What is Forex Analysis?

Forex analysis is the study of determining whether to buy, sell or wait to trade a currency pair. Currencies traded in pairs, with exchange rates based on the price of one currency relative to another, for example USDEUR = USD Vs Euro

SUMMARY

  • The safe-haven US dollar strengthened again in early Asian trading Friday, supported by higher Treasury yields and tumbling stock markets, as investors continued to digest the Federal Reserve’s push on expectations of an early rate hike. U.S. benchmarks The 10-year yield rose to a more than one-year peak of 1.754% overnight before dropping to 1.715%, while stocks in Asian markets followed Wall Street overnight continuing to lose ground
  • The Fed (FOMC) meeting vowed, this week to continue with aggressive monetary stimulus, said the short-term spike in inflation would prove temporary amid their projections for the strongest US economic growth in nearly 40 years
  • Investors ditched the dollar and rushed into more risk-sensitive currencies as Fed Chair Jerome Powell, remaining on his dovish credentials, eased speculation the prospect of a stronger economy could prompt the central bank to pull back on stimulus
  • The BOJ also announced the results of a comprehensive policy review and is expected to slightly widen the implicit range which will allow long term interest rates to move around the target at 0%
  • The Bank of England (BOE) also warned that the prospects for Britain’s recovery from COVID-19 remain unclear, disappointing is the expectation that the BOE will signal a more confident outlook, it doesn’t
  • “Sentiment and trend position” are the main drivers of the market today, the impact of global bond yields trading in Pecan is still the main sentiment and other economic data factors. diverse, be careful of anticipatory movements

Market EURUSD Analysis

The 1.1926 area (MA15 & 25) is a further signal for the Euro, breaks and closes above the 1.1952 target area to the 1.2015 area, on the other hand the 1.1899 area is a signal of strengthening USD against the Euro, a break is a close below the 1.1867 area target to the 1.1819 area. Buy levels : 1.1909-1.1941 Cutloss : 1.1868, Sell levels : 1.1933-1.1969 Cutloss : 1.1999

Strong Support : 1.1899
Strong Resistance : 1.1987

Market GBPUSD Analysis

The 1.3925 area (MA15 & 25) is a further signal for the Pound to strengthen, break and close above the 1.3986 area, the target to the 1.4022 area, on the other hand, the 1.3888 area is a signal for the weakening of the pound, breaks and closes below the 1.3845 area target to the 1.3808 area. Buy levels : 1.3814-1.3849 Cutloss : 1.3788, Sell levels : 1.3908-1.3945 Cutloss : 1.3988

Strong Support : 1.3888
Strong Resistance : 1.3986

Market AUDUSD Analysis

The 0.7755 area (MA15 & 25) is a further signal for the strengthening of the Aussie to break and close above the 0.7812 target to the 0.7888 area, on the other hand, the 0.7710 area signals the weakening of the Aussie to break and close below the 0.7655 (MA100) area, target to the 0.7606 area. Buy levels : 0.7615-0.7648 Cutloss : 0.7585, Sell levels : 0.7742-0.7888 Cutloss : 0.7919

Strong Support : 0.7730
Strong Resistance : 0.7820

Market USDJPY Analysis

The 108.80 area is a signal of the strengthening of the Yen, breaks and closes below the 108.61 target area to the 108.37 area, conversely the 108.97 area (MA15 & 25) is a signal for the weakening of the Yen, breaks and closes above the 109.11 target area to the 109.35 area. Buy levels : 108.48-108.88 Cutloss : 108.22, Sell levels : 109.35-109.78 Cutloss : 110.05

Strong Support : 108.80
Strong Resistance : 109.25

Market USDCHF Analysis

The 0.9284 area signals that the Swiss Franc is weakening, breaks and closes above the 0.9301 target area to the 0.9365 area, conversely the 0.9265 area (MA15 & 25) is a signal that the Swiss Franc strengthens, breaks and closes below the 0.9241 target area to the 0.9211 area. Buy levels : 0.9245-0.9278 Cutloss : 0.9212, Sell levels : 0.9303-0.9333 Cutloss : 0.9377

Strong Support : 0.9241
Strong Resistance :  0.9284

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The rate and other information rendered herein by education & analysis PT Soegee Futures has been obtained from sources we believe reliable, but we can’t represent that they are complete and accurate. We are not responsible to any offer to sell or solicitation of an offer to purchase base on the rate and information contained