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 US Dollar (USD) strengthened last week, the Euro was still weakening until the closing weekend, investors remained hesitant to buy Euro (EUR) because of the prospect of a pandemic in the Eurozone. Throughout this week, eurozone confidence data and US growth rate data can boost movements in the euro exchange rate to the US dollar
  • Bank of Japan (BoJ) took steps to reduce its monetary stimulus program, the exchange rate of Pound to Japanese Yen (GBP / JPY) weakened. The central bank’s statement will allow for greater fluctuation in pullback yields, moving towards a more sustainable stimulus policy, the attractiveness of the Japanese Yen (JPY) increases. While this move does not represent a major shift in policy, a move away from the BoJ’s more aggressive stimulus approach gives investors more reason to be confident
  • Although the UK GfK consumer confidence index data is better than expected, forecast from -23 to -16 in March, this is not enough to sustain demand for Pound Sterling (GBP), meanwhile
  • The sharp increase in lending rates in the public sector suggests higher levels of government borrowing, raising new doubts over the strength of the US economic outlook. And a lot of fundamental data and news that will come out this week
  • “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 data on other economic factors that show a correlation to economic growth, the ‘risk-on’ and fluctuations in forex movements will be increasingly diverse, be careful of anticipatory movements

Market EURUSD Analysis

Area 1.1947 (MA100) is a signal to continue the strengthening of the Euro, breaks and closes above the 1.1987 (MA125) area target to the 1.2009 area, on the other hand the 1.1919 area (MA15 & 25) is a signal of strengthening USD against the Euro, through there is a closing below the 1.1900 area target to the 1.1866 area. Buy levels : 1.1862-1.1890 Cutloss : 1.1825, Sell levels : 1.1926-1.1967 Cutloss : 1.1999

Strong Support : 1.1867
Strong Resistance : 1.1947

Market GBPUSD Analysis

The 1.3865 (MA15) area is a further signal for the pound to strengthen, break and close above the 1.3877 (MA25) area, the target to the 1.3933 (MA125) area, on the other hand, the 1.3820 area is a signal for pound weakening, breaks and closes below the 1.3787 area target to the 1.3742 area. Buy levels : 1.3785-1.3823 Cutloss : 1.3744, Sell levels : 1.3855-1.3892 Cutloss : 1.3928

Strong Support : 1.3810
Strong Resistance : 1.3877

Market AUDUSD Analysis

The 0.7710 area is a further signal for the Aussie to break and close above the 0.7733 (MA15.25 & 100) area, the target to the 0.7768 (MA125) area, on the other hand, the 0.7676 area signals the weakening of the Aussie to break and close below the 0.7654 target area to the 0.7626 area. Buy levels : 0.7615-0.7648 Cutloss : 0.7585, Sell levels : 0.7737-0.7777 Cutloss : 0.7808

Strong Support : 0.7654
Strong Resistance : 0.7710

Market USDJPY Analysis

The 108.61 area is a signal for the strengthening of the Yen, breaks and closes below the 108.38 area (MA100) target to the 108.08 area, conversely the 108.82 area (MA15 & 25) is a signal for the weakening of the Yen, breaks and closes above the 108.96 area target 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 : 108.61
Strong Resistance : 108.96

Market USDCHF Analysis

The 0.9258 area (MA15,25 & 100) signals that the Swiss Franc is weakening, breaks and closes above the 0.9284 target to the 0.9333 area, on the other hand the 0.9217 (MA125) area is a signal that the Swiss Franc strengthens, breaks and closes below the 0.9185 area target to the 0.9161 area. Buy levels : 0.9222-0.9258 Cutloss : 0.9181, Sell levels : 0.9284-0.9323 Cutloss : 0.9367

Strong Support : 0.9221
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