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 dollar started the week strong and amid peaks against the euro and yen until the early Asian trading session this Monday, as US economic strength and vaccine launches progressed much faster than expected, as opposed to conditions in Europe which brought the USD back ‘attractive’ to investors. The shared currency is headed for its worst month since mid-2019 as a vaccination program that didn’t match expectations created a new wave of infections
  • The 76 basis point increase this year occurred in 10-year US Treasury yields, as the US economy rebounded, opening the widest gap since last February. That attracted investment from Japan, which in turn helped push the yen down nearly 6% for the quarter
  • US economic growth has also been helped by some pretty good economic data, fantastic vaccine launches, good vaccination rates and a (positive) stock market, “said Westpac currency analyst Imre Speizer.” The domestic economy is growing better than expected and it is likely to continue in the next few months, so it will probably hold back the US dollar and that’s what caused the Aussie, kiwi and emerging markets to retreat in March. “
  • U.S. jobless claims fell to their lowest level in a year, data last week and President Joe Biden said he would double his vaccination target, after exceeding the target of 100 million people receiving vaccinations, 42 days ahead of schedule
  • “Sentiment and trend position” are the main drivers of the market today, the impact of global bond yields trading this week is still the main sentiment and other economic data factors. diverse, be careful of anticipatory movements

Market EURUSD Analysis

The 1.1795 area (MA15) is a signal for further strengthening of the Euro, breaks and closes above the 1.1812 (MA25) area, the target is to the 1.1888 area, on the other hand the 1.1770 area is a signal of strengthening USD against the Euro, a break is a closing below the 1.1760 area target to the 1.1697 area. Buy levels : 1.1688-1.1717 Cutloss : 1.1655, Sell levels : 1.1781-1.1822 Cutloss : 1.1868

Strong Support : 1.1760
Strong Resistance : 1.1801

Market GBPUSD Analysis

The 1.3793 area becomes a further signal for the pound to strengthen, break and close above the 1.3824 target area to the 1.3888 area, on the other hand the 1.3765 area (MA15 & 25) is a signal for the pound to weaken, breaks and closes below the 1.3737 target area to the 1.3686 area. Buy levels : 1.3666-1.3696 Cutloss : 1.3625, Sell levels : 1.3777-1.3817 Cutloss : 1.3852

Strong Support : 1.3765
Strong Resistance : 1.3818

Market AUDUSD Analysis

The 0.7620 area (MA15 & 25) is a further signal for the strengthening of the Aussie to break and close above the 0.7658 target area to the 0.7696 area, otherwise the 0.7607 area signals the weakening of the Aussie to break and close below the 0.7590 target area to the 0.7555 area. Buy levels : 0.7522-0.7556 Cutloss : 0.7494, Sell levels : 0.7626-0.7652 Cutloss : 0.7688

Strong Support : 0.7620
Strong Resistance : 0.7666

Market USDJPY Analysis

The 109.36 area (MA15) is a signal for the strengthening of the Yen, breaks and closes below the 109.22 (MA25) area, the target to the 108.86 area, conversely the 109.66 area is a signal for the weakening of the Yen, breaks and closes above the 109.83 area, the target to the 110.10 area. Buy levels : 109.22-109.48 Cutloss : 108.96, Sell levels : 109.99-110.28 Cutloss : 110.50

Strong Support : 109.25
Strong Resistance : 109.88

Market USDCHF Analysis

The 0.9415 area signals that the Swiss Franc is weakening, breaks and closes above the 0.9444 area target to the 0.9489 area, on the other hand the 0.9382 (MA15) area is a signal that the Swiss Franc strengthens, breaks and closes below the 0.9365 (MA25) area target to the 0.9313 area. Buy levels : 0.9290-0.9325 Cutloss : 0.9272, Sell levels : 0.9393-0.9424 Cutloss : 0.9444

Strong Support : 0.9365
Strong Resistance :  0.9396

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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  

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