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 was pushed higher by the rise in the U.S. Bond yields on Monday, and continuing to rise amid continued expectations for economic improvement, the appreciation of the dollar has forced market participants to trim their short positions, adding further ‘fuel’ to the greenback’s advance, but some warned that this short-squeeze journey is starting to diverge but data showing bearish bets on the greenback such as “running out of space” could limit the G10 currency, analysts said
  • A busy week of economic data, with the latest jobs report due Friday that can add to evidence that the recovery remains on track, nonfarm payrolls are expected to rise by 650K in March, unemployment rate is expected to fall from 6.2% to 6.0 %, and median hourly earnings are expected to increase 0.1% in March and 4.5% over the past 12 months, analysts noted
  • However, “the market is in danger of assessing too much inflation risk,” meaning “the market sees scope for the dollar to weaken in the months to come,” the note added
  • In Europe, the near-term economic outlook is becoming bleaker as France and Germany introduce stricter restrictive measures to curb a third wave of COVID-19 cases on the continent. Also putting pressure on the euro is the widening gap between US and German bond yields
  • “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 1.1764 area is a further signal for the strengthening of the Euro, breaks and closes above the 1.1792 area, targeting the 1.1848 area, on the other hand, the 1.1733 area is a signal of strengthening USD against the Euro, a break is a closing below the 1.1703 area target to the 1.1677 area. Buy levels : 1.1677-1.1707 Cutloss : 1.1655, Sell levels : 1.1761-1.1788 Cutloss : 1.1828

Strong Support : 1.1703
Strong Resistance : 1.1760

Market GBPUSD Analysis

The 1.3774 area (MA15 & 25) is a further signal for the pound to strengthen, break and close above the 1.3793 area, the target to the 1.3858 area, on the other hand, the 1.3756 area is a signal for pound weakening, breaks and closes below the 1.3737 area, the target is to the 1.3686 area. Buy levels : 1.3676-1.3706 Cutloss : 1.3625, Sell levels : 1.3772-1.3802 Cutloss : 1.3842

Strong Support : 1.3737
Strong Resistance : 1.3765

Market AUDUSD Analysis

The 0.7658 area is a signal for further strengthening of the Aussie to break and close above the 0.7681 target to the 0.7711 area, on the other hand, the 0.7634 area (MA15 & 25) signals the weakening of the Aussie to break and close below the 0.7617 target area to the 0.7575 area. Buy levels : 0.7552-0.7586 Cutloss : 0.7526, Sell levels : 0.7651-0.7682 Cutloss : 0.7707

Strong Support : 0.7620
Strong Resistance : 0.7666

Market USDJPY Analysis

The 110.12 area is a signal for the strengthening of the Yen, breaks and closes below the 109.82 area, the target to the 109.48 area, conversely the 110.26 area is a signal for the weakening of the Yen, breaks and closes above the 110.40 area, the target to the 110.70 area. Buy levels : 109.62-109.86 Cutloss : 109.39, Sell levels : 110.45-110.88 Cutloss : 111.11

Strong Support : 109.70
Strong Resistance : 110.40

Market USDCHF Analysis

The 0.9425 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 0.9388 (MA15) area signals the Swiss Franc to strengthen, break and close below the 0.9376 (MA25) area target to the 0.9313 area. Buy levels : 0.9366-0.9395 Cutloss : 0.9333, Sell levels : 0.9449-0.9484 Cutloss : 0.9505

Strong Support : 0.9388
Strong Resistance :  0.9444

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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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