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 strengthened in early Wednesday morning trading sessions in Asia, rising most recently to a new one-year high against the Yen, market players speculate that aggressive fiscal stimulus and vaccines will help the US lead the global economic recovery from the impact of the COVID-19 pandemic. US bond yields also provided the greenback, with the 10-year Treasury yield the highest in one year at 1.776% on Tuesday
  • Today through Friday the market will be busy with the economic calendar, French consumer spending and German unemployment will be released in the early part of the European session. With parts of France entering into a state of lockdown, we expect consumer spending figures to have a negative impact on the EUR, then, the preliminary inflation figures for France, Eurozone and Italy will also be released
  • And the main focus of the market is updating the COVID-19 news from the Eurozone
  • And from the US, the latest jobs report due for release on Friday can add to the evidence that the recovery remains on track, nonfarm payrolls are expected to rise by 650K in March, the unemployment rate fell from 6.2% to 6.0%, and income per year. Average hours are expected to increase 0.1% in March and 4.5% over the past 12 months
  • However, “the market is in jeopardy because of assessing too much risk in inflation,” meaning “the market sees scope for the dollar to weaken in the coming months,” the note added
  • “Sentiment and trend position” are the main drivers for the market today, the impact of global bond yields trading this week is still the main sentiment and data on other economic factors can be seen from the correlation on economic growth, so the ‘risk-on’ and fluctuations in forex movements will be more diverse , be careful of anticipatory movements

Market EURUSD Analysis

The 1.1756 area is a further signal for the strengthening of the Euro, breaks and closes above the 1.1777 area, targeting the 1.1808 area, on the other hand, the 1.1703 area is a signal of strengthening USD against the Euro, a break is a closing below the 1.1683 target area to the 1.1666 area. Buy levels : 1.1647-1.1677Cutloss : 1.1615, Sell levels : 1.1691-1.1718 Cutloss : 1.1764

Strong Support : 1.1703
Strong Resistance : 1.1760

Market GBPUSD Analysis

The 1.3759 area (MA15 & 25) is a further signal for the Pound to strengthen, break and close above the 1.3774 area, the target to the 1.3828 area, on the other hand, the 1.3737 area is a signal for pound weakening, breaks and closes below the 1.3704 area target to the 1.3666 area. Buy levels : 1.3626-1.3652 Cutloss : 1.3595, Sell levels : 1.3742-1.3772 Cutloss : 1.3812

Strong Support : 1.3737
Strong Resistance : 1.3765

Market AUDUSD Analysis

The 0.7624 area (MA15 & 25) is a further signal for the strengthening of the Aussie to break and close above the 0.7639 target to the 0.7699 area, on the other hand, the 0.7586 area signals the weakening of the Aussie to break and close below the 0.7555 target area to the 0.7505 area. Buy levels : 0.7512-0.7556 Cutloss : 0.7474, Sell levels : 0.7585-0.7622 Cutloss : 0.7667

Strong Support : 0.7620
Strong Resistance : 0.7666

Market USDJPY Analysis

The 110.40 area is a signal for the strengthening of the Yen, breaks and closes below the 110.11 (MA15) area, the target to the 109.48 area, conversely the 110.95 area is a signal for the weakening of the Yen, breaks and closes above the 111.11 area, the target to the 111.41 area. Buy levels : 109.96-110.38 Cutloss: 109.69, Sell levels : 111.41-111.88 Cutloss: 112.02

Strong Support : 109.70
Strong Resistance : 110.40

Market USDCHF Analysis

The 0.9444 area signals that the Swiss Franc is weakening, breaks and closes above the 0.9484 area target to the 0.9515 area, on the other hand the 0.9407 (MA15) area is a signal that the Swiss Franc strengthens, breaks and closes below the 0.9394 (MA25) area target to the 0.9333 area. BUy levels : 0.9390-0.9425 Cutloss: 0.9363, Sell levels : 0.9439-0.9484 Cutloss: 0.9505

Strong Support : 0.9388
Strong Resistance :  0.9444

ianz

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  

Leave a comment




Enter Captcha Here :