What is Forex Analysis?

Forex analysis is the study of determining whether to buy, sell, or wait on trading a currency pair. Currencies trade in pairs, with the exchange rates based on the price of one currency relative to the other

SUMMARY

  • The British pound is at its highest in two months on growing optimism that the UK and EU will have a long-awaited trade deal
  • Dollar gains were held up in the early Asian trading session on Wednesday as optimism about a coronavirus vaccine was offset by concerns about how the drug will be distributed and by a new wave of infections in the United States

EURUSD Analysis

Euro movement is still far from correction, the 1.1806 area is a signal for correction if it closes below the 1.1798 area, target to the 50% fibo area to the 1.1760 area, otherwise the USD strengthening will be halted if the 1.1843 area breaks and closes above the 1.1860 area, the target is the 1.1900 area. Buy levels : 1.1755-1.1777 Cutloss : 1.1720, Sell levels : 1.1825-1.1848 Cutloss : 1.1888

Strong Support : 1.1798
Strong Resistance : 1.1843

GBPUSD Analysis

And … it is proven why the Pound has been “calm” since the beginning of this week, after developments regarding Brexit, the Pound went straight to its sell area, technicals did not help much, news about Brexit and vaccine developments were very influential, if the break low might be long to the 1.3203 area ( MA5), but even if it breaks the high it is only limited to the 1.3287 area. Buy levels : 1.3180-1.3202 Cutloss : 1.3140, Sell levels : 1.3285-1.3303 Cutloss : 1.3333

Strong Support : 1.3203
Strong Resistance :
1.3294

AUDUSD Analysis

The 0.7338 area (yesterday’s high) is a signal of strengthening the Aussie, if it breaks and closes above that area, the target is the 0.7400 area, on the other hand the 0.7288 area is a signal of weakening Aussie, breaks and closes below the 0.7260 area target to the 0.7222 area. Buy levels : 0.7222-0.7262 Cutloss : 0.7195, Sell levels : 0.7309-0.7333 Cutloss : 0.7355

Strong Support : 0.7260
Strong Resistance : 0.7333

USDJPY Analysis

The “efficacy” of the Yen as a secondary safe haven will continue to be tested, if the daily closing is below the 105.09 area then a correction will occur, on the other hand the 105.54 area (MA100) is a further signal for the weakening of the Yen if the closing of H4 is above the 105.87 area the target will break the 106.00 area. Buy levels : 104.81-105.05 Cutloss : 104.54, Sell levels : 105.50-105.87 Cutloss : 106.16

Strong Support : 105.09
Strong Resistance : 105.56

USDCHF Analysis

The 0.9173 area is a further signal for the weakening of the Swiss Franc if the H4 closing above the area, the target will re-penetrate the 0.9200 area, on the other hand the 0.9112 area will be a signal of strengthening if closing below the 0.9095 area, the target is limited to the 0.9070 area. Buy levels : 0.9122-0.9142 Cutloss : 0.9111, Sell levels : 0.9180-0.9202 Cutloss : 0.9232

Strong Support : 0.9112
Strong Resistance : 0.9173

ianz

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