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

  • US Senate Republican leaders have agreed to continue negotiations on a stimulus package due to the corona virus
  • USDollar fell during the week in early Asian trading days after US Treasury Secretary Steven Mnuchin told the Federal Reserve to return money allocated to loans during the pandemic to businesses, nonprofits and local governments
  • USD movement is still short-term until the end of this year. Market action taking profit should be a consideration in taking a position, preferably ‘follow the market’ as the market is more defensive, support and resistance areas are cautious

EURUSD Analysis

The 1.1854 area (MA25) is a signal for the weakening of the Euro, if it breaks and closes below the 1.1835 area, the target is to the 1.1795 area, on the other hand, the 1.1892 area will be a signal for the strengthening of the Euro if it breaks and closes above the 1.1919 area, the target is the 1.1960 area. Buy levels : 1.1770-1.1808 Cutloss : 1.1740, Sell levels : 1.1885-1.1919 Cutloss : 1.1949

Strong Support : 1.1835
Strong Resistance : 1.1892

GBPUSD Analysis

The 1.3300 area becomes a signal for the strengthening of the Pound, if it breaks and closes above the area, the target is limited to the 1.3333 area, on the other hand the 1.3240 area is a signal for the weakening of the pound, if it breaks and closes below the 1.3222 area, target to the 1.3165 area. Buy levels : 1.3141-1.3175 Cutloss : 1.3111, Sell levels : 1.3274-1.3313 Cutloss : 1.3363

Strong Support : 1.3222
Strong Resistance :
1.3300

AUDUSD Analysis

The 0.7305 area is a signal of strengthening Aussie, closing H4 above the 0.7325 area target to the 0.7338 area, conversely the 0.7273 area is a signal of weakening Aussie, closing below the 0.7265 area target to the 0.7222 area. Buy levels : 0.7255-0.7285 Cutloss : 0.7165, Sell levels : 0.7360-0.7393 Cutloss : 0.7424

Strong Support : 0.7273
Strong Resistance : 0.7306

USDJPY Analysis

As a secondary ‘safe haven’, it is very vulnerable to profit taking, if the 104.00 area breaks and closes above the 104.12 target area to the 104.44 area, on the other hand the 103.64 area is a signal of strengthening Yen, closing below the 103.50 target area to the 103.33 area. Buy levels : 103.60-103.80 Cutloss : 103.35, Sell levels : 104.25-104.44 Cutloss : 104.88

Strong Support : 103.64
Strong Resistance : 104.00

USDCHF Analysis

The 0.9105 (MA5) area is a signal of the weakening of the Swiss Franc, closing above the 0.9119 (MA100) area to the 0.9150 target area, on the other hand the 0.9085 area becomes a weak signal, if closing is below the 0.9060 area the target is the 0.9030 area. Buy levels : 0.9080-0.9110 Cutloss : 0.9060, Sell levels : 0.9140-0.9180 Cutloss : 0.9212

Strong Support : 0.9090
Strong Resistance : 0.9119

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