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
- This Monday was the initial insurance against the corona vaccine, on the other hand offset by management controlling the economy to control the spread of the virus, thus leaving safe-haven assets in uncertainty.
The Japanese market was on holiday, reducing liquidity in the money market and discouraging investors from undergoing the boundaries of resistance and support on the main charts of a number of US dollar pairs
- USD movement is still short-term until the end of this year. Market action profit taking should be a consideration in taking a position, preferably ‘follow the market’ as the market is more defensive, support and resistance areas are cautious
The 1.1864 area (MA5 & 15) is a signal for the weakening of the Euro, if it breaks and closes below the 1.1831 area, the target is to the 1.1800 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 : 1.1800-1.1835 Cutloss : 1.1760, Sell levels : 1.1875-1.1919 Cutloss : 1.1949
The 1.3301 (MA5) area is a signal of the weakening of the pound, closing below the 1.3279 area target to the 1.3253 area, conversely the 1.3333 area is a signal of strengthening Pound. Buy levels : 1.3141-1.3175 Cutloss : 1.3111, Sell levels : 1.3274-1.3313 Cutloss : 1.3363
The 0.7305 area is a signal for the weakening of the Aussie, closing H4 below the 0.7293 target area to the 0.7265 area, otherwise the 0.7338 area is a signal of strengthening Aussie, closing above the 0.7338 area target to the 0.7380 area. Buy levels : 0.7265-0.7293 Cutloss : 0.7165, Sell levels : 0.7320-0.7343 Cutloss : 0.7374
As a secondary ‘safe haven’, it is very vulnerable to profit taking, if the 103.84 area breaks and closes above the 103.95 target area to the 104.12 area, on the other hand the 103.50 area is a signal of strengthening the Yen, closing below the 103.50 target area to the 103.33 area. Buy levels : 103.50-103.75 Cutloss : 103.15, Sell levels : 104.12-104.44 Cutloss : 104.88
The 0.9116 area (MA100 & 125) is a signal of the weakening of the Swiss Franc, closing above the 0.9140 area to the 0.9191 target area, conversely the 0.9085 area becomes a signal of strengthening, if the closing area is below the 0.9060 area the target is the 0.9030 area. Buy levels : 0.9080-0.9101 Cutloss : 0.9060, Sell levels : 0.9140-0.9180 Cutloss : 0.9212