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

  • Data on Tuesday showed that US consumer confidence fell more than expected in November amid the resurgence of COVID-19 infections and business restrictions, reinforcing expectations for slowing economic growth in the fourth quarter
  • Risk-sensitive currencies strengthened on Tuesday as investors breathed more relief after US President Donald Trump accepted the start of a transition to the Biden administration, which is expected to include former Federal Reserve Chair Janet Yellen as Treasury Secretary
  • The dollar held up losses in early Asian trading Wednesday as progress in developing a new coronavirus vaccine and expectations for a fiscal boost from the new US government sparked a shift of funds from the greenback to riskier assets
  • Technically, the USD has been at the bottom for the last three months, yesterday’s movement was far from long correction, strong support areas (Euro, Pound and Aussie) became a signal, resistance areas (Yen and Swiss Franc) were a signal of weakness

EURUSD Analysis

The 1.1892 (MA5) area is a signal for the weakening of the Euro, if it breaks and closes below the 1.1864 (MA25) area, the target is the 1.1825 area, on the other hand, the 1.1919 area is a signal for the strengthening of the Euro if it breaks and closes below 1.1936 the target is the 1.2000 area. Buy levels : 1.1818-1.1835 Cutloss : 1.1780, Sell levels : 1.1900-1.1936 Cutloss : 1.1909

Strong Support : 1.1892
Strong Resistance : 1.1919

GBPUSD Analysis

The 1.3329 area is a signal of the weakening of the pound, closing below the 1.3312 area target to the 1.3265 area, conversely the 1.3370 area is a signal of strengthening the pound, closing above the 1.3390 area the target breaks into the 1.3444 area. Buy levels : 1.3222-1.3265 Cutloss : 1.3181, Sell levels : 1.3360-1.3393 Cutloss : 1.3444

Strong Support : 1.3212
Strong Resistance :
1.3370

AUDUSD Analysis

The 0.7326 (MA15) area is a signal of weakening Aussie, closing H4 below the 0.7317 target area to the 0.7275 area, otherwise the 0.7372 area is a signal of strengthening Aussie, closing above the 0.7404 area target to the 0.7480 area. Buy levels : 0.7365-0.7380 Cutloss : 0.7424, Sell levels : 0.7275-0.7299 Cutloss : 0.7240

Strong Support : 0.7330
Strong Resistance : 0.7372

USDJPY Analysis

The 50% Fibonacci chart H4 104.41 (MA125) area is indeed a signal area for the strengthening of the Yen, closing below the 104.27 target area to the 103.85 area, conversely the 104.71 area is a signal for Yen weakness, closing above 104.85 the target breaks into the 105.15 area. Buy levels : 104.25-104.45 Cutloss : 103.95, Sell levels : 104.89-105.19 Cutloss : 105.45

Strong Support : 104.41 Strong Resistance : 104.71

USDCHF Analysis

Area 0.9117 (MA125) is a signal of the weakening of the Swiss Franc, closing above the 0.9140 area to the 0.9191 target area, on the other hand 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 : 0.9090-0.9105 Cutloss : 0.9060, Sell levels : 0.9156-0.9188 Cutloss : 0.9212

Strong Support : 0.9090
Strong Resistance : 0.9140

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 :