Trading news

Forex trading plan for March 25

The strength of the US dollar has diminished after the Fed’s meeting last week and comments of the Deputy Governor Fisher. Yet, American inflation figures weren’t as bad as some feared. Core CPI, though low, was a bit above forecasts. On Wednesday the market’s attention will be focused on the durable goods orders release at 12:30 GMT.

EUR/USD has approached last week’s high in the 1.1045 area which coincides with the top Bollinger band on H4. The next resistance is at 1.1100. Data from the euro area was marginally better, so consolidation will continue with buyers around 1.0870, 1.0820 and 1.0750. Don’t miss German Ifo business climate index.

GBP/USD so far has failed to settle above January low at 1.4950. Inflation data in the UK was lower than expected. The pair lacks momentum and may revisit levels just above 1.4700. Only BBA Mortgage Approvals are due in Britain on Wednesday, not much of a market mover.

USD/JPY is below support line of the 3-month uptrend. Daily MACD is declining. Further support is at 119.08/00 and 118.60. Resistance is in the 119.80 area ahead of 120.50. US data is the main driver of the pair.

AUD/USD is testing the 0.7900 handle. The pair has breached the downtrend resistance line and entered the bearish daily Ichimoku Cloud. Resistance is at 0.8032 (Jan. 7 low) and 0.8105 (100-day MA). Support is at 0.7850 and 0.7750. The Reserve Bank of Australia will release its Financial Stability Review early on Wednesday.

Tuesday, 24 Mar, 2015 / 3:41

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : http://fxbazooka.com/en/analitycs/show/4251

Trading news

 

Coronavirus Stays in Spotlight; EUR Slides on ECB, EZ and UK PMIs in Focus

Most major EU indices traded in the red for another day, and while the US ones [...]

Posted on Friday, 24 Jan, 2020 / 8:47 under

Golden Cross Pattern on NZD/USD Daily Chart

A bullish golden cross pattern (50-period moving average crossing above the [...]

Posted on Thursday, 23 Jan, 2020 / 11:17 under

ECB meets after BoC sinks loonie; risk appetite wobbles

  ECB to stay on hold – risks tilted towards a slightly more [...]

Posted on Thursday, 23 Jan, 2020 / 10:28 under