#dailymarketanalysis

[inveslo]

Euro up ahead of the ECB meeting, US jobs data and retail sales in focus

Euro rose back to 1.09 again on Thursday ahead of the ECB meeting as the US dollar index gave up its three-digit peak in red. Read more...

[inveslo]

The dollar remains firm ahead of hot U.S. inflation data

On Tuesday, the U.S. dollar held steady as Treasury yields spiked to a three-year high ahead of U.S. inflation data that may signal even more Read more....

[tradeglobalmarket]

EUR/USD Forecast - April 7th, 2021.

The dollar index is falling for the last two days. The US government bond yields also fell sharply. Whenever the value of the US dollar decreases, the value of other currencies like EUR increases…

Read More: https://tradeglobalmarket.com/blog/Trading/eur-usd-forecast-april-7th-2021/

[tradeglobalmarket]

Daily Forex Evaluation – March 18th, 2021 | Daily Forex Analysis.

In the Daily Forex Evaluation segment, we provide key insights on current market trends in forex pairs, particularly the major currency pairs which are the most traded currency pairs based on technical and fundamental analysis. The most traded currency pairs are EUR/USD – Euro Dollar, USD/JPY – Dollar-Yen, GBP/USD – Pound Dollar, and USD/CHF – Dollar Swiss Franc.

 EUR/USD Evaluation – March 18th, 2021.

The EUR/USD pair is currently trading at a 1.196 price level. This is an important support level. The Federal Open Market Committee recently announced that they will not be increasing interest rates for the next year. This announcement caused a massive U.S. dollar sell-off. As a result, we saw 100 pips positive rally for EUR/USD pair. Look for short-term buying opportunities in EUR/USD.

 USD/JPY Evaluation – March 18th, 2021.

After a big bullish breakout, the USD/JPY is consolidating at a 108.88 price level. this price level is one of the most important resistance zones. USD/JPY is consolidating at this resistance zone for the last seven days. According to the expert’s analysis, the Bank of Japan is expected to increase its long-term interest rates. The USD/JPY pair will be affected by this announcement. we might see a good bearish momentum after this announcement. look for short-term selling opportunities in USD/JPY.

 GBP/USD Evaluation – March 18th, 2021.

GBP/USD is currently trading at a 1.3956 price level. Currently, GBP/USD is trending in a range. The GBP/USD retreated from its peak price level after the US central bank announcement. The Bank of England is expected to leave rates and asset purchase facility unchanged for the next couple of months. look for short-term selling opportunities in GBP/USD.

 USD/CHF Evaluation (Dollar Swiss Franc) – March 18th, 2021.

USD/CHF is showing bearish momentum for the last three days. It is making new lows consecutively. On the long-term outlook, USD/CHF is bullish but USD/CHF is bearish in the medium-term outlook. So be cautious while trading USD/CHF. Use a strict stop loss as we may see a trend reversal.

[tradeglobalmarket]

EUR/USD Forecast – March 16th, 2021

The new wave of economic lockdowns and restrictions on several businesses due to rising COVID-19 cases is likely to continue in the Eurozone. This continuous restriction will have a significant impact on the EUR/USD Pair.

Currently, the EUR/USD pair is trending in a downtrend. The downtrend is likely to continue due to various factors. For the last three months, EUR/USD is continuously going down.

So far EUR/USD is down by 1.12% this month. Today EUR/USD is consolidating at a $1.19375 price level which is also major support. If EUR/USD breaks this support, then we can see an additional 2% fall in EUR/USD value.

The EUR/USD pair may get upside support in the European session, but this support will be very limited. so, if you are looking for a buying opportunity then you must place your buy orders in the European session only. Also, make sure to exit from your position before US trading hours.  

In the US trading session, EUR/USD may create a new low and reach to 1.1885 price level. In the daily chart, the pair is below a now flat 20 SMA. Technical indicators are showing bearish pressure in EUR/USD pair.

The EUR/USD pair may trade in sideways consolidative price action throughout the Asian trading session. One must avoid trading in this session in order to protect their capital. Bullish investors are not speculating any good upside movement in the EUR/USD pair due to the shortage of vaccines and other drugs related to the cure of COVID-19 in the European Union.

European Union is still pressuring The United States for the export of unused stockpiles of the drug and a vaccine for the treatment of COVID-19.

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[smartfxbroker]

At SmartFX, we provide you the daily market analysis to help you understand market fluctuations and how you can benefit from them. Our team of experts prepares the trading range per instrument, their securing profits and averting losses, including their support and resistance level. By following this analysis, it guides traders to what is most likely to happen for them to make their next move.

Visit our daily market analysis page, and get the key insights on major currency pairs, commodities, and indices: https://smartfx.com/daily-market-analysis 

[smartfxbroker]

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