
eurusd-is-falling-what-to-expect-from-the-future-price-movement
Don’t waste your time – keep track of how NFP affects the US dollar!
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As we await the publication of the Nonfarm payrolls on the 10th of March, the technical side of things does not seem to favor the US Dollar. Let's see how the Dollar looks up from the technical side of things.
On the Daily timeframe, the US Dollar can be seen approaching a rally-base-drop supply zone. The 88% of the Fibonacci retracement and the 100-Day moving average serve as additional confluences for the bearish sentiment. Should this be the case, we can expect bullish price action from the XXX-USD pairs.
EURUSD, on the Daily timeframe, is approaching a drop-base-rally demand zone from the previous break above the marked high. The demand zone falls within 88% of the Fibonacci retracement, and we can also see trendline support just within reach of the current price action. On this note, my sentiment here is bullish.
Analysts’ Expectations:
Direction: Bullish
Target: 1.07230
Invalidation: 1.04550
Similar to the price action on EURUSD, GBPUSD is also approaching a demand zone, where is also trendline support. In this case, however, the added confluence of the 100 and 200-day moving averages exists.
Analysts’ Expectations:
Direction: Bullish
Target: 1.2300
Invalidation: 1.1800
Gold has presented us with a similar scenario as we have already discussed. Similar confluences and sentiments as well.
Analysts’ Expectations:
Direction: Bullish
Target: $1910
Invalidation: $1787
The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.
eurusd-is-falling-what-to-expect-from-the-future-price-movement
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eurusd-is-falling-what-to-expect-from-the-future-price-movement
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Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus
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