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Forex Signals & Market Insights: March 15- Intraday Focus

U.S. Inflation Data: Higher-than-expected inflation data boosts USD; Fed may adopt a hawkish stance.


  • Dollar Strength: Dollar index rises, expectations for a Fed rate cut in June decrease.

  • Asian Currencies: Broad decline in response to potential prolonged U.S. high interest rates.

  • Japanese Yen: Stable but potentially impacted by the upcoming BOJ meeting and speculation about policy changes.

  • Key Forex Pair Signals:

  • USD/JPY: Watch for BOJ meeting impact; yen could weaken if rates are hiked.

  • AUD/USD: AUD sensitive to U.S. policy shifts; caution advised.

  • EUR/USD: Euro could face pressure from a stronger USD.

DXY Dollar Index, A financial chart depicting the with technical indicators including candlesticks, Bollinger Bands, Ichimoku Cloud, and volume bars. The chart also features an RSI indicator below, signalling recent market volatility.
🟢 Dollar Index


Forex Trade Signals

EUR/USD  GBP/USD  USD/JPY  USD/CHF  NZD/USD  AUD/USD USD/CAD  EUR/GBP  EUR/JPY EUR/CHF


EUR/USD A trading chart displaying the asset with two main indicators. The top panel shows Bollinger Bands overlaid on candlestick price action with a 20-day Simple Moving Average (SMA). Below, two sub-panels present the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), respectively. The RSI is within the neutral range, neither overbought nor oversold. The MACD shows the signal line and the MACD line close together, indicating no strong momentum in either direction. The lower section of the image features a separate price action chart without indicators for comparison.
🟢 EUR/USD

Trading Signal for EUR/USD

  • Trade Direction: Sell

  • Entry Point: 1.0880

  • Take Profit: TP1: 1.0860, TP2: 1.0840, TP3: 1.0820

  • Stop Loss: 1.0900, slightly above the daily pivot.

  • Confidence Level: Moderate, due to clear technical signals but considering the mixed economic indicators.

Technical Analysis

  • Trend Analysis: Short-term downtrend as price is below Bollinger Bands middle line and Ichimoku Cloud.

  • Key Levels:

  • Resistance: Yesterday's high of 1.0956.

  • Support: Daily pivot of 1.0906, yesterday's low of 1.0880.

Technical Indicators

  • Bollinger Bands: Price is below the middle MA, indicating a downtrend continuation.

  • Ichimoku Cloud: Price is below the cloud, further supporting the downtrend.

  • ATR: 0.00167, suggesting moderate volatility.

  • MACD: Below the signal line and descending, supporting the sell signal.

  • RSI: At 31.92, nearing oversold conditions but still room for downside.

Market Sentiment

  • General Sentiment: Bearish on EUR due to the Empire State Manufacturing Index's contraction, which might be offset slightly by the optimistic Prelim UoM Consumer Sentiment.

  • Impact on Specific Asset: EUR/USD might see downward pressure due to the mixed sentiment and weak industrial production figure.

  • Notable Economic Events: The lower Empire State Manufacturing Index may weigh on the USD, but the stagnant Industrial Production and slightly optimistic consumer sentiment could support the USD, pressuring EUR/USD lower.


Trading Signal for GBP/USD

  • Trade Direction: Sell

  • Entry Point: 1.2730

  • Take Profit: TP1: 1.2710, TP2: 1.2690, TP3: 1.2670

  • Stop Loss: 1.2780, just above the daily pivot.

  • Confidence Level: Moderate, based on the technical indicators and the recent economic events.

Technical Analysis

  • Trend Analysis: The short-term trend appears to be bearish as the price is moving below the middle line of the Bollinger Bands and the Ichimoku Cloud.

  • Key Levels:

  • Resistance: Yesterday's high of 1.2824.

  • Support: Daily pivot of 1.2769, yesterday's low of 1.2731.

Technical Indicators

  • Bollinger Bands: Price is testing the middle MA from below which acts as resistance, indicating bearish pressure.

  • Ichimoku Cloud: Price is below the cloud, suggesting bearish sentiment.

  • ATR: 0.00254, indicating a higher level of intraday volatility.

  • MACD: Below the signal line and trending downwards, supporting a bearish outlook.

  • RSI: At 34.86, not yet oversold, implying there may be more room for the downside.

Market Sentiment

  • General Sentiment: Bearish on GBP due to the bearish technical indicators.

  • Impact on Specific Asset: GBP/USD is likely to be influenced by the broad market sentiment and the relative strength of the USD, considering the economic data released today.

  • Notable Economic Events: None directly affecting GBP at the moment, but the USD sentiment from the economic data released today may influence GBP/USD.



Trading Signal for USD/JPY

  • Trade Direction: Buy

  • Entry Point: 148.35

  • Take Profit: TP1: 148.55, TP2: 148.75, TP3: 148.95

  • Stop Loss: 147.95, just below today's open and the daily pivot.

  • Confidence Level: Moderate, considering the proximity to key technical levels and overall market sentiment.

Technical Analysis

  • Trend Analysis: The short-term trend appears to be neutral to slightly bullish with the price consolidating above the Ichimoku Cloud.

  • Key Levels:

  • Resistance: Yesterday's high of 148.36.

  • Support: Daily pivot of 148.03, yesterday's low of 147.44.

Technical Indicators

  • Bollinger Bands: Price is between the middle and upper bands, indicating potential for an uptrend continuation.

  • Ichimoku Cloud: Price is above the cloud, indicating bullish sentiment.

  • ATR: 0.391, suggesting significant intraday volatility.

  • MACD: Above the signal line, indicating upward momentum.

  • RSI: At 58.71, showing some bullish momentum without being overbought.

Market Sentiment

  • General Sentiment: Mixed, as the U.S. economic data shows some potential for USD strength.

  • Impact on Specific Asset: USD/JPY may see some bullish action, given the optimistic Prelim UoM Consumer Sentiment and the stagnation in Industrial Production m/m which may not be enough to cause significant USD weakness.

  • Notable Economic Events: The Empire State Manufacturing Index contraction could limit USD gains; however, the overall U.S. data may support USD against JPY.



rading Signal for USD/CHF

  • Trade Direction: Buy

  • Entry Point: 0.8850

  • Take Profit: TP1: 0.8870, TP2: 0.8890, TP3: 0.8910

  • Stop Loss: 0.8830, just below the daily pivot.

  • Confidence Level: Moderate, due to current technicals and the overall USD sentiment.

Technical Analysis

  • Trend Analysis: The short-term trend is bullish with the price moving above the Ichimoku Cloud and the middle line of the Bollinger Bands.

  • Key Levels:

  • Resistance: Yesterday's high of 0.8843.

  • Support: Daily pivot of 0.8820, yesterday's low of 0.8781.

Technical Indicators

  • Bollinger Bands: Price is currently testing the upper band, indicating bullish momentum.

  • Ichimoku Cloud: Price is above the cloud, which is typically a bullish signal.

  • ATR: 0.00168, which indicates lower volatility, common for the USD/CHF pair.

  • MACD: Histogram is positive and the MACD line is above the signal line, indicating bullish momentum.

  • RSI: At 72.30, the RSI is indicating overbought conditions, which may signal a pullback or consolidation, hence the moderate confidence.

Market Sentiment

  • General Sentiment: Mixed, as USD strength is indicated by the optimistic Prelim UoM Consumer Sentiment, yet capped by the contraction in the Empire State Manufacturing Index.

  • Impact on Specific Asset: USD/CHF could continue to see upward movement, but traders should be wary of overbought conditions that might prompt a brief retracement.

  • Notable Economic Events: The USD sentiment as affected by the economic data should be monitored closely, as it could influence the strength of the USD against the CHF.



Trading Signal for NZD/USD

  • Trade Direction: Sell

  • Entry Point: 0.6110

  • Take Profit: TP1: 0.6090, TP2: 0.6070, TP3: 0.6050

  • Stop Loss: 0.6150, just above the daily pivot.

  • Confidence Level: Moderate, the technical indicators show a bearish momentum which aligns with the market sentiment.

Technical Analysis

  • Trend Analysis: The price is trending downwards as it is below the Bollinger Bands' middle line and Ichimoku Cloud.

  • Key Levels:

  • Resistance: Yesterday's high of 0.6176.

  • Support: Daily pivot of 0.6142, yesterday's low of 0.6121.

Technical Indicators

  • Bollinger Bands: The price is currently below the middle line, indicating bearish momentum.

  • Ichimoku Cloud: Price is below the cloud, supporting a bearish bias.

  • ATR: 0.00178, showing a moderate level of volatility.

  • MACD: The MACD line is below the signal line, indicating bearish momentum.

  • RSI: At 27.21, indicating that the market may be oversold, which sometimes precedes a reversal; this justifies the moderate confidence level.

Market Sentiment

  • General Sentiment: Bearish for NZD/USD due to the strength in the USD shown by the positive consumer sentiment data and mixed industrial production results.

  • Impact on Specific Asset: The NZD/USD could continue to face downward pressure as the USD may be considered a safer bet in light of the recent economic data.

  • Notable Economic Events: The mixed U.S. economic data releases will be instrumental in driving sentiment for the NZD/USD pair today.



Trading Signal for AUD/USD

  • Trade Direction: Sell

  • Entry Point: 0.6570

  • Take Profit: TP1: 0.6550, TP2: 0.6530, TP3: 0.6510

  • Stop Loss: 0.6610, just above the daily pivot and yesterday's close.

  • Confidence Level: Moderate, backed by the technical indicators and market sentiment, yet cautious due to possible volatility.

Technical Analysis

  • Trend Analysis: The price is below the Ichimoku Cloud and Bollinger Bands middle line, indicating a potential continuation of the downtrend.

  • Key Levels:

  • Resistance: Yesterday's high of 0.6632.

  • Support: Daily pivot of 0.6593, yesterday's low of 0.6569.

Technical Indicators

  • Bollinger Bands: Price is hovering near the lower band, indicating downward pressure.

  • Ichimoku Cloud: Price is below the cloud, which typically suggests bearish momentum.

  • ATR: 0.00179, indicating moderate market volatility.

  • MACD: The MACD line is below the signal line, aligning with the bearish trend.

  • RSI: At 34.89, near the oversold region but not there yet, suggesting there might still be room for a further drop.

Market Sentiment

  • General Sentiment: Bearish on the AUD given the strength in USD from the latest U.S. economic figures.

  • Impact on Specific Asset: AUD/USD could remain under pressure if the USD maintains its position bolstered by the recent economic data.

  • Notable Economic Events: While there are no direct notable events affecting the AUD, the U.S. economic data will likely continue influencing the AUD/USD pair's movement.


Trading Signal for USD/CAD

  • Trade Direction: Buy

  • Entry Point: 1.3540

  • Take Profit: TP1: 1.3560, TP2: 1.3580, TP3: 1.3600

  • Stop Loss: 1.3500, just below the daily pivot.

  • Confidence Level: Moderate, considering the current price movement and technical analysis, alongside economic indicators.

Technical Analysis

  • Trend Analysis: The price is testing the upper range of the Bollinger Bands and is above the Ichimoku Cloud, suggesting a bullish trend.

  • Key Levels:

  • Resistance: Yesterday's high of 1.3542.

  • Support: Daily pivot of 1.3512, yesterday's low of 1.3460.

Technical Indicators

  • Bollinger Bands: The price is nearing the upper band, which could indicate a strengthening bullish trend.

  • Ichimoku Cloud: Price above the cloud suggests bullish sentiment.

  • ATR: 0.00201, indicating relatively low volatility.

  • MACD: The MACD line is above the signal line, supporting a bullish outlook.

  • RSI: At 63.52, the RSI is neither overbought nor oversold, supporting the possibility of continued upward momentum.

Market Sentiment

  • General Sentiment: Bullish on USD/CAD, reinforced by positive U.S. economic data.

  • Impact on Specific Asset: With the U.S. dollar finding support from recent economic data, USD/CAD could see an upward trajectory.

  • Notable Economic Events: The market's reaction to U.S. economic events, including consumer sentiment and industrial production, will be key to the USD/CAD's movements today.



Trading Signal for EUR/GBP

  • Trade Direction: Sell

  • Entry Point: 0.8530

  • Take Profit: TP1: 0.8510, TP2: 0.8490, TP3: 0.8470

  • Stop Loss: 0.8560, just above the daily pivot and yesterday's high.

  • Confidence Level: Moderate, as the technical indicators suggest a bearish bias but the ATR indicates low volatility, which could limit the movement.

Technical Analysis

  • Trend Analysis: The price is below the Ichimoku Cloud, indicating a bearish trend, and near the lower Bollinger Band.

  • Key Levels:

  • Resistance: Yesterday's high of 0.8565.

  • Support: Daily pivot of 0.8544, yesterday's low of 0.8534.

Technical Indicators

  • Bollinger Bands: The price is near the lower band, which could suggest overselling.

  • Ichimoku Cloud: The price is below the cloud, suggesting a bearish sentiment.

  • ATR: 0.00102, indicating low volatility and potentially limited price movements.

  • MACD: The MACD line is below the signal line, supporting a bearish trend.

  • RSI: At 48.29, near the middle range, indicating neither oversold nor overbought conditions.

Market Sentiment

  • General Sentiment: Bearish on EUR/GBP, considering the recent economic indicators from the U.S. that could strengthen the GBP against the EUR.

  • Impact on Specific Asset: EUR/GBP might experience some bearish pressure, but movements could be tempered by low volatility.

  • Notable Economic Events: No direct events affecting the pair at the moment, but broader market sentiment and USD movements could indirectly influence EUR/GBP.


EURJPY"Chart showing a currency pair's performance with candlestick patterns over a year, indicating trends, volatility, and potential trading opportunities in the forex market."
EUR/JPY

Trading Signal for EUR/JPY

  • Trade Direction: Buy

  • Entry Point: 161.50

  • Take Profit: TP1: 161.70, TP2: 161.90, TP3: 162.10

  • Stop Loss: 161.10, slightly below the daily pivot.

  • Confidence Level: Moderate, supported by current technical analysis and market conditions.

Technical Analysis

  • Trend Analysis: Price is currently in a consolidation pattern within the Bollinger Bands and above the Ichimoku Cloud, indicating a potential breakout to the upside.

  • Key Levels:

  • Resistance: Yesterday's high of 161.94.

  • Support: Daily pivot at 161.48, yesterday's low of 161.10.

Technical Indicators

  • Bollinger Bands: Price action is mid-range, which does not indicate a strong trend; however, there is a potential for an upward move.

  • Ichimoku Cloud: Price is above the cloud, suggesting a bullish bias.

  • ATR: 0.372, indicating high volatility.

  • MACD: The MACD line is slightly above the signal line, suggesting bullish momentum.

  • RSI: At 47.05, it indicates that the market is neither oversold nor overbought, providing room for potential movement in either direction.

Market Sentiment

  • General Sentiment: Moderately bullish on EUR/JPY, considering the latest U.S. economic indicators which may impact market sentiment towards the euro and the yen.

  • Impact on Specific Asset: The pair may continue to experience bullish momentum if the euro benefits from a broader market risk-on sentiment.

  • Notable Economic Events: The recent U.S. data and upcoming European economic reports will influence the pair's movement throughout the trading session.


EUR/CHF "Chart showing a currency pair's performance with candlestick patterns over a year, indicating trends, volatility, and potential trading opportunities in the forex market."
EUR/CHF

Trading Signal for EUR/CHF

  • Trade Direction: Buy

  • Entry Point: 0.9620

  • Take Profit: TP1: 0.9640, TP2: 0.9660, TP3: 0.9680

  • Stop Loss: 0.9600, just below the daily pivot.

  • Confidence Level: Moderate, given the technical setup and market sentiment.

Technical Analysis

  • Trend Analysis: The price is oscillating around the middle Bollinger Band and above the Ichimoku Cloud, suggesting a potential upward trend.

  • Key Levels:

  • Resistance: Yesterday's high of 0.9631.

  • Support: Daily pivot of 0.9618, yesterday's low of 0.9608.

Technical Indicators

  • Bollinger Bands: The price is near the middle band, which can serve as a pivot point for either trend direction.

  • Ichimoku Cloud: The price above the cloud indicates bullish potential.

  • ATR: 0.00135, which signals low to moderate volatility.

  • MACD: The MACD line is above the signal line, which can indicate increasing upward momentum.

  • RSI: At 61.04, it suggests some buying pressure, though not in the overbought territory.

Market Sentiment

  • General Sentiment: Bullish on EUR/CHF, considering the current EUR strength and market conditions.

  • Impact on Specific Asset: EUR/CHF could move higher if the euro continues to find support in the market.

  • Notable Economic Events: The pair could be influenced by shifts in market sentiment following the release of economic indicators from both the Eurozone and Switzerland.

 

Disclaimer: These Forex Trade Signals are based on the current charts and market conditions. Always conduct your own analysis and consider risk management strategies before entering any trade. Markets are dynamic, and conditions can change rapidly.


As with all investments, your capital is at risk. Investments can fall and rise and you may get back less than you invested.


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Forex signals, comments and analysis created and reflect the views forex368.com at any given time and are subject to change at any time. ©2024 by forex368.com.


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