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Forex Signals & Market Insights: March 18- Intraday Focus

It is set to be a relatively quiet start to the trading week today before the potential volatility of central bank updates and data releases kicks in.


  • Fed Meeting: Key focus on potential interest rate cues, with recent U.S. inflation data suggesting a possible hawkish stance.

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: 1.0830

  • TP3: 1.0800 (near Friday's low)

  • Stop Loss: 1.0905 (above Friday's pivot and close)

  • Confidence Level: Moderate, considering the proximity to key levels and current technical indicators.

Technical Analysis

  • Trend Analysis: Short-term trend appears to be bearish, with the price below Friday's pivot point and the Ichimoku Cloud indicating downward momentum.

  • Key Levels:

  • Resistance: Friday's high at 1.0901

  • Support: Friday's pivot at 1.0888, Friday's low at 1.0873

Technical Indicators

  • Bollinger Bands: Price is fluctuating near the middle band, indicating a possible continuation of the current trend.

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

  • ATR: 0.00147, indicating a relatively low level of market volatility.

  • MACD: Bearish crossover and moving below the signal line.

  • RSI: Near 40, suggesting slight bearish momentum without being oversold.

Market Sentiment

  • General Sentiment: Neutral to bearish, with traders potentially waiting for cues from the Fed meeting.

  • Impact on Specific Asset: EUR/USD could be influenced by the anticipation surrounding the Federal Reserve's tone on interest rates.

  • Notable Economic Events: The upcoming Fed meeting is a significant event that could affect the asset's price direction with any announcements regarding monetary policy changes.


Trading Signal for GBP/USD

  • Trade Direction: Buy

  • Entry Point: 1.2735

  • Take Profit:

  • TP1: 1.2755

  • TP2: 1.2770

  • TP3: 1.2790 (near Friday's high)

  • Stop Loss: 1.2720 (below Friday's pivot and low)

  • Confidence Level: Moderate, due to the price's proximity to Friday's pivot and the technical indicators suggesting a potential upward move.

Technical Analysis

  • Trend Analysis: Short-term is neutral, with the price hovering around the Ichimoku Cloud, suggesting indecision.

  • Key Levels:

  • Resistance: Friday's high at 1.2760

  • Support: Friday's pivot at 1.2739, Friday's low at 1.2725

Technical Indicators

  • Bollinger Bands: Price is close to the lower Bollinger Band, potentially indicating an oversold condition and a reversal point.

  • Ichimoku Cloud: The price is within the cloud, indicating a lack of a clear trend in the short term.

  • ATR: 0.00222, reflecting moderate market volatility.

  • MACD: Histogram is showing a reduction in downward momentum, which could indicate a potential reversal.

  • RSI: Near 40, which can be seen as a sign of potential upside if the market perceives it as oversold.

Market Sentiment

  • General Sentiment: Neutral, with a cautious tone prior to the central bank updates.

  • Impact on Specific Asset: The GBP/USD pair may see volatility from the Fed meeting but also from any UK economic updates or Brexit-related news.

  • Notable Economic Events: The Federal Reserve meeting is of high importance and could sway GBP/USD prices, particularly if there are unexpected statements or shifts in policy.



Trading Signal for USD/JPY

  • Trade Direction: Buy

  • Entry Point: 149.00

  • Take Profit:

  • TP1: 149.30

  • TP2: 149.60

  • TP3: 150.00 (near recent highs)

  • Stop Loss: 148.70 (just below Friday's pivot)

  • Confidence Level: Moderate to High, given the bullish indicators and recent price action above the pivot level.

Technical Analysis

  • Trend Analysis: Short-term trend is bullish as the price is above the Ichimoku Cloud and making higher lows and higher highs.

  • Key Levels:

  • Resistance: Recent high at 149.16

  • Support: Friday's pivot at 148.75, Friday's low at 148.03

Technical Indicators

  • Bollinger Bands: Price is above the middle Bollinger Band, indicating an uptrend.

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

  • ATR: 0.387, showing increased volatility which is common in bullish trends.

  • MACD: Positive MACD with the histogram showing increased bullish momentum.

  • RSI: Above 60, indicating strong bullish momentum without being in the overbought territory.

Market Sentiment

  • General Sentiment: Bullish, with the market possibly factoring in the Fed's interest rate decisions and their impact on the USD.

  • Impact on Specific Asset: USD/JPY could see increased bullishness if the Fed's tone is more hawkish than expected, reinforcing USD strength.

  • Notable Economic Events: The Federal Reserve meeting and any significant economic data releases from the U.S. or Japan this week could lead to volatility and potential trend reinforcement or reversal for the USD/JPY pair.



Trading Signal for USD/CHF

  • Trade Direction: Buy

  • Entry Point: 0.8840

  • Take Profit:

  • TP1: 0.8860

  • TP2: 0.8880

  • TP3: 0.8900 (if the momentum continues towards the upper Bollinger Band)

  • Stop Loss: 0.8820 (just below Friday's pivot)

  • Confidence Level: Moderate, based on the current position within the Bollinger Bands and Ichimoku Cloud, as well as the positive MACD.

Technical Analysis

  • Trend Analysis: The short-term trend is neutral to bullish, with the price above the Ichimoku Cloud and approaching the upper Bollinger Band.

  • Key Levels:

  • Resistance: Friday's high at 0.8854

  • Support: Friday's pivot at 0.8836, Friday's low at 0.8819

Technical Indicators

  • Bollinger Bands: The price is approaching the upper band, suggesting bullish momentum.

  • Ichimoku Cloud: The price is above the Cloud, indicating bullish potential.

  • ATR: 0.00162, indicating a lower volatility environment, which could favour trend continuation.

  • MACD: Histogram trending upwards above the signal line, which is a bullish sign.

  • RSI: Just above 60, indicating bullish momentum but not yet overbought.

Market Sentiment

  • General Sentiment: Neutral to bullish, with investors potentially positioning for a hawkish Fed.

  • Impact on Specific Asset: The USD/CHF pair could strengthen if the Fed signals a more aggressive stance on interest rates, supporting the USD.

  • Notable Economic Events: The Fed meeting remains a key event that could significantly impact market sentiment and the direction of USD/CHF.



Trading Signal for NZD/USD

  • Trade Direction: Sell

  • Entry Point: 0.6090

  • Take Profit:

  • TP1: 0.6070

  • TP2: 0.6050

  • TP3: 0.6020 (approaching Friday's low)

  • Stop Loss: 0.6110 (just above Friday's pivot)

  • Confidence Level: Moderate, considering the current bearish indicators and resistance level.

Technical Analysis

  • Trend Analysis: Short-term trend is bearish with the price below the Ichimoku Cloud.

  • Key Levels:

  • Resistance: Friday's pivot at 0.6099

  • Support: Friday's low at 0.6080

Technical Indicators

  • Bollinger Bands: Price is approaching the lower Bollinger Band, which could indicate oversold conditions soon.

  • Ichimoku Cloud: Price is below the cloud, signaling a bearish trend.

  • ATR: 0.00162, suggesting moderate volatility.

  • MACD: The histogram is below the signal line and negative, which supports the bearish trend.

  • RSI: Around 34, indicating bearish momentum and nearing oversold territory.

Market Sentiment

  • General Sentiment: Bearish, as traders may anticipate a stronger USD in light of potential Fed actions.

  • Impact on Specific Asset: NZD/USD is sensitive to changes in market risk sentiment and may react to the Fed's meeting with increased volatility.

  • Notable Economic Events: Besides the Fed meeting, any economic updates from New Zealand could affect the NZD/USD pair's movement.



Trading Signal for AUD/USD

  • Trade Direction: Sell

  • Entry Point: 0.6560

  • Take Profit:

  • TP1: 0.6540

  • TP2: 0.6520

  • TP3: 0.6500 (near recent lows and psychological support level)

  • Stop Loss: 0.6575 (above Friday's pivot)

  • Confidence Level: Moderate, based on the technical indicators suggesting a continued bearish momentum.

Technical Analysis

  • Trend Analysis: Short-term trend appears bearish as the price is below the Ichimoku Cloud.

  • Key Levels:

  • Resistance: Friday's pivot at 0.6564

  • Support: Friday's low at 0.6551

Technical Indicators

  • Bollinger Bands: Price is nearing the lower Bollinger Band, which may indicate an oversold market soon.

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

  • ATR: 0.00162, indicating a moderate level of volatility.

  • MACD: Bearish as the histogram is below zero and the signal line.

  • RSI: Around 38, indicating bearish momentum but not yet in oversold conditions.

Market Sentiment

  • General Sentiment: Bearish on the AUD due to market anticipation of a stronger USD and potential risk-off sentiment.

  • Impact on Specific Asset: AUD/USD may see further downward pressure if the Fed's meeting indicates a hawkish stance, bolstering the USD.

  • Notable Economic Events: The Fed meeting, along with any significant economic releases from Australia or global market sentiment shifts, could influence the direction of the AUD/USD currency pair.


Trading Signal for USD/CAD

  • Trade Direction: Buy

  • Entry Point: 1.3540

  • Take Profit:

  • TP1: 1.3560

  • TP2: 1.3580

  • TP3: 1.3600 (if the momentum reaches for the higher levels)

  • Stop Loss: 1.3520 (just below Friday's pivot)

  • Confidence Level: Moderate, taking into account the current positioning of price within the Bollinger Bands and the MACD indication.

Technical Analysis

  • Trend Analysis: Short-term trend is neutral to slightly bullish as the price oscillates around the Ichimoku Cloud.

  • Key Levels:

  • Resistance: Yet to be established above the current price level.

  • Support: Friday's pivot at 1.3536, Friday's low at 1.3511

Technical Indicators

  • Bollinger Bands: Price is moving towards the upper Bollinger Band, suggesting an upward momentum.

  • Ichimoku Cloud: The price is just above the Cloud, indicating potential for bullish movement.

  • ATR: 0.00202, indicating some level of market volatility.

  • MACD: The histogram is above the signal line and positive, pointing to increased bullish sentiment.

  • RSI: Just below 60, indicating momentum but not yet overbought.

Market Sentiment

  • General Sentiment: Neutral to bullish on USD/CAD, with potential market adjustments ahead of the Fed meeting.

  • Impact on Specific Asset: Any hawkish cues from the Fed could lead to USD strength, which would impact the USD/CAD pair positively from the USD side.

  • Notable Economic Events: The upcoming Fed meeting is of high significance and could provide volatility for the pair, along with any pertinent economic data releases from Canada.



Trading Signal for EUR/GBP

  • Trade Direction: Sell

  • Entry Point: 0.8540

  • Take Profit:

  • TP1: 0.8520

  • TP2: 0.8500

  • TP3: 0.8480 (closer to the lower Bollinger Band)

  • Stop Loss: 0.8560 (above Friday's pivot)

  • Confidence Level: Moderate, given the mixed signals from technical indicators but leaning towards the bearish side.

Technical Analysis

  • Trend Analysis: Short-term trend is neutral, with a tendency towards bearishness as the price is just below the Ichimoku Cloud.

  • Key Levels:

  • Resistance: Friday's high at 0.8557

  • Support: Friday's pivot at 0.8546, with further support near the lower Bollinger Band

Technical Indicators

  • Bollinger Bands: Price is in the middle of the bands, no clear indication from here.

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

  • ATR: 0.00101, indicating low volatility which tends to reduce the likelihood of strong price movements.

  • MACD: The MACD line is above the signal line but both are near zero, suggesting weak momentum.

  • RSI: Around 55, which is neutral territory, indicating no strong momentum to either side.

Market Sentiment

  • General Sentiment: Neutral, with traders possibly waiting for clear signals from broader market cues.

  • Impact on Specific Asset: EUR/GBP could be affected by any significant economic news from the Eurozone or the UK, as well as shifts in sentiment due to the Fed meeting.

  • Notable Economic Events: The pair will likely respond to the Fed's meeting and any new developments regarding Brexit or the economic outlook in both the Eurozone and the UK.


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: 162.30

  • Take Profit:

  • TP1: 162.60

  • TP2: 162.90

  • TP3: 163.20 (near recent highs)

  • Stop Loss: 161.90 (just below Friday's pivot)

  • Confidence Level: High, given the bullish indicators and price above the pivot level.

Technical Analysis

  • Trend Analysis: Short-term trend is bullish with price above the Ichimoku Cloud and ascending.

  • Key Levels:

  • Resistance: Recent high at 162.43

  • Support: Friday's pivot at 161.94, with the Ichimoku Cloud providing dynamic support.

Technical Indicators

  • Bollinger Bands: Price is close to the upper Bollinger Band, suggesting upward momentum.

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

  • ATR: 0.387, reflecting significant market volatility, which aligns with the bullish momentum.

  • MACD: Positive MACD with the histogram increasing, which suggests bullish momentum.

  • RSI: Around 63, indicating bullish momentum without being overbought.

Market Sentiment

  • General Sentiment: Bullish, with the market possibly anticipating continued strength in the Euro against the Yen.

  • Impact on Specific Asset: The EUR/JPY pair may react positively if the Eurozone economic indicators are strong or if there is market uncertainty affecting the Yen.

  • Notable Economic Events: Besides the Fed meeting, investors will monitor the Bank of Japan's policy decisions and any significant economic releases from the Eurozone that could impact the currency pair.


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 (considering the recent high and psychological resistance levels)

  • Stop Loss: 0.9600 (below the daily pivot and recent support levels)

  • Confidence Level: Moderate, aligning with the bullish momentum indicated by the technical analysis.

Technical Analysis

  • Trend Analysis: The trend is generally neutral but with a slight bullish bias as the price is above the Ichimoku Cloud.

  • Key Levels:

  • Resistance: Friday's high at 0.9634

  • Support: Daily pivot at 0.9619, with an additional support level at Friday's low of 0.9606

Technical Indicators

  • Bollinger Bands: The price is between the middle and upper band, indicating a possible continuation of the upward movement.

  • Ichimoku Cloud: The price is above the Cloud, suggesting bullish potential.

  • ATR: 0.00134, which suggests a lower level of volatility.

  • MACD: The MACD line is above the signal line, although both are near zero, indicating a slight bullish momentum.

  • RSI: Near 60, suggesting some bullish momentum without being overbought.

Market Sentiment

  • General Sentiment: Neutral to slightly bullish, with the market potentially responding to broader Eurozone sentiment and Swiss economic indicators.

  • Impact on Specific Asset: The EUR/CHF pair could be influenced by shifts in risk sentiment and policy updates from the European Central Bank or Swiss National Bank.

  • Notable Economic Events: The upcoming Fed meeting could affect global currency markets, including EUR/CHF, with any unexpected changes in policy likely to cause fluctuations.

 

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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