USD continued to weaken yesterday

21 March, 2017


Price consolidated yesterday as directional catalysts have subsided in the wake of the ECB/ FOMC meetings.  Local resistance at the January high of 1.0828 is the first challenge. Above their puts the focus on the bigger technical level of 1.0975 which is the 50% Fibonacci retracement from last year’s high. We also have the completion of an ABCD symmetry pattern at the level as well as bearish channel resistance in the area also. Will be monitoring price action around that level for short opportunities. Support sits below market at the 1.0490s level which is the Feb & March lows.


The government’s confirmation of a date to officially trigger Article 50 (March 29th) fuelled a sell-off in GBP. Today focus will be on the Feb CPI data, expected to print strongly. For now, price is stalled at the 50% retracement from year-to-date highs ahead of bearish trend line resistance with stronger  resistance sitting just above at the 1.2797/1.2871 area. Support sits below market at the 1.1993 level which is the year to date low, with bearish channel support just below.


USD continued to weaken yesterday as markets continue to digest the FOMC and alter positions accordingly. Price is currently holding at symmetry support at the 112.24 level, just ahead of key structural lows, which should provide support for a rotation higher.

Source link  
Japan's Q2 GDP rebounds by 3.0%

The latest revised GDP numbers from Japan showed that the economy advanced faster than previously expected. The data on the final reading...

Dollar continues to slide

The greenback continued to weaken against some of the major currencies yesterday amid a quiet trading day...

Dollar looks to a new week

The US dollar index will be looking to a fresh week with the possibility of a rebound following last week's sharp declines..

US dollar rebounds as investor nerves cool

The US dollar managed to stem the strong declines after developments from Washington...

EURUSD unstoppable at a 6-month high

The euro surged ahead to a fresh 6-month high earlier this morning as the price was seen tradingþ...

Will UK's wages catch up?

The US dollar extended declines strongly for another day as economic data...

US dollar stays subdued

The latest monthly manufacturing activity report released by the New York Fed yesterday...

US dollar slips on soft inflation figure

The US dollar fell sharply on Friday after data showed that consumer price index rose 0.2%...

US dollar looking weaker

Economic data from the US continued to remain robust with the initial jobless claims declining to 236,000 for the week...

In the past 24 hours Bitcoin has lost -0.44% and reached $6452.75522737. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has gained 0.6352% and is now at $1.1587. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 2.61% and is now at $203.173094861. Have the most popular cryptocurrencies compared online 24/7.

Top Brokers offering Forex Market Analysis

Forex Currencies Forecasts

Top 10 Forex Brokers 2018

# Broker Review
6FIBO GroupFIBO Group84%