Tuesday, March 10, 2015

Daily Forex Analysis 10th March 2015


Fundamental


Starting yesterday news, nothing unexpected happened. While the EU continues to fall, USD sentiment continues to be very good, the GRexit question all over the place, Euro group meeting results didn’t ‘’ruffled the waters’’ and the market continued the same way. The volatility was quite low as the investors had their eyes on the newly, finally starting ECB bond-buying program.   

Based on today News. The only important today from the calendar was the CNY –CPI y/y and PPI y/y at 2:30am London time but still we didn’t see any direct impact on the commodity dollars. Today the markets seems more technical and with the already oversold markets, we still expect some correction/retracement in general.

Technical


 
 
 
 

The pairs we should expect to have the clearest movement remain the same and they are: EUR/USD, EUR/CAD and NZD/USD for bearish signals. With combination of the fundamental news, the pairs with the major volatility should be EUR/USD and EUR/CAD

Furthermore:

 

EURUSD

 

 

 

 

 

Support 1: 1.0735 (Lower Band 4h Timeframe BB)

Support 2: 1.0650 (Lower Band Weekly Timeframe BB)

 

Resistance 1: 1.0825 (Lower Band of Daily Timeframe)

Resistance 2: 1.0900 -10910 (Ma20 4H Timeframe – High Price 9th March)

 

 

 

EURCAD
 
 

Support 1: 1.3616 (Low of 6th March )

 

Resistance 1: 1.3734 (High Price 9th March 2015)

Resistance 2: 1.3783 (Upper Band BB 4H Timeframe)

 

NZDUSD
 
 

Support 1: 0.7275 – 0.7265 (Low price Asian Session-Lower Band 4H BB )

Support 2: 0.7175  (Low price 3rd February 2015)

Resistance 1: 0.7320 -0.7325 (Lower Price 9th March 2015 – Lower Band of the BB Daily)

Resistance 2: 0.7388 (High price 9th March)

 

 

 

 

 

 

 

 

For more information:

Please check our website (http://akfinancials.blogspot.gr/), or email at                                         stavgianoudakis@akfinancials.net                                                                                                Written by Konstantinos Stavgianoudakis

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