Forex analysis 09/03/2015
Starting with last Friday news. The bulleting point of that day was USD calendar news along with the CAD same time and clearly bad sentiment for that currency, made the markets moving sky high. That affection was in many correlated pairs and of course EUR did not left out of this game. The price went to January 2003 lows with no seconds thoughts for return.
Based on today News. We already saw some JPY calendar results had some affection to the markets, but we believe that the market will be focused at EUR currency. While the last Friday was devastating for the currency we expect some correction/retracement. This not save the day as most important calendar new is all day Euro group meetings. It is too early to say what will happen to Greece in this meetings but we already found articles saying that no decisions will be made for today and the usual bad sentiment for GRexit or not. Other than that the markets will be moving due to technical analysis moistly today. We expect volatility on US session to occur, if nothing unexpected for EU session.
The pairs we should expect to have the clearest movement, 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
Support 1: 1.0822 (Low price Asian Session)
Support 2: 1.0790 (Lower Band 4h Timeframe)
Resistance 1: 1.090 (Lower Band of Daily Timeframe)
Resistance 2: 1.100 (Ma20 4H Timeframe)
Support 1: 1.3616 (Low of 6th March )
Resistance 1: 1.3753 (MA20 4H Timeframe ,Closing price daily 4th March and Opening price 5th March)
Resistance 2: 1.3829 (High price 5th March)
Support 1: 0.7311 (Low price 12th February)
Support 2: 0.7250 (Lower Band of BB)
Resistance 1: 0.7375 (High price 4h Candlestick 6th March 20:00)
Resistance 2: 0.7450 (High price of the first days February)