Mar 10 2021 0

The USD has ended consecutive rising circuits and is appearing quite strong selling pressure, which is causing some remarkable reversal signals.

Latest updates:

  • In addition to bond yields, promoting the price increase of USD this year is also in positive economic data, analysts have modified their forecasts of higher US growth while tends to Adjust their forecasts to other countries.
  • Income on 10-year term treasury bonds currently trading about 1.55%, lower than 1.62% seen in the end of last week, but can rise again this week because the market will have to "digest" the match Bond prices futures 3, 10 and 30 years.
  • ECB Members: Dual recession in the EU was no longer the most important issue, instead deploying the vaccine and reopening the economy.
  • Bicoin's recovery was motivated by a strong capital mobilization because Chinese companies are trying to expand electronic money.

USD/JPY

USDJPY Mar 10

After many consecutive gaining sessions and destroying many important resistance levels, the momentum finally stopped. The bears sold strongly around 109, creating bearish signals. Although the price has not reached 109.5 - 109.7 as expected, but with the current price actions, Short-term Reversal Traders can consider probe orders. If the price successfully breaks area 108 and the short-term uptrend line, you can add positions. The initial target is around 107.

EUR/USD

EURUSD Mar 10

The price was recovered in the last session after breaking the bottom of the price channel. However, the buying force is not too strong and has not yet exceeded above 1.190 clearly. At this price range, the sellers should not continue because the reduction margin is no longer and the previous channel breakout can be a false one. We hope the price will continue to recover but the signal is not strong enough for you to be confident to buy. Please be careful.

GBP/USD

GBPUSD Mar 10

The price does not break the area of ​​1.380 as expected, so we cannot supplement the sell orders. Currently, the price has recovered to a constant area of ​​109 accompanied by a bearish signal (weak) on H4 Chart. We still keep selling orders with the target of 1.365. However, in case the price of short-term declining channels, we should consider exiting orders. It may be a sign of continuation of long-term uptrends. In this case, we need to observe the price action around the 1.40 zone for more information.

USD/CAD

USDCAD Mar 10

Not much change on USD/CAD Chart. Prices are still stuck between the range 1.260 - 1.275. In the new session, things might be different because of BOC's policy meeting. We will wait for the breakout of this range to get the next direction. In case the price breaks above, it will be a confirmation of a price increase structure. In contrast, it is likely that it will re-check the bottom around 1.245.

AUD/USD

AUDUSD Mar 10

The sale has not been able to push the price of 0.76 support, instead trying to maintain 0.77. We continue to follow the downward trend. Keep current sell orders. The goal is still 0.76. However, in case the 0.77 area is destroyed, the price can re-check the uptrend line, and this can be another chance to sell.

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Fanara Filippo

Hey, I’m Fanara Filippo. I’m the founder of this site. I'm currently living in Bangkok, Thailand. I have been trading forex for more than 5 years. You can read my articles about the best forex brokers on this page. Let’s review brokers today.

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