Mar 15 2021 0

USD recovered in the weekend session but could not regain the important level 92. This can really affect how we should trade today.

Latest updates:

  • The dollar rose on Friday, rebounding previous session losses as Treasury yields surged in early European trading triggered a risk-averse move in global money markets, the risk currency is also strongly influenced.
  • President Joe Biden told the country's states on Thursday that it would try to get all adults vaccinated by May 1, just hours after he signed the new stimulus bill. worth up to 1.9 trillion USD.
  • The UK economy declined less than worried in January when the country returned to a blockade to prevent the epidemic, but trade with the EU was severely affected by Brexit.
  • The European Central Bank said on Thursday that it would speed up the printing of money to prevent an increase in euro-zone bond yields.
  • The Biden administration has revised permits for companies to sell products to China's Huawei, a new blow to Chinese companies.

USD/JPY

USD/JPY Mar 15

Price followed scenario 2, completing a bullish flag pattern on the H4 chart. This is a model with a very high probability of winning according to Thomas Bulkowski. Anyone who has entered a buy order early can move the Stop Loss to reduce risk. The uptrend will be officially confirmed to continue if the previous peak of 109.3 is broken. However, the range to the round number 110 is not much. New buy orders should be considered with caution. In addition, the possibility of price forming a double-top pattern around 109.3 is not excluded. In general, it is necessary to wait for new price action signals to confirm what to do next.

EUR/USD

EUR/USD Mar 15

The price fell from the 1.20 resistance zone as expected but did not accompany any really noticeable bearish signals. Therefore, we keep watching the 1.20-21 zone for new signals. We still expect sellers to return around this price zone.

GBP/USD

GBP/USD Mar 15

The price has turned down sharply from the 1.40 zone and appears to continue in the previous range. For now, the head and shoulders pattern has also changed slightly with the recent price action. The neckline at 1.40 will confirm this model. For range traders, if you have an order, you might consider moving your Stop Loss to reduce risk and set your target around 1.38. Those who wait for the return of the uptrend should watch 1.40. When this price zone is broken, action should be considered.

USD/CAD

USD/CAD Mar 15

Price approached the target of 1,245 as expected. Consider exiting or partially exiting the order and moving the Stop Loss to minimize the risk. The downside momentum is doing very well but we should only continue selling when there is a clear signal to break the 1.245 zone. Then the next target will be around 1.23.

AUD/USD

AUD/USD Mar 15

The price bounced back from the 0.78 zone as expected after completing the price target of the previously formed double bottom pattern. With that said, this uptrend line retest is your chance to get back to sell orders. However, the reliable bearish signal has not appeared yet, so we need to be more patient.

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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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