Mar 24 2021 0

Volatility can be seen on the charts today, which gives us opportunities to trade.

Latest updates:

  • The dollar strengthened on Tuesday, with focus on testimony from Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen, making its first joint appearance before the US House of Representatives Financial Services Committee.
  • Mr. Powell reaffirmed that the Fed has enough tools to deal with inflation.
  • The US $60 billion 2-year bond auction was no surprise, with interest rates reaching 0.152%.
  • The NZDUSD fell to 0.7076, hitting a three-month low, after the New Zealand government announced new measures to try to cool down its heated real estate market.
  • Britain's primary unemployment rate fell to 5.0% in the three months through January from 5.1% in the last quarter of 2020, contrary to forecasts in a Reuters poll of a small increase to 5.2%.
  • The European Central Bank (ECB) will do its part to keep borrowing costs extremely low, said Philip Lane, ECB chief economist.

USD/JPY

USD/JPY Mar 24

The price has approached the neckline of the Double Top pattern, which is also the lower boundary of the range. We can continue to hold probes sell orders and maybe move the Stop Loss to reduce risk. Please wait patiently for the opportunity to replenish your position when the price breaks down to 108.4. The target will be the 107 price range.

EUR/USD

EUR/USD Mar 24

EUR/USD has been heavily sold in the last session and is now approaching its lowest price level since late November of last year. Selling pressure is being evident. We should be ready for short orders. The trigger signal will be when the price breaks the 1.180 - 1.185 zone. The target then will be the price zone 1.17.

GBP/USD

GBP/USD Mar 24

GBP/USD has also been strongly sold in the past session, and the bulls have lost the important 1.38 mark. These new price actions have forced us to adjust tactics. Buying at this point is no longer appropriate, instead selling on a newly revised bearish structure. This is a continuation of the major trend correction on the daily chart, and the target will be around the lower boundary of the uptrend channel, the 1.355 - 1.360 zone.

USD/CAD

USD/CAD Mar 24

The price recovered to the zone 1.26 as expected. This is an important transition area that we are currently selling. However, we should not be in a hurry, because the buying pressure is quite strong and there is no reliable model enough for us to activate the order. Continue to wait. In case the price breaks out of the channel, the bulls can push the price to the zone 1.270-75.

AUD/USD

AUD/USD Mar 24

Hopefully, you can add your short position next to the previous exploration orders when the price breaks the 0.77 support zone. The downward momentum is very strong, but the price is approaching the lowest price range this year, so we cannot rule out the possibility that there will be an adjustment. You should consider partial exit and move Stop Loss to minimize risk. The next target will be the lower boundary of the long-term upside channel.

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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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