Analyst from the company ForexMart (ForeksMart)
EUR / USD. 31.03. What will happen to the euro?
The pair closed yesterday decrease. The euro started to lose ground Monday, and only towards the end of yesterday's fall slowed. Reaching a level of 1.0669 the pair has moved to increase. The pair is currently trading near the 1.0688 level. RSI is in the oversold zone. MACD is in negative territory and continues to decline. Candles are located below all the MA, except for the simple moving average with a period of 200. Today is the last day of the month and the end of the first quarter, how to behave in a couple is hard to predict. However, if the pair is below 1.0670, it will allow the dollar to go under the level of 1.0600.
USD / JPY. 31.03. The Bulls went on the attack.
Currency pair USD / JPY after the "doji" formed a large full-bodied candle upward, breaking the resistance level of 111.50. Bulls have organized a counter-offensive against the strengthening of the US dollar due to the better than expected GDP data in Q4. Good US economic indicators improve the chances of increasing interest rates at the June meeting of the Fed. On the other hand, Trump said it is considering action against a "currency manipulator." US President can exert pressure on countries that strengthen their national currency, which will lead to a further weakening of the US dollar. At the moment, the immediate goal is at the resistance level of 112.50, support at 111.50.
AUD / USD. 31.03. "Inside bar" with a support on 0.7670.
The currency pair AUD / USD traded in a narrow range 0.7600-07670. Yesterday the Aussie formed model "inside bar" with the support of the upper limit of the corridor is likely to pair today will reach the target at 0.7670, but the course the price is small and the trend is still emerging, so to enter the market is risky. The US dollar was supported thanks to the good GDP data in Q4, while the Australian strengthened today due to increased industrial activity in China. The most likely is still a continuation of the uptrend in Maksimov goals but confirming signals are fairly weak.
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