Analyst from the company ForexMart (ForeksMart)
AUD / USD. 06.03. The pair is being corrected after a strong fall.
The currency pair AUD / USD has formed on the daily chart reversal pattern "pin-bar" with a support on the level of 0.7560. During his speech, the Fed began to weaken the US currency, although no "pigeon" signals intelligence is not found, and even vice versa - with a 90% probability of expected interest rate hike at the meeting in March. If this week on the labor market report will be positive, forward the next phase of strengthening of US dollar, so you should look at the bearish signals from the medium-term objectives in the area of 0.7500.
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EUR / USD. 06.03. It is expected downward correction.
Bidding on Friday resulted in the growth of the pair EUR / USD. The tool was able to regain its position with a minimum of 1.0495 to 1.0623 after the speech D. Yellen. The head of the US Federal Reserve confirmed the intention of the Central Bank to raise rates at the next FOMC meeting on March 15. After her speech traders chose to take some profits, which negatively impact on the US currency on the entire market.
Monday - the day of correction. We expect a corrective decline to 1.0572. The price is above the average line Bollinger bands above 5-EMA-EMA and 13. Relative Strength Indicator is moving horizontally below the overbought level. MACD is above zero, and continues to grow. Today the pair to trade in a narrow range 1,0583-1,0623. Breakdown of the upper or lower limit will lead to the development of motion, respectively, up or down.
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USD / CHF. 06.03. "Rails" within the boundaries of the trend.
Currency pair USD / CHF at the end of the trading week has formed a candlestick pattern "rails", adjusting with respect to the upward trend. Today steam traded in a narrow range in the trendline near simple MA (50) (see. Graph). US dollar weakened at the end of the week against the background of Bernanke speech, in spite of the high expectations of hawkish policy at the March meeting. Most likely, a temporary weakening of the US currency in the case of forming the respective signals can look at buying, increased volatility is expected in the middle of the week.
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