Technical analysis of FOREX for 19.03.2014
From the technical point of view, EURUSD’s future still has not been decided. Today’s press-conference that will given by J. Yellen could push EURUSD up. If the currency will be able to fix it’s positions above the 1,3790, we recommend buying pair with a possible resistance levels at 1,4010, 1,4040 and 1,4070.
GBPUSD is indicating a possible downtrend in the near future. If the released today UK data will be strong it will break the trend and currency pair will return back to the previous levels. Still, we recommend traders to plan only short positions, after fixing it’s positions below the 1,6570, pound will weaken to1,6540, 1,6500 and 1,6470.
USDCHF is forming a bullish figure, but the overall rise is unimpressive. Last lows have not been beaten by the traders, which was indicating a much faster growth, which has not happened. The situation is still unclear, but today’s FOMC decisions should put an end to it.
AUDUSD is basically following the the instrutions I gave in the last article. After I opened the position at 0,9085, Australian dollar moved to 0,90130. I would suggest moving stop-loss to the opening level and keep the positions until it reaches the next proposed level – 0,9170 and 0,9210.