Forex Weekly Analysis 04/16 March

Category: Forex
Add Date: 03.03.2018
Video Description:

The uncertainty about the upcoming elections in Italy over the weekend and the data released from the US are causing the Euro-Dollar parity to be under pressure. The strength of the US employment and ISM data leads to the collapse of the parity, while the fact that Dollar interest rates have not risen sufficiently may cause the possible decline of the Euro Dollar parity. For this reason, short-term increases can be considered as an opportunity to sell but it would be wrong to say that the declines will be very obvious.

Sterling-Dollar can be sold around 1.3850

Today the direction of the Sterling-Dollar parcel will be announced by the Bank of England president Carney and the Euro-Sterling parliament's move. We've been watching the Dollar index has already risen in recent days. This may add to the pressure on the Sterling-Dollar pair. At this point, if Carney, the president of the Bank of England, is not present in the new declarations that the policy of interest will turn into a traditional pattern, then short-term rise of the Sterling-Dollar parity is considered as a sales opportunity. At this point, we think that the sales positions of the open positions to be made around 1.3850 will make money.

Dollar-Yen's Fall Stops

Despite the positive US economic data, dollar-denominated interest rates and a marked rise in the VIX index caused the Dollar-Yen parity to decline. Under normal conditions, the dollar-yen parity should have risen, but the factor that disturbed the game here was the tension in the VIX index. Now the VIX may continue its uptrend, but the drop in the Dollar-Yen parity will not be sustainable. The withdrawal of the parity at this point may give the opportunity for short-haul purchases.

Gold must be bought one more time

Gold prices rose to a level of $ 1318 this morning with a sudden drop in 1302 and a sudden rise in session immediately, despite Dollar interest rates remaining high and the VIX index rising. The ongoing sales pressure of the overall metal markets and the reduction of positions in the stocks is causing the selling of the gold held in the portfolio for the purpose of protection in advance. It can be considered that speculative gold funds or local funds receive gold when stocks are selling gold. Buying is likely to make money if the hand-shifting gold is very likely to be in the console nowadays and is withdrawn around $ 1312.

Oil can be sold again after rising

While the stock market is being withdrawn and the Dollar's rise causes oil prices to remain under pressure, oil stocks continue to support the drop in oil. At this stage, although there are still conditions for further reduction of the oil, it is possible to make a technical correction today. Although the conditions make it necessary to sell in the petroleum, although the possibility of short-term technical corrections to occur, the rise is expected first. In the event of a subsequent rise, it would be appropriate to carry out open sales tests, for example around $ 62,30.

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