The Euro is considering the ECB’s decisions. Overview for 13.03.2020

The Euro is considering the ECB’s decisions. Overview for 13.03.2020

13.03.2020

On Friday, the major currency pair is recovering after the March meeting of the European regulator and its decision to expand QE.

EURUSD is recovering on Friday morning after plunging the day before. The current quote for the instrument is 1.1206.

During its March meeting, the European Central Bank kept its benchmark rate unchanged at 0%, just as expected. The deposit rate and the marginal lending rate also remained intact at -0.50% and 0.25% respectively.

At the same time, the ECB decided to expand the QE program by €120B until the end of 2020. Earlier, the monthly volume of the program that started in November of 2019 was €20B. In addition to that, the regulator announced TLTRO III for refinancing the first LTRO.

Moreover, the ECB will relax the capital rules on banks.

Stimulus measures look quite adequate and suitable for the current market environment, and which is more important – right now, it’s very good timing for them.

Thereby, not it’s the time for the US Federal Reserve to make a call: market players are very interested in whether the American regulator cuts the rate for the second time this month during its March meeting next week.

Forex Technical Analysis & Forecast 13.03.2020

Forex Technical Analysis & Forecast 13.03.2020

13.03.2020

EURUSD, “Euro vs US Dollar”

After reaching the first downside target at 1.1060 without forming any corrections, EURUSD has formed the ascending impulse; right now, it is consolidating around 1.1176. Possibly, the pair may break the range to the upside and continue the correction towards 1.1298.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

After breaking 1.2766, GBPUSD has reached 1.2556; right now, it is consolidating around the latter level. Possibly, today the pair may expand the range down to 1.2455 and then start another correction to return to 1.2766. Later, the market may resume falling with the target at 1.2246.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has finished the first descending wave at 0.9550; right now, it is correcting towards 0.9375. Later, the market may start a new growth with the target at 0.9600.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is growing with the short-term target at 108.60. Today, the pair may break 105.90 to the upside and then reach 107.07. After that, the instrument may form a new descending structure towards 106.00 and then resume trading upwards to reach the above-mentioned target.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

After completing another descending wave at 0.6222, AUDUSD is forming the first impulse to the upside. Possibly, the pair may reach 0.6385 and then fall towards 0.6300, After that, the instrument may resume trading upwards with the target at 0.6500.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has finished another ascending structure to reach 75.45; right now, it is falling towards 72.60. Later, the market may start another growth to reach 74.04 and then form a new descending structure with the short-term target at 70.60.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

After completing the correction at 1.3700, USDCAD has broken the high at 1.3832; right now, it is still growing. Today, the pair may test the broken high from above and then form one more ascending structure with the short-term target at 1.4040.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

After forming a downside continuation pattern around 1638.98 and broken it downwards, Gold has completed the descending wave at 1555.55. Possibly, today the pair may form one more ascending structure to reach 1594.22. In fact, the instrument is expected to start a new rising wave with the target at 1768.50.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent continues falling; right now, it is consolidating below 32.00. According to the main scenario, the price is expected to break the range to the upside and grow to reach 35.60. Later, the market may break this level as well and then continue trading upwards with the first target at 39.44. .

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

Earlier, BTCUSD broke 7300.00 and fell towards 5900.00. Today, after forming the consolidation range around this level and expanding it down to 3900.00, the price has finished the ascending impulse towards 5600.00 along with the correction at 4800.00. The main scenario implies that the instrument may form the second ascending impulse to reach 6600.00 and then start a new correction towards 5700.00. After that, the pair may resume trading upwards with the first target at 7600.00.

BTCUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Fibonacci Retracements Analysis 13.03.2020 (BITCOIN, ETHEREUM)

Fibonacci Retracements Analysis 13.03.2020 (BITCOIN, ETHEREUM)

13.03.2020

BTCUSD, “Bitcoin vs US Dollar”

As we can see in the daily chart, Bitcoin is totally dominated by bears; the pair has completed such a strong descending impulse that it has reached all important downside targets along with the post-correctional extension area between 138.2% and 161.8% fibo at 4890.00 and 3925.00 respectively. At the moment, the instrument may start a pullback, but the next downside target may be the long-term fractal low at 3121.90.

BTCUSD_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H4 chart, the pair is correcting after reaching the post-correctional extension area between 138.2% and 161.8% fibo at 4890.00 and 3925.00 respectively. The price is growing towards 23.6% fibo at 5171.00 and may later reach 38.2% and 50.0% fibo at 5945.00 and 6568.00 respectively.

BTCUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

ETHUSD, “Ethereum vs. US Dollar”

As we can see in the daily chart, the descending wave has tested the psychologically important support at 100.00. In the nearest future, ETHUSD may correct. However, after the correction, the pair may continue falling towards the long-term low at 80.86, as well as the post-correctional extension area between 138.2% and 161.8% fibo at 50.30 and 9.80 respectively.

ETHUSD_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H4 chart, the pair is correcting after reaching 89.98. The price is getting close to 23.6% fibo at 128.00 and may later reach 38.2% and 50.0% fibo at 152.17 and 170.82.

ETHUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

rfxsignals March 13, 2020 No Comments

DAILY FREE FOREX SIGNALS – 13-03-2020 | Форекс – Сообщество Трейдеров |إشارات الفوركس|외환 신호

DAILY FREE FOREX SIGNALS – 13-03-2020 | Форекс – Сообщество Трейдеров |إشارات الفوركس|외환 신호

 

USDJPY BUY -106.059
SL-104.984
TP1-106.469
TP2-106.836

GBPUSD BUY -1.26158
SL-1.25134
TP1-1.26675
TP2-1.27286

USDCHF BUY -0.94610
SL-0.94030
TP1-0.94878
TP2-0.95145

EURUSD SELL-1.11754
SL-1.12484
TP1-1.11492
TP2-1.11200

USDCAD SELL-1.38275
SL-1.38972
TP1-1.38021
TP2-1.37789

GBPCHF BUY -1.19096
SL-1.18275
TP1-1.19434
TP2-1.19755

EURCAD SELL-1.54720
SL-1.55601
TP1-1.54443
TP2-1.54136

EURNZD SELL-1.81272
SL-1.82545
TP1-1.80893
TP2-1.80538

EURGBP SELL-0.88603
SL-0.89082
TP1-0.88438
TP2-0.88253

Japanese Candlesticks Analysis 12.03.2020 (USDCAD, AUDUSD, USDCHF)

Japanese Candlesticks Analysis 12.03.2020 (USDCAD, AUDUSD, USDCHF)

12.03.2020

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after finishing a Hanging Man pattern near the resistance level, USDCAD continues growing and updating its highs. Right now, the pair may start reversing; the downside target is at 1.3590. The current situation implies that after completing a pullback the price may resume growing towards 1.3830. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may continue growing without forming a correction towards 1.3590.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, the pair continues the descending tendency. After completing a Shooting Star reversal pattern near the channel’s upside border, AUDUSD is still reversing. Later, the price may complete a correction and resume trading downwards to reach the channel’s downside border at 0.6410. Still, the instrument may choose a different scenario and continue falling without any corrections. A rebound from the current level is a less probable scenario, but it may happen. In this case, the target will be at 0.6570.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the descending tendency continues. By now, USDCHF has reversed after forming a Hammer reversal pattern and formed several more reversal patterns near the resistance level, including Doji. The current situation suggests that the pair may reverse and then continue the descending tendency with the target at 0.9150. However, one shouldn’t ignore another scenario, according to which the instrument may return to 0.9530.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Ichimoku Cloud Analysis 12.03.2020 (AUDUSD, XAGUSD, USDCAD)

Ichimoku Cloud Analysis 12.03.2020 (AUDUSD, XAGUSD, USDCAD)

12.03.2020

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6459; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the resistance area at 0.6490 and then resume moving downwards to reach 0.6305. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6555. In this case, the pair may continue growing towards 0.6645.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAGUSD, “Silver vs US Dollar”

XAGUSD is trading at 16.61; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 16.95 and then resume moving downwards to reach 15.75. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 17.45. In this case, the pair may continue growing towards 18.25.

SILVER
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3786; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3760 and then resume moving upwards to reach 1.3965. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.3615. In this case, the pair may continue falling towards 1.3535.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Forex Technical Analysis & Forecast 12.03.2020

Forex Technical Analysis & Forecast 12.03.2020

12.03.2020

EURUSD, “Euro vs US Dollar”

EURUSD continues forming the second descending impulse. Possibly, today the pair may form one more ascending structure towards 1.1355 and then start a new decline with the short-term target at 1.1233. After that, the instrument may correct to reach 1.1356 and then form the third descending impulse towards 1.1220.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

After failing to form a new ascending impulse from 1.2881, GBPUSD has broken this level to the downside. Possibly, the pair may reach 1.2794 and then return to 1.2881 to test it from below. Later, the market may resume falling with the target at 1.2683.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.9356. The main scenario implies that the pair may fall towards 0.9301 and finish the correction. Later, the market may start a new growth with the first target at 0.9430.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished the correctional wave at 103.18. Today, the pair may move upwards to break 104.47 and then continue growing with the target at 105.89.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

After breaking 0.6484 downwards, AUDUSD is still falling. Possibly, the pair may reach 0.6429 and then return to 0.6484 to test it from below. Later, the market may resume trading downwards with the target at 0.6292.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 72.04. Possibly, today the pair may expand the range up to 73.80 and then form a new descending structure with the short-term target at 68.68.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD has expanded the consolidation range up to 1.3819; right now, it is trading at the top of the ascending wave. Today, the pair may form a new descending structure to reach 1.3690. If later the price breaks this range to the upside at 1.3855, the market may resume trading inside the uptrend to reach 1.3950; if to the downside at 1.3600 – start a new correction with the target at 1.3300.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has reached the predicted downside target at 1639.71. Possibly, today the pair may consolidate near the lows and form a new descending structure to reach 1626.57. After that, the instrument may start another growth with the target at 1650.20.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

By finishing the ascending impulse towards 39.10 and completing the correction at 32.90, Brent has formed a new consolidation range near the lows. Today, the pair may form the second ascending impulse with the first target at 37.25. Later, the market may break this level and then continue growing towards 41.50. After that, the instrument may correct to return to 37.25. However, if the price falls and breaks 32.80, it may continue its decline to reach 31.00.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is consolidating around 7785.00. The main scenario implies that the instrument may reach 7300.00 and then resume trading upwards to reach the upside border at 8300.00.

BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Murrey Math Lines 12.03.2020 (USDCHF, GOLD)

Murrey Math Lines 12.03.2020 (USDCHF, GOLD)

12.03.2020

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading between 0/8 and 1/8. In this case, the price is expected to break 1/8 and then continue growing towards the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 0/8 to the downside. After that, the instrument may continue falling to reach the support at -2/8.

USDCHF_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the VoltyChannel indicator confirms only the second scenario, which implies a further decline towards -2/8. Under these circumstances, we should follow the H4 chart and wait until the price breaks 1/8.

USDCHF_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

In the H4 chart, XAUUSD is consolidating. In this case, the price is expected to continue falling to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue growing towards the resistance at 8/8.

GOLD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency towards 3/8 from the H4 chart.

GOLD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Fibonacci Retracements Analysis 12.03.2020 (AUDUSD, USDCAD)

Fibonacci Retracements Analysis 12.03.2020 (AUDUSD, USDCAD)

12.03.2020

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after AUDUSD had finished a quick descending impulse and reached 0.6300, there was a convergence that made the pair start a speedy correctional uptrend, which has already reached 38.2% fibo. The current decline may be considered as a pullback, which may be followed by further mid-term growth towards 50.0% and 61.8% fibo at 0.6797 and 0.6914 respectively.

AUDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows that AUDUSD is falling after finishing the rising impulse; right now, it is testing 61.8% fibo and may later reach 76.0% fibo at 0.6392. After that, the instrument may start a new growth towards 0.6684.

AUDUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, due to a gap, a quick rising impulse has broken the long-term high but failed to eliminate the gap. At the moment, USDCAD is heading towards the post-correctional extension area between 138.2% and 161.8% fibo at 1.3935 and 1.4100 respectively. However, the instrument may yet fall towards 1.3392 to close the gap.

USDCAD_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

НIn the H1 chart, the divergence made the pair finish the rising tendency, thus indicating a possible pullback. In this case, the price may fall towards 23.6%, 38.2%, 50.0%, and 61.8% fibo at 1.3674, 1.3584, 1.3511, and 1.3438 respectively. the resistance is the high at 1.3820.

USDCAD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURUSD is starting to grow. Overview for 12.03.2020

EURUSD is starting to grow. Overview for 12.03.2020

12.03.2020

After falling for a couple of days, the major currency pair is back to rising.

EURUSD is “in the black” on Thursday morning. The current quote for the instrument is 1.1295.

The World Health Organization on Wednesday declared the rapidly spreading coronavirus outbreak a pandemic. This information sparked more panic, made oil prices fall again, and once again caused a mass exodus of investors from risky assets. Starting March 13th, the USA is going to close its borders for European countries in order to prevent further virus transmission. Airlines all over the world are reducing the number of flights.

Given the circumstances, it is very interesting what decisions the European Central Bank will make during its March meeting. At the moment, its benchmark rate is zero, while the deposit rate is -0.4%. The QE program is active and there are options to extend it in order to support the Euro Area’s economy. The regulator may announce some selective stimulus, for example for Italy, the future financial outlook of which seems pretty gloomy.

So far, market players aren’t very nervous and don’t’ play against the Euro, at least for now.

In the evening, the USA is scheduled to report on the PPI, which may lose 0.1% m/m in February after adding 0.5% m/m in the previous month. The Core PPI, in its turn, may add 0.1% m/m after expanding by 0.5% m/m in January.