Sunday , 19 January 2025
Home Forex Kickstart your FX trading for March 15 w/a technical look at the EURUSD, USDJPY and GBPUSD
Forex

Kickstart your FX trading for March 15 w/a technical look at the EURUSD, USDJPY and GBPUSD

Kickstart your FX trading for March 15 w/a technical look at the EURUSD, USDJPY and GBPUSD

The kickstart video above for Friday, March 15 takes a technical look at the EURUSD, USDJPY and GBPUSD and outlines what levels are in play, what is the bias, the risks and the targets? Those levels are meant to pave a roadmap for your trading where you can see where the market is reacting. That view helps to determine levels where the price action is likely to move.

Overall, the USD is lower vs the EUR and GBP today, but higher vs the JPY.

  • The EURUSD fell to a new low for the week but found support buyers at 38.2% of the move up from the February low.
  • The USDJPY initially found resistance just ahead of the 50% of the move down from the Feb high and found sellers. After a run lower, buyers returned and have not taken the price back above the 50% at 148.67. THat is now close support today.
  • The GBPUSD has formed a bottom yesterday and today at 1.2729 to 1.2735. That area is below the 50% of the move up from the March low to the March high at 1.2746, but momentum could not be sustained and the price is now trading above and below the midpoint level. If the buyers can hold support at 50%, that would be the best-case scenario for the dip buyers (which gives them hope). On the topside 1.2771 is a target followed by the 200 hour MA at 1.2778.

This article was written by Greg Michalowski at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

How To Predict Forex Price Movements Accurately

Struggling to predict forex price movements? The foreign exchange market trades over...

A technical view of the major currency pairs going into the new trading week

EURUSD:USDJPY:GBPUSD:USDCHF:USDCAD:AUDUSD:NZDUSD: This article was written by Greg Michalowski at www.forexlive.com.

Greenland, Canada and the Panama Canal: What is the real plan here?

Here is my base case.Greenland:This is a real pet project of Trump's....

Trend Continuation Factor and Hurst Exponent Forex Trading Strategy

The Trend Continuation Factor and Hurst Exponent Forex trading strategy is a...