FOREX Market Trend with Forecast for Today

Activity in the foreign exchange market has fallen markedly. All European currency traded almost unchanged, while the Australian and New Zealand dollar fell, especially the Australian currency amid a lack of clear signals of rising interest rates and the probability of a "hard landing" of the Chinese economy, which is quite involved trade of Australia and New Zealand. Today, the market will scrutinize the publication of the last minutes of the Fed, which tries to find the signals related to the timing of prospects start raising rates. The U.S. stock market is already quite vigorously responds to these likely changes in the attitudes of the Fed, especially in light of recent data on consumer price inflation, which showed that inflationary pressure is gradually increasing, which of course can also have an impact on the Fed. Major stock indexes rebounded from their maximum values​​. We can assume that today the latest data on inflation and also comment on the Fed chairman J. Yellen, and any hint of it some time start tightening monetary policy will lead to higher volatility. If she says today that, despite recent strong data from the labor market and inflation rates will be for some time to be boundless at low levels, it will have a local pressure on the U.S. dollar. At the same time the words that terms of rate hikes will be shifted to the beginning of the next in 2015, on the contrary, will support the dollar. Today, market participants will also closely monitor the data from the UK and the eurozone. Strong statistics on retail sales in the UK, as well as optimistic about the prospects for a rate hike Minutes of the last meeting of the Bank of England, support sterling. At the same time, weak data from the euro zone will have a local downward pressure on the euro.

Forecast Today: EURUSD before the publication of the minutes of the meeting of the FED is likely to consolidate between 1.3685-1.3730. AUDUSD pair remains under pressure because of lowering expectations increase in long term interest rates and a hard landing of the Chinese economy. The pair broke the support level 0.9250 and can now continue its decline to 0.9180, bottom of the short-term downtrend, if it does not rise above the level of 0.9250.

EUR/USD Weekly Review with Trading Suggestion

The euro exchange rate in the foreign exchange market on March 28, is continuing to decline, which is signaled by the indicator Heiken Ashi bars staining blue. Senior channel is directed upward, indicating that the upward direction of the global trend. Junior channel is also directed upwards, which means upward direction and in a less long term. At the moment the price is below the moving average and below the Murray "1/8". Therefore the aim of the downward movement is now level Murray "0/8" - 1.3672, but shorts are now considered still not recommended. If price overcomes the first target, the new target will be the level of Murray "-1/8" - 1.3550. The moving average is directed downward , and the price is in turn below it, so now more relevant downward movement. Heiken Ashi colored bars in the last blue color, which tells us about the local downward movement, but now in any position indicator to consider short positions is not recommended. Short positions can be considered only after turning down any linear regression channel. Buy orders will be relevant only after fixing prices above the moving average. The CCI indicator is about the level of -100, which indicates the presence of a weak currency pair oversold.

In our EUR/USD technical report the next support levels is near at 1.3672, 1.3550 and 1.3428 while nearest resistance levels are 1.3794, 1.3916 and 1.4038.

Trading Suggestion: After analyzing the EUR/USD currency pair, we conclude that is now recommended not to consider any position. To be able to consider longs requires fixing prices above the moving average. To be able to open short positions should wait for a turn down any linear regression channel.

Today's FOREX Chart: EUR/USD Trend Daily

EUR/USD Daily

EUR/USD Trend Today

EUR/USD continues the bullish trend after taking support of the trend line. Continuation pattern “Flag” is observed which indicates EUR/USD to continue the uptrend. Next resistance to look for is 1.3880 with support at 1.3506

FOREX Signals For Today: EUR/USD, GBP/USD Trend

FOREX Market Trend Today:

For the EUR / USD continued upward movement forward after the break 1.3700. The pair USD / CHF down movement forward after the break 0.8928 . For the GBP / USD January 24, formed the potential for downward movement. The pair dollar/yen watching the falling structure formation from January 23. For the euro / yen reversed the upward price structure and here we are watching the small local downward cycle of 23 January . For the pound / yen continued downward movement forward after the breakdown of 167.42.

FOREX Signal For EUR/USD:

For the euro/dollar important levels are 1.3756, 1.3699, 1.3629 and 1.3589. Here goals remain unchanged and we will continue to monitor the development of the rising structure from January 20. Continue upward movement forward after the break 1.3699, in this case the target- 1.3717 in the corridor 1.3717-1.3731 price consolidation. Potential value for the top level of 1.3756 believe, going to expect that after the breakdown of 1.3731.

Short-term downward movement is possible in the corridor 1.3661-1.3648, break of the latter will lead to a deeper movement, the goal here- 1.3629, from this level a key reversal up his pass price will favor the downward movement, in this case the target- 1.3589.

GBP/USD Signal:

For the GBP/USD key levels are 1.6658, 1.6519, 1.6335 and 1.6279. Here January 24, formed the potential for downward movement. Short-term downward movement forward in the corridor 1.6472-1.6434, break of the latter must be accompanied by a pronounced downward movement, the goal here  1.6364 , 1.6364 in the hallway- 1.6335 price consolidation. Potential value for the low level of 1.6279 believe at which pullback up. Short-term upward movement is possible in the corridor 1.6519-1.6543, break of the latter will lead to a deeper correction, the goal here- 1.6593, from this level a key reversal bottom, its passage costs will favor the rising structure, in this case the first target- 1.6658.

Technical Trend for EUR/USD and GBP/USD Today

• EUR/USD Trend.

The bias is bearish in the short term to test the 1.3550 area. Immediate resistance is seen at around 1.3675, break up of the area to bring the price of the neutral zone that leads in the short term to test the 1.3720 area. The main scenario for the trend should be valid, but a break below the bullish channel could be a signal the beginning of a correction scenario be bearish.

• GBP/USD Trend.

The bias is bearish in the short term to test the key support at 1.6340 area. Immediate resistance is seen at around 1.6450 area, break up of the area to bring the price of the neutral zone that leads in the short term to test the 1.6490 area or higher. The main outlook for the bullish should be valid however break down 1.6340 area could be a signal for the beginning of a bearish reversal scenario.