top of page
Black Modern Cryptocurrency Presentation (1).jpg

NEWS & ANALYSIS POSTS

Search
Mar 17 min read

Daily Forex Signals & Market Insights: March 1 - Intraday Focus

Notable Economic Events: Core CPI Flash Estimate, ISM Manufacturing PMI, and FOMC Member Waller's speech could cause significant price movements.


DXY Dollar Index, A financial chart depicting the with technical indicators including candlesticks, Bollinger Bands, Ichimoku Cloud, and volume bars. The chart also features an RSI indicator below, signalling recent market volatility.
🟢 Dollar Index


Forex Trade Signals

EUR/USD  GBP/USD  USD/JPY  USD/CHF  NZD/USD  AUD/USD USD/CAD  EUR/GBP  


EUR/USD A trading chart displaying the asset with two main indicators. The top panel shows Bollinger Bands overlaid on candlestick price action with a 20-day Simple Moving Average (SMA). Below, two sub-panels present the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), respectively. The RSI is within the neutral range, neither overbought nor oversold. The MACD shows the signal line and the MACD line close together, indicating no strong momentum in either direction. The lower section of the image features a separate price action chart without indicators for comparison.
🟢 EUR/USD

Trading Signal for EUR/USD

  • Trade Direction: Sell

  • Entry Point: 1.0835 (near the daily pivot and current market price)

  • Take Profit: TP1: 1.0796 (just above today's low), TP2: 1.0775 (additional support level)

  • Stop Loss: 1.0857 (today's high)

  • Confidence Level: Moderate, considering the convergence of technical indicators suggesting a potential downward movement.

Technical Analysis

  • Trend Analysis: The EUR/USD shows a ranging market with a slight bearish bias.

  • Key Levels:

  • Resistance: 1.0857 (yesterday's high)

  • Support: 1.0796 (yesterday's low)

Technical Indicators

  • Bollinger Bands: Price is mid-range, no clear signal.

  • Ichimoku Cloud: Price is below the cloud, indicating a bearish sentiment.

  • ATR: 0.00205, indicating low volatility.

  • MACD: Bearish crossover, as the MACD line is below the signal line.

  • RSI: At 47.37, which is neutral.

Market Sentiment

  • General Sentiment: With the economic calendar events, volatility may increase.

  • Impact on Specific Asset: The EUR/USD could react sharply to the actual figures released compared to the forecast.

  • Notable Economic Events: Core CPI Flash Estimate, ISM Manufacturing PMI, and FOMC Member Waller's speech could cause significant price movements.



Trading Signal for GBP/USD

  • Trade Direction: Sell

  • Entry Point: 1.2639 (at the pivot level)

  • Take Profit: TP1: 1.2612 (just above today's low), TP2: 1.2580 (further support level)

  • Stop Loss: 1.2683 (above today's high)

  • Confidence Level: Moderate, as technical indicators suggest a bearish bias and upcoming economic events could introduce volatility.

Technical Analysis

  • Trend Analysis: The GBP/USD is trading within a range with a slight bearish bias.

  • Key Levels:

  • Resistance: 1.2683 (yesterday's high)

  • Support: 1.2612 (yesterday's low)

Technical Indicators

  • Bollinger Bands: Price is fluctuating around the middle band, indicating a consolidation phase.

  • Ichimoku Cloud: Price is near the cloud, suggesting uncertainty.

  • ATR: 0.00252, indicating moderate volatility.

  • MACD: Bearish, as the MACD line is below the signal line.

  • RSI: At 43.32, near the lower bound of the neutral zone, leaning towards oversold conditions.

Market Sentiment

  • General Sentiment: Cautious due to high-impact economic releases.

  • Impact on Specific Asset: The GBP/USD pair may be significantly influenced by the actual figures compared to the forecast, especially the ISM Manufacturing PMI and FOMC Member Waller's speech.

  • Notable Economic Events: Core CPI Flash Estimate and ISM Manufacturing PMI could impact market sentiment and cause price fluctuations.



Trading Signal for USD/JPY

  • Trade Direction: Sell

  • Entry Point: Sell around current levels 150.31

  • Take Profit: TP1: 149.96 (Pivot point), TP2: 149.21 (Yesterday's Low)

  • Stop Loss: 150.70 (Just above yesterday's high)

  • Confidence Level: Moderate, considering the technical indicators and economic news impact.

Technical Analysis

  • Trend Analysis: The short-term trend appears to be downward as indicated by the price moving towards the lower Bollinger Band.

  • Key Levels:

  • Resistance: Yesterday's high at 150.70.

  • Support: Daily pivot at 149.96 and yesterday's low at 149.21.

Technical Indicators

  • Bollinger Bands: Price is moving towards the lower band, indicating potential for a continued downward movement.

  • Ichimoku Cloud: The price is currently below the cloud, suggesting bearish sentiment.

  • ATR: 0.310, indicating moderate market volatility.

  • MACD: Bearish crossover with the MACD below the signal line.

  • RSI: At 50.25, near the mid-level, suggesting a potential for either direction, but leaning towards a bearish momentum given the price action.

Market Sentiment

  • General Sentiment: The sentiment appears mixed, with cautiousness ahead of key economic releases.

  • Impact on Specific Asset: The USD/JPY pair may experience increased volatility around the times of the economic news releases. The data points to watch are the ISM Manufacturing PMI and FOMC Member Waller's speech.

  • Notable Economic Events: The upcoming economic events such as the Core CPI Flash Estimate y/y for the Eurozone, and several key US economic indicators including the ISM Manufacturing PMI and FOMC Member Waller's speech could impact the currency pair.



Trading Signal for USD/CHF

  • Trade Direction: Buy

  • Entry Point: Buy around current levels 0.88409

  • Take Profit: TP1: 0.8878 (Yesterday's close), TP2: 0.88949 (Yesterday's high)

  • Stop Loss: 0.8778 (Just below yesterday's low)

  • Confidence Level: Moderate, considering the technical indicators and the impact of upcoming economic news.

Technical Analysis

  • Trend Analysis: The short-term trend appears to be upward as indicated by the price action above the Ichimoku cloud.

  • Key Levels:

  • Resistance: Yesterday's high at 0.88949.

  • Support: Daily pivot at 0.8824 and yesterday's low at 0.8778.

Technical Indicators

  • Bollinger Bands: Price is between the middle and upper band, suggesting room for upward movement.

  • Ichimoku Cloud: Price is above the cloud, indicating a bullish trend.

  • ATR: 0.00187, indicating low market volatility.

  • MACD: The MACD is above the signal line, suggesting bullish momentum.

  • RSI: At 64.73, indicating a strong momentum but be cautious of potential overbought conditions.

Market Sentiment

  • General Sentiment: Mixed, with caution ahead of economic releases that could affect market volatility.

  • Impact on Specific Asset: USD/CHF might experience some volatility around the time of the ISM Manufacturing PMI and FOMC Member Waller's speech.

  • Notable Economic Events: The CPI Flash Estimate y/y for the Eurozone and the US economic indicators including the ISM Manufacturing PMI can impact the currency pair.


Trading Signal for NZD/USD

  • Trade Direction: Sell

  • Entry Point: Sell around current levels 0.60967

  • Take Profit: TP1: 0.6092 (Pivot point), TP2: 0.6076 (Yesterday's low)

  • Stop Loss: 0.6113 (Just above yesterday's high)

  • Confidence Level: Moderate, given the technical indicators and economic news impact.

Technical Analysis

  • Trend Analysis: The short-term trend appears to be bearish as the price is below the Ichimoku cloud.

  • Key Levels:

  • Resistance: Yesterday's high at 0.6113.

  • Support: Daily pivot at 0.6092 and yesterday's low at 0.6076.

Technical Indicators

  • Bollinger Bands: Price is moving towards the lower band, suggesting a continuation of the downward trend.

  • Ichimoku Cloud: Price is below the cloud, indicating bearish sentiment.

  • ATR: 0.00174, indicating low market volatility.

  • MACD: Bearish crossover, with the MACD below the signal line.

  • RSI: At 37.93, nearing oversold territory, which may signal a potential for reversal; however, in the current context, it supports the bearish outlook.

Market Sentiment

  • General Sentiment: Bearish, influenced by the current technical indicators.

  • Impact on Specific Asset: NZD/USD could see increased volatility around the times of the key US economic data releases.

  • Notable Economic Events: The CPI Flash Estimate y/y for the Eurozone and the US ISM Manufacturing PMI, along with FOMC Member Waller's speech, could impact the currency pair.



Trading Signal for AUD/USD

  • Trade Direction: Sell

  • Entry Point: Sell around current levels 0.65130

  • Take Profit: TP1: 0.6504 (Pivot point), TP2: 0.6487 (Yesterday's low)

  • Stop Loss: 0.6532 (Just above yesterday's high)

  • Confidence Level: Moderate, based on the technical indicators and market sentiment.

Technical Analysis

  • Trend Analysis: The short-term trend is bearish with price action below the Ichimoku cloud.

  • Key Levels:

  • Resistance: Yesterday's high at 0.6532.

  • Support: Daily pivot at 0.6504 and yesterday's low at 0.6487.

Technical Indicators

  • Bollinger Bands: The price is near the lower band, indicating a potential continuation of the downtrend.

  • Ichimoku Cloud: The price is below the cloud, signaling bearish momentum.

  • ATR: 0.00181, suggesting low market volatility.

  • MACD: Bearish crossover as the MACD line is below the signal line.

  • RSI: At 46.81, it is near the midpoint but leaning towards bearish conditions.

Market Sentiment

  • General Sentiment: Bearish based on the technical setup.

  • Impact on Specific Asset: The AUD/USD pair might be influenced by the release of US economic data.

  • Notable Economic Events: Key economic releases such as the US ISM Manufacturing PMI and FOMC Member Waller's speech, as well as the CPI Flash Estimate for the Eurozone, could impact the pair's movement.


Trading Signal for USD/CAD

  • Trade Direction: Buy

  • Entry Point: Current Market Price (around 1.35644)

  • Take Profit: TP1: 1.3599 (Yesterday's high), TP2: 1.3620 (If momentum continues), TP3: 1.3650 (Further resistance level)

  • Stop Loss: 1.3540 (Just below yesterday's low)

  • Confidence Level: Moderate, due to the current market indicators and economic events.

Technical Analysis

  • Trend Analysis: The short-term trend appears to be neutral with a slight bullish bias. The price is moving above the Ichimoku Cloud, suggesting bullishness in the longer term.

  • Key Levels:

  • Resistance: Yesterday's high at 1.3599

  • Support: Yesterday's low at 1.3541, Daily pivot at 1.3571

Technical Indicators

  • Bollinger Bands: The price is near the middle band, indicating a neutral market but with a potential to move towards the upper band if bullish momentum increases.

  • Ichimoku Cloud: Price above the cloud indicates a bullish trend in the longer term.

  • ATR: 0.00222, showing moderate market volatility.

  • MACD: The MACD line is above the signal line, indicating bullish momentum, although convergence suggests caution.

  • RSI: At 62.68, it is neither overbought nor oversold, leaving room for potential upside movement.

Market Sentiment

  • General Sentiment: Neutral to slightly bullish due to the positioning above the Ichimoku Cloud and upcoming economic events.

  • Impact on Specific Asset: The USD/CAD pair may be influenced by the ISM Manufacturing PMI and FOMC Member Waller's speech, which can trigger volatility.

  • Notable Economic Events:

  • Core CPI Flash Estimate y/y

  • ISM Manufacturing PMI

  • Revised UoM Consumer Sentiment

  • ISM Manufacturing Prices

  • FOMC Member Waller Speaks



Trading Signal for EUR/GBP

  • Trade Direction: Sell

  • Entry Point: Current Market Price (around 0.85619)

  • Take Profit: TP1: 0.8550 (Yesterday's low), TP2: 0.8530 (Extended support level)

  • Stop Loss: 0.8572 (Just above yesterday's high)

  • Confidence Level: Moderate, due to the price action being below the Ichimoku Cloud indicating a bearish sentiment and the current market indicators.

Technical Analysis

  • Trend Analysis: The short-term trend is neutral to bearish as indicated by the Bollinger Bands. Long-term trend is bearish with the price being below the Ichimoku Cloud.

  • Key Levels:

  • Resistance: Yesterday's high at 0.8571

  • Support: Yesterday's low at 0.8550, Daily pivot at 0.8559

Technical Indicators

  • Bollinger Bands: The price is near the middle band suggesting a lack of strong trend, but the overall bias could be bearish considering the price is below the Ichimoku Cloud.

  • Ichimoku Cloud: Price below the cloud indicates a bearish sentiment in the longer term.

  • ATR: 0.00101, which points to low volatility.

  • MACD: The MACD line is close to the signal line, indicating a lack of strong momentum but the histogram is in the negative zone, suggesting bearish momentum.

  • RSI: At approximately 54, which is neutral territory.

Market Sentiment

  • General Sentiment: Neutral to bearish, with a stronger lean towards bearish due to the price below the Ichimoku Cloud.

  • Impact on Specific Asset: Given that both currencies are European, the pair could be sensitive to the CPI Flash Estimates. The impact of US data may be less direct, but significant deviations from expectations can still cause volatility.

  • Notable Economic Events:

  • Core CPI Flash Estimate y/y

  • ISM Manufacturing PMI

  • Revised UoM Consumer Sentiment

  • ISM Manufacturing Prices

  • FOMC Member Waller Speaks

 

Disclaimer: These Forex Trade Signals are based on the current charts and market conditions. Always conduct your own analysis and consider risk management strategies before entering any trade. Markets are dynamic, and conditions can change rapidly.


As with all investments, your capital is at risk. Investments can fall and rise and you may get back less than you invested.


An advertisement graphic for Vantage, a trading platform, offering a 50% deposit bonus to supersize trades. The visual features an isometric design with an oversized, three-dimensional arrow pointing upwards, indicating growth or increase. There are stacks of coins on the arrow, and a miniature office setup with a computer displaying charts, suggesting trading activity. A "claim now" button is included, highlighting the promotional offer. Trading risks and terms and conditions are noted at the bottom, alongside the VFSC registration number.


The information provided does not constitute, in any way, a solicitation or inducement to buy or sell securities and similar products.


Forex signals, comments and analysis created and reflect the views forex368.com at any given time and are subject to change at any time. ©2024 by forex368.com.


 Without Knowledge, Prepare for Failure!


bottom of page