Forex Analysis & Reviews: Trading plan for 15/03/2017
time 15.03.2017 11:11 AM
time Relevance up to, 01.01.1970 03:00 AM

Trading plan for 15/03/2017:

Thursday 15th of March will be a very busy day in financial markets. During the European and American session, global investors will pay attention to Claimant Count Change data from the U.K., Consumer Price and Retail Sales from the U.S. and the most anticipated event - the FOMC Interest Rate Decision, press conference of US Fed Chair and Economic forecasts.

GBP/USD analysis for 15/03/2017:

The Claimant Count Change data are scheduled for release at 10:30 am GMT and market participants expect that the number of people who are claiming unemployment benefit will increase by 3.2k after an impressive drop of -42.4k last month. It does not necessary mean the number of unemployed people jumped unexpectedly, but it might be just a mean reversion.

Let's take a look at the GBP/USD technical picture in the H4 time frame. The support at the level of 1.2108 has held the line and in a case of a better than expected data ( less than 3.2k) this pair might rally even further towards the next resistance at the level of 1.2303. In a case of worse than expected data (more than 3.2k), the market might stay in the range between the levels of 1.2250 - 1.2108 or the bears will try to test the support again.

This image is no longer relevant

EUR/USD analysis for 15/03/2017:

The greatest impact on today's price action and volatility on the EUR/USD pair comes from the FOMC interest rate decision, that is scheduled for release at 06:00 pm GMT. Market participants expect an interest rate hike from the level of 0.78% to 1.00%, but it looks like most of such expectations have been already discounted by the markets. This is why global investors will keep an eye on new FED's economic forecasts and then the press conference. The most important issue on the further FED monetary policy regards the number of rate hikes in 2017. The other equally important issue is the exact timing of further interest rate hikes: how much is it possible for FED to hike again in June 2017? So this will be the plan to trade the FOMC today:

- if FED WILL hike to 1.00% and Janet Yellen delivers a hawkish stance during the press conference and today's economic forecast pushes the outlook for US economic growth this year higher than 2.1%, then U.S. Dollar will advance massively, which means EUR/USD will drop notably (a target is at the level of 1.0493 with a possible extension towards 1.0339).

-if FED will NOT hike to 1.00% and Janet Yellen expresses more dovish rhetoric during the press conference and today's economic projections do not push the outlook for US economic growth this year higher than 2.1%, then U.S. Dollar will decline massively, which means EUR/USD will rally substantially (a target is 1.0713 with a very possible extension towards 1.0828)

This image is no longer relevant

Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

  • Giao dịch khôn ngoan, thành công
    Nạp tiền vào tài khoản của bạn với ít nhất $ 500, đăng ký cuộc thi và có cơ hội giành được các thiết bị di động.
  • Ferrari từ InstaForex
    Nạp tiền vào tài khoản của bạn với ít nhất 1.000
    tham gia cuộc thi và giành chiến thắng Ferrari
    F8 Tributo
  • Tiền gửi lần truy cập
    Gửi vào tài khoản của bạn 3.000 đô la và giành được 1.000 đô la
  • 100% tiền thưởng
    Cơ hội duy nhất của bạn để nhận 100% tiền thưởng khi gửi tiền
  • 55% Tiền thưởng
    Đăng ký tiền thưởng 55% cho mỗi lần gửi tiền của bạn
  • 30% tiền thưởng
    Nhận 30% tiền thưởng mỗi khi bạn nạp tiền vào tài khoản của mình

Recommended Stories

Forecast and trading signals for EUR/USD on December 2. How this insane trading week will end

On Thursday, EUR/USD went upwards again which cannot be explained by anything. The market carried on selling the US dollar. Previously, we tried to puzzle out what response the market

Paolo Greco 15:21 2022-12-02 UTC+2

AUD/USD Technical Analysis and Trading Tips for December 2, 2022

The focus of today's trading day will be on the release (at 13:30 GMT) of the US Department of Labor's November data report. And we see trader activity and market

Jurij Tolin 13:37 2022-12-02 UTC+2

GBP/USD trading plan for North American session on December 2, 2022. Overview of morning trades. GBP may soar again

In my previous analytical review, I drew your attention to the level of 1.2245 and recommended entering the market from it. Let's have a look at the 5-minute chart

Miroslaw Bawulski 13:23 2022-12-02 UTC+2

EUR/USD trading plan for North American session on December 2, 2022. Traders waiting for US jobs report

In my morning review, I mentioned the level of 1.0536 and recommended entering the market from there. Let's see what happened on the 5-minute chart. While rising to 1.0536

Miroslaw Bawulski 13:13 2022-12-02 UTC+2

Trading plan for US dollar index on December 02, 2022

The US dollar index dropped through the 104.02 lows intraday on Friday, hitting our projected target at 104.30 earlier. The index has pulled back since then and is seen

Oscar Ton 10:37 2022-12-02 UTC+2

Trading plan for EURUSD on December 02, 2022

EURUSD climbed through the 1.0540-45 highs intraday on Friday, almost hitting the projected targets as discussed earlier. The single currency pair is seen to be trading close to 1.0540

Oscar Ton 10:05 2022-12-02 UTC+2

Trading tips for EUR/USD

Yesterday's trading plan was all about increasing EUR/USD to continue the bullish momentum that started after Powell's speech. Plan: There was also a buy signal for the M1 TF, which

Andrey Shevchenko 09:38 2022-12-02 UTC+2

EUR/USD and GBP/USD trading plan and analysis for beginners on December 2, 2022

The unemployment rate in the EU unexpectedly dropped in October to 6.5%, according to the data provided by Eurostat. Notably, analysts expected the indicator to stay at September levels

Gven Podolsky 09:15 2022-12-02 UTC+2

GBP/USD: trading plan for European session on December 1, 2022. Commitments of Traders. Overview of yesterday's trading. GBP up by over 200 pips

Yesterday, a few nice entry signals were made. Let's take a look at the M5 chart to get a picture of what happened. In the previous review, we focused

Miroslaw Bawulski 08:07 2022-12-02 UTC+2

EUR/USD: trading plan for European session on December 2. COT reports. EUR perked up yesterday, poised to assert its strength

Yesterday, EUR/USD generated a few signals for market entry. Let's analyze the 5-minuts chart and try to figure out what has actually happened. In the previous article, I turned your

Miroslaw Bawulski 07:45 2022-12-02 UTC+2
Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.