#dailyforexevaluation

Daily Forex Evaluation – March 18th, 2021 | Daily Forex Analysis.

In the Daily Forex Evaluation segment, we provide key insights on current market trends in forex pairs, particularly the major currency pairs which are the most traded currency pairs based on technical and fundamental analysis. The most traded currency pairs are EUR/USD – Euro Dollar, USD/JPY – Dollar-Yen, GBP/USD – Pound Dollar, and USD/CHF – Dollar Swiss Franc.

 EUR/USD Evaluation – March 18th, 2021.

The EUR/USD pair is currently trading at a 1.196 price level. This is an important support level. The Federal Open Market Committee recently announced that they will not be increasing interest rates for the next year. This announcement caused a massive U.S. dollar sell-off. As a result, we saw 100 pips positive rally for EUR/USD pair. Look for short-term buying opportunities in EUR/USD.

 USD/JPY Evaluation – March 18th, 2021.

After a big bullish breakout, the USD/JPY is consolidating at a 108.88 price level. this price level is one of the most important resistance zones. USD/JPY is consolidating at this resistance zone for the last seven days. According to the expert’s analysis, the Bank of Japan is expected to increase its long-term interest rates. The USD/JPY pair will be affected by this announcement. we might see a good bearish momentum after this announcement. look for short-term selling opportunities in USD/JPY.

 GBP/USD Evaluation – March 18th, 2021.

GBP/USD is currently trading at a 1.3956 price level. Currently, GBP/USD is trending in a range. The GBP/USD retreated from its peak price level after the US central bank announcement. The Bank of England is expected to leave rates and asset purchase facility unchanged for the next couple of months. look for short-term selling opportunities in GBP/USD.

 USD/CHF Evaluation (Dollar Swiss Franc) – March 18th, 2021.