MARKET BRIEFING – LONDON OPEN 14.03.2016

MARKET BRIEFING – LONDON OPEN 14.03.2016

Postby Atlas CapitalFx » Mon Mar 14, 2016 6:58 am

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MARKET BRIEFING – LONDON OPEN 14.03.2016







Stock exchanges in the Asia-Pacific Region on Monday showed a positive trend before this week’s meetings of the Bank of Japan and the Federal Reserve. This supported investors’ optimism caused by the results of the ECB meeting last week, when the bank took a more aggressive approach to support the troubled euro zone economy than initially expected.

This action led markets to hope for a speedy recovery of the euro area and also intensified an increase the demand for risky assets.

Investors’ attention this week is focused on the meetings of the Bank of Japan on Tuesday and the US Federal Reserve’s held on Wednesday. It is anticipated that the Bank of Japan and the Federal Reserve will leave interest rates at the current levels, which are -0.1% and 0.25-0.5% respectively.

For now, the US Dollar remains a centre of attention of market participants this week. Even though the probability of the interest rate hike is next to a zero, traders should not yet discard the possibility for a surprise.

In addition to the standard monetary policy announcement by FOMC, this quarterly event will also present updated economic forecasts and the press conference by the Fed Chairwoman, who is expected to bring more light in the future direction of the US monetary policy.

Last week the US dollar was significantly weakened by the ECB’s policy decision, with the dollar index declining below 96.00 mark. Looking its daily chart, the world’s major reserve currency continues to trade a downtrend scenario, hinting that the uptrend established in the middle of 2014 might be coming to an end.








EURUSD

Image

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.1256

Target 2: 1.1030

Projected range in ATR’s: 0.0113

Daily control level: 1.0820



GBPUSD


Image


The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.4507

Target 2: 1.4241

Projected range in ATR’s: 0.0133

Daily control level: 1.4130




USDJPY

Image


The intraday technical outlook

Trend 1 hour: Up

Target 1: 115.11

Target 2: 112.67

Projected range in ATR’s: 1.216

Daily control level: 112.55





USDCHF

Image

The intraday technical outlook

Trend 1 hour: Down

Target 1: 0.9926

Target 2: 0.9734

Projected range in ATR’s: 0.0096

Daily control level: 1.0090



USDCAD


Image

The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.3367

Target 2: 1.3083

Projected range in ATR’s: 0.0142

Daily control level: 1.3225




AUDUSD


Image

The intraday technical outlook

Trend 1 hour: Up

Target 1: 0.7642

Target 2: 0.7452

Projected range in ATR’s: 0.0095

Daily control level: 0.7400





GOLD

Image

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1274.70

Target 2: 1225.40

Projected range in ATR’s: 24.65

Daily control level: 1237.00


OIL

Image

The intraday technical outlook

Trend 1 hour: Up

Target 1: 41.33

Target 2: 38.07

Projected range in ATR’s: 1.629

Daily control level: 37.00








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Atlas CapitalFx
 
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