MARKET BRIEFING – LONDON OPEN 29.03.2016

MARKET BRIEFING – LONDON OPEN 29.03.2016

Postby Atlas CapitalFx » Tue Mar 29, 2016 4:53 am

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MARKET BRIEFING – LONDON OPEN 29.03.2016







The US Dollar is trading higher this morning as traders await a speech by Federal Reserve Chairwoman later this afternoon. As always, Janet Yellen’s presentation will be closely scrutinized by the market participants, who will look for clues regarding the Fed’s future monetary policy.

On the March 16, the FOMC delivered a statement, which gave a dovish message to the markets as it reduced the projected amount of interest rate increases for 2016. This action will likely lead to a lower dollar and expected to boost the US economy.

The shift towards a policy that seeks to devalue the US currency was highlighted by FOMC Chairwoman’s message to the worlds gathered press that US Dollar strength transitory. Although this term was used this was the first time it was applied in regards to the Dollar’s value.

The main goals of the policymakers are the price stability and a healthy US job market. Nevertheless, a weaker US Dollar policy is welcomed by the global markets as this could lead to price stability and less deflation there too. Furthermore, the policy of deliberately weakening the US Dollar could act as a spur for growth both within the USA and across the globe..










EURUSD

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The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.1295

Target 2: 1.1095

Projected range in ATR’s: 0.0102

Daily control level: 1.1140




GBPUSD


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The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.4400

Target 2: 1.4105

Projected range in ATR’s: 0.0150

Daily control level: 1.4105





USDJPY

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The intraday technical outlook

Trend 1 hour: Up

Target 1: 114.45

Target 2: 112.40

Projected range in ATR’s: 1.06

Daily control level: 113.10





USDCHF



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The intraday technical outlook

Trend 1 hour: Down

Target 1: 0.9815

Target 2: 0.9650

Projected range in ATR’s: 0.0082

Daily control level: 0.9790








USDCAD



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The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.3320

Target 2: 1.3050

Projected range in ATR’s: 0.0137

Daily control level: 1.3020







AUDUSD


Image


The intraday technical outlook

Trend 1 hour: Up

Target 1: 0.7630

Target 2: 0.7450

Projected range in ATR’s: 0.0090

Daily control level: 0.7490






GOLD


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The intraday technical outlook

Trend 1 hour: Down

Target 1: 1243.00

Target 2: 1199.00

Projected range in ATR’s: 22.07

Daily control level: 1224.00







OIL



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The intraday technical outlook

Trend 1 hour: Down

Target 1: 40.70

Target 2: 37.90

Projected range in ATR’s: 1.39

Daily control level: 40.15








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Atlas CapitalFx
 
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