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Tuesday's Technical Analysis on EUR/USD,GBP/USD,USD/JPY

ByFX77
Published 03/15/2016, 02:14 AM
Updated 03/09/2019, 08:30 AM

About this week's Fed Interest Rate Decision at 6pm, Mar 16th (GMT), so far some economists and analysts agrees that the Feb officials tend to be optimistic about the U.S. economy and the employment market and they will not make any promise for rate policies. The related statements will perhaps still be “wait-and-see”. But if there are any certain statements for interest rate increase such as “ we will raise interest rate or we will increase rate for several times or we may increase rate in June”, the impact will rush into the forex market at once. As to the real direction, we cannot decide or predict so far.
EUR/USD

A bullish trend remains well so far but seen from the Chart H1 above, it is still in a correction. So put options can be purchased in the morning session (HKT) and call options buyers involve when it reaches the key support.
Support: 1.1057/1.1000 Resistance: 1.1158/1.1170
GBP/USD


Seen from the Chart H4, now it is in a correction so we are mainly put option buyers in the daytime session (HKT).
Support: 1.4250/1.4206 Resistance: 1.4350/1.4415
USD/JPY


As a bullish trend remains stable and it is likely to go higher, we are call option buyers during the daytime session (HKT).
Support: 113.46/113.00 Resistance: 114.18/114.40
[Tips]
All the information mentioned above is for reference only. FX77 Option team will keep an eye on the market and set the trading strategies specifically. If you are looking for more real-time signal-providing services and investment instructions, please follow us.

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