Forex Chart Review and Forecast
On, March 15th, 2018, in our Forex Signal and Forecast report, we thought that the initial jobless claims report would create enough volatility for EURUSD to break below 1.2280 level. However, it didn’t do that until the following day, but it did do it as we had forecasted; EURUSD is still hanging around the 1.2280 area and will struggle to get through 1.2282 and 1.22471 area but we still believe it will head below those areas this week, in an effort to get closer to the gap area and work on closing it out.

When we look at DXY, we can see it is back at the famous 90.35 area. This is an area we have talked about many times in our Forex forecast report, it is an area that DXY always struggle with (so note that in your books); we believe it will push through this area and head for 90.80 area in the next 2 days, also in an effort of working towards closing out the gap. We want to make all of our readers observant to the fact that this week is when Fed’s interest decision is going to be decided on; it is expected that they will increase it to 1.75%. A rise in the short-term interest rate will be positive for DYX, however, keep your SL tight because there will be a stop hunt so that MM books can build up a volume and take a bigger liquidity pool which will be visible if you look left on the chart. Additionally, expect positioning to be part of the game up until Wednesday when the decision is published, this would mean look left and look at peaks and valleys to identify liquidity pools.

Forex News Review
In today’s Forex Forecast and Signals, we start by reviewing our Forex economic calendar HERE,  not many high impact reports today but we are following the following reports today.

FOMC Member Bostic speech (USA)
Raphael W. Bostic is an American economist and academic, who became the 15th President and CEO of the Federal Reserve Bank of Atlanta on June 5, 2017. In 2018
6-Month Bill Auction (USA)
Displayed in the calendar is the average yield on the bills auctioned by US Department of Treasury. Treasury bills are short-term securities maturing in one year or less.
ECB’s Mersch speech (EUR)
Yves Mersch is a Luxembourgian jurist and lawyer who served as Governor of the Central Bank of Luxembourg from the bank’s formation in 1998 until 2012
G20 Meeting (EUR)
The G20 meeting is a gathering of finance ministers and central bank governors from systematically important industrialized and emerging economies to discuss key issues in the global economy.

Review our charts and follow them accordingly.

Play it careful and enjoy. 





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