Forex Market analysis by Jim @ Wetalktrade

JimTatus

Junior member
14 0
Hi Friends,

After a long struggle, US dollar gain its strength after positive news releases. US dollar index declines after French presidential election. After Ten days US dollar index reaches new level of 99.27. It reflects in the Forex Market also.

EUR/USD reaches the height of 1.09500 after the election. FOMC statement showed unemployment rate declines even in the economic crisis. It helped US dollar to rise further today. We can expect further increase in the value of US dollar and it gives effect in the Forex Market. USD/JPY and USD/CAD steadily increases on recent days.

After Feb 2016, USD/CAD reaches its new height of 1.37569. We can expect resistance near 1.3857 and if it further goes it will reach 1.4015.

In USD/JPY, we can expect it will move towards 115.00 and more. There is a Fib retracement level of 61.8% on daily chart of USD/JPY pair.
 
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