Weekly Technical Analysis & Price Market Strategy- Capital Street FX
WEEKLY SNAPSHOT
Trade Balance (Jan), U.K.
WHEN: WHAT IT HAD INFLUENCED:
20 MARCH 2023 GBP and its subsequent pairs
WHAT HAPPENED: The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported (a trade surplus). A negative number indicates that fewer goods and services were exported than imported (a trade deficit)
EURGBP is currently in a downward channel. The further downside can be seen in the coming week.
Fed Interest Rate Decision, U.S.
WHEN: WHAT IT HAD INFLUENCED:
22 MARCH 2023 USD and its subsequent pairs
WHAT HAPPENED: Federal Open Market Committee (FOMC) members vote on where to set the target interest rate. Traders watch interest rate changes closely as relatively short-term interest rates are a primary factor in currency valuation.
USDZAR is currently in the upward channel. Further upside can be seen in the coming week.
RBA Meeting Minutes, AUD
WHEN: WHAT IT HAD INFLUENCED:
21 MARCH 2023 AUD and its subsequent pairs
WHAT HAPPENED: The Reserve Bank of Australia (RBA) Monetary Policy Meeting Minutes are a detailed record of the bank’s most recent policy-setting meeting, containing in-depth insights into the economic conditions that influenced the rate decision.
AUDUSD is trading in a downward channel. The further downside can be seen in the coming week.
TOP COMMODITIES IN THE COMING WEEK
GOLD
GOLD is trading in up channel; an upside will be seen in the coming days.
Comments
Post a Comment