TriumphFX – Forex Analysis – EUR Pairs – January, February & March 2022


Previous analysis… https://analysis.tfxi.com/2021/10/14/triumphfx-forex-analysis-eur-pairs-october-november-december-2021/

EURCHF – Daily Chart

EURCHF Daily Chart

The EURCHF has been bearish.

Price was indecisive but is currently forming a large bearish move lower, suggesting a downtrend. The moving averages confirm this – they are bearish and steady. The EURCHF is looking a little over-extended, signalling a potential retrace move before attempting to move lower.

Selling opportunities could exist around any of the key Fib levels, around the dynamic resistance of the moving averages, around the trend resistance area and around the previous horizontal support levels at 1.0670 and 1.0715. Price may continue to find support around 1.0375.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB will continue to keep ultra-loose monetary policy in order to provide support to the Swiss economy. The bank continues to intervene with Foreign Exchange markets with regard to temper the value of the Swiss Franc.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. They believe that the current spike in inflation is transitionary.

EURGBP – Daily Chart

EURGBP Daily Chart

As suggested in our last EUR chart analysis, the EURGBP has been moving sideways.

Price continues to be indecisive but has been slightly bearish. The EURGBP is currently ranging between 0.8385 and 0.8590. The moving averages are slightly bearish, suggesting a potential break lower.

Trading opportunities may exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). A break to the upside could stall or reverse around the horizontal levels at 0.8660, 0.8720 and 0.8875.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. They believe that the current spike in inflation is transitionary.

The Bank of England (BOE) have increased it’s official bank rate to 0.25%. Inflation is a concern. The UK Unemployment rate is expected to fall.

EURJPY – Daily Chart

EURJPY Daily Chart

Price was bullish, as suggested in our last EUR chart analysis.

EURJPY is now looking indecisive again – price action has been sideways. The moving averages are also sideways – confirming the market indecision.

Trading opportunities could exist around the daily moving averages and around any of the horizontal levels at 125.15, 127.50, 130.60, 133.45 and 134.00.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. They believe that the current spike in inflation is transitionary.

The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is making a steady but moderate recovery from the COVID crisis.

EURUSD – Daily Chart

EURUSD Daily Chart

As suggested in our last analysis, price has been bearish and has swung lower.

EURUSD is clearly down-trending – price action has formed a series of lower swing highs and lower swing lows. Price is currently in a retrace move. The moving averages are bearish and widening, suggesting that the downtrend could continue.

Shorting opportunities may exist around any of the key Fib levels, around the dynamic resistance of the moving averages, around the trend resistance area and around the horizontal levels at 1.1530, 1.1680 and 1.1890. A bearish move could be rejected or reverse around the recent swing low at 1.1200.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery. The current rate is set at 0.25% (record lows). The Fed will be cautious about raising rates, especially with the current Omnicron breakout.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. They believe that the current spike in inflation is transitionary.

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