Recap of March:-
Opening Price: - 1.1160 on 2nd March
High of the month till date: - 1.1240 on 2nd March
Low of the month till date: - 1.0460 on 13th March
Fundamental Analysis:-
1. Strong NFP and decline in Unemployment rate, indicative of an imminent rate hikes.
2. Implementation of QE Program began.
3. FOMC on 18th proved to be dovish. The word patient was removed but other synonyms were substituted.
Sentiment Analysis:- Was bearish until the FOMC statement. With a probable rate hike off the table anywhere near June, the sentiment is mildly bullish because in the long run until the rate hike goes on and there isn’t much improvement in the German economy, EURO will continue to fall.
Bearish till 1.0235, 1.0000, and finally to 0.98 by the end of the year.
The upside is considered to be capped by 1.1535 (High of Last month) but a price above 1.1160 might turn the sentiment bullish to a price in the vicinity of 1.1750.
Opening Price: - 1.1160 on 2nd March
High of the month till date: - 1.1240 on 2nd March
Low of the month till date: - 1.0460 on 13th March
Fundamental Analysis:-
1. Strong NFP and decline in Unemployment rate, indicative of an imminent rate hikes.
2. Implementation of QE Program began.
3. FOMC on 18th proved to be dovish. The word patient was removed but other synonyms were substituted.
Sentiment Analysis:- Was bearish until the FOMC statement. With a probable rate hike off the table anywhere near June, the sentiment is mildly bullish because in the long run until the rate hike goes on and there isn’t much improvement in the German economy, EURO will continue to fall.
Bearish till 1.0235, 1.0000, and finally to 0.98 by the end of the year.
The upside is considered to be capped by 1.1535 (High of Last month) but a price above 1.1160 might turn the sentiment bullish to a price in the vicinity of 1.1750.
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