Thursday 2 March Daily Forex trading tips: Expect some profit taking by investors?


Thursday 2 March Daily Forex trading tips, President Trump disclosed very little detail. However, markets have given him the benefit of the doubt,  based on future delivery of promises.  Markets were pleasantly surprised and investors seem to invest with confidence.  US Dollar strengthened, how long will this bull run continue? 

AtoZForex – Focus turns to the FED and rate hikes in possibly in March. Will Janet Yellen be hawkish on Friday? Brief summary of the Daily Trading tips below.

AtoZforex Hint: Do not trade on a single news event, look at the total picture when news releases are at similar times.

Thursday 2 March Daily Forex trading tips

 # 1 AUDUSD – Thursday 2 March Daily Forex trading tips

The AUD drops on the news release of lower than expected ($3.82 billion)  trade balance data at $1.30 billion in January. Exports ddrooped at a seasonally adjusted 3% in January, after rising 5% in Decemeber. However, imports rose 4%, following a slight increase in December.

Technicals Intraday Analysis(Daily)   

Thursday 2 March Daily Forex trading tips: Expect some profit taking by investors? Daily Forex Trading Tips for AUDUSD D1 (click to zoom in)

Moving Averages – The 20sma is slightly up/flatish and 100sma is sloping up with the 20sma above the 100sma.

MACD –MACD histogram and signal line are above the neutral line

RSI – RSI is between the 50 and 60 level

Upside outlook – For a bullish bias, if we saw daily close and clear break above the 0.7700 level, could be a start of a further bullish move towards the 0.7850 level. There is an interim resistance level at 0.7760 level. 

Downside outlook –  If price cleanly breaks below the 0.7630 level, we can expect price to move towards the 0.7500 – 0.7490 levels with partial profits taken at 0.7580-85 levels.

Fx Sell limit @ 0.7898; SL @ 0.7968; TP @ 0.7748

Fx Buy limit @ 0.7542; SL @ 0.7440; TP @ 0.7700 

AtoZ Forex Daily Free Forex Signals

# 2 USDJPY – Thursday 2 March Daily Forex trading tips

USD bullish drive continues this could part of a pull back to the 115.50 level .

Technicals Intraday Analysis(Daily) 

Thursday 2 March Daily Forex trading tips: Expect some profit taking by investors? Daily Forex Trading Tips for USDJPY D1 (click to zoom in)

Moving Averages – Price is above the 20sma and is flat and above the 100sma. The 100sma is sloping up.

MACD –MACD histogram and signal line are below the neutral line

RSI – RSI is above 50 level sloping upwards.

Upside outlook – price did close above the 113.15-20 level,  and as per our expectation moving towards the 115.45-50 level. As long as price remains above the 113.20 level. 

Downside outlook – our outlook from yesterday remains in place. Price has to cleanly break below the 112.40 level, for a bearish move towards the 108.25 level. Should price breach this level, we cannot rule out a possible move towards the 105.35-30 level.

Fx Sell limit @ 115.50; SL @ 116.32; TP @ 0.7748

Fx Buy limit @ 102.25; SL @ 101.25; TP @ 105.30

Please use correct risk and money management in line with your account size and draw down plan. These are not recommendations, you must carry out your own due diligence. 

Think we missed something? Let us know in the comments section below.

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