FxGrow Fundamental Analysis – 03rd March, 2017
By FxGrow Investment Research Desk
Forex Technical Levels Ahead Of Yellen Speech Today
Markets, analysts, and traders are all poised ahead Fed chair Mrs. Yellen speech today at 6:00 PM GMT and what would result from her speech. Recent appearance of FOMC members kaplan, Harker, Evans, Brainnard, and Powel boosted US Dollar significantly as US Dollar index added +$1.6 from Monday with a 12-Jan-fresh-highs at $102.26. All members were in accord waving the Fed Rates hike card, now important more than ever.
March hike previously was out of consideration and the debate about it was considered a taboo with low probability, but recent booming US economy with Dow breaking record 12 consecutive sessions touching new historical highs and strong US data, forced FOMC members to appear on T.V. and discuss March hike officially on the menu. Now, March odds has increased to 69% (CNBC), therefore Yellen appearance today is considered articular.
Scenarios 1 : Yellen speech would go along with FOMC members adding more value to March hike and US Index will peek further more.
Scenario 2: Previous history of Mrs. Yellen, leaving details vague without confirmation nor denial about March hike would result in US index wallowing and possibility of USD decline.
Fx Technical levels
Resistance levels : R1 1.0553, R2 1.0587, R3 1.0633
Support levels : S1 1.0510, S2 1.0466, S3 1.0422
Resistance levels : R1 114.59, R2 114.96, R3 115.38
Support levels : S1 114.05, S2 113.50, S3 112.96
Resistance levels : R1 1.2275, R2 1.2363, R3 1.2446
Support levels : S1 1.2210, S2 1.2131, S3 1.2068
Resistance levels : R1 0.7572, R2 0.7609, R3 0.7650
support levels : S1 0.7536 , S2 0.7493, S3 0.7449
Resistance levels : R1 1.3455, R2 1.3516, R3 1.3591
Support levels : S1 1.3357, S2 1.3278, S3 1.3210
Gold - XAUUSD
Resistance levels : R1 1232.87, R2 1242.12, R3 1258.14
Support levels: S1 1218.98, S2 1205.45, S3 1194.06
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Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.