Technical analysis of EUR/USD for March 02, 2015 Market Analysis Review

When the European market opens, some economic news will be released such as Unemployment Rate, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Italian Quarterly Unemployment Rate, Italian Monthly Unemployment Rate, Final Manufacturing PMI, Italian Manufacturing PMI, and Spanish Manufacturing PMI. Besides, the US will release a number of economic reports such as the ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1221.

Strong Resistance:1.1215.

Original Resistance: 1.1204.

Inner Sell Area: 1.1193.

Target Inner Area: 1.1167.

Inner Buy Area: 1.1141.

Original Support: 1.1130.

Strong Support: 1.1119.

Breakout SELL Level: 1.1113.





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Technical analysis of USD/JPY for March 02, 2015 Market Analysis Review

In Asia, Japan will release the Final Manufacturing PMI and Capital Spending q/q. The US will release a number of economic reports such as ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, Personal Income m/m, Personal Spending m/m, and Core PCE Price Index m/m. So there is a big probability the USD/JPY pair will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 120.46.

Resistance. 2: 120.23.

Resistance. 1: 119.99.

Support. 1: 119.70.

Support. 2: 119.46.

Support. 3: 119.23.





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USDCAD Daily Analysis - March 2, 2015 Forex Analysis

USDCAD stayed in a trading range between 1.2352 and 1.2797. The sideways movement could be expected to continue in a couple of days. Support is at 1.2352, as long as this level holds, the sideways movement could be treated as consolidation of the uptrend from 1.1191 (Nov 21, 2014 low), another rise towards 1.3000 is possible after consolidation.

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USDJPY Daily Analysis - March 2, 2015 Forex Analysis

USDJPY's rise from 118.23 extended to as high as 119.95. Further rise to test 120.47 resistance is possible, a break of this level will signal resumption of the long term uptrend from 101.06 (Jul 10, 2014 low), then the following upward movement could bring price to 125.00 area. On the downside, as long as 120.47 resistance holds, the rise from 118.23 would possibly be correction of the downtrend from 120.47, another fall to 116.50 area to complete the downward movement is still possible.

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AUDUSD Daily Analysis - March 2, 2015 Forex Analysis

AUDUSD is testing that support of the upward trend line on 4-hour chart. A breakdown below the trend line support will indicate that the downtrend from 0.8294 (Jan 15 high) has resumed, then the following downward movement could bring price to 0.7000 area. However, as long as the trend line support holds, one more rise to 0.8000 area is still possible.

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GBPUSD Daily Analysis - March 2, 2015 Forex Analysis

GBPUSD is testing that support of the upward trend line on 4-hour chart. As long as the trend line support holds, the fall from 1.5551 could be treated as consolidation of the uptrend from 1.4950, one more rise to 1.5650 area to complete the upward movement is still possible. On the downside, a clear break below the trend line support will indicate that the uptrend had completed at 1.5551 already, then deeper decline to 1.5000 area could be seen.

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EURUSD Daily Analysis - March 2, 2015 Forex Analysis

EURUSD's downward movement from 1.1450 extended to as low as 1.1160. Further decline to test 1.1097 support could be expected, a breakdown this level will confirm that the downtrend from 1.2569 (Dec 16, 2014 high) has resumed, then the following downward movement could bring price to 1.0500 area.

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