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Wednesday 1 March Daily Forex trading tips: Trump triumphant?
01/03/2017
Wednesday 1 March Daily Forex trading tips: Trump triumphant?

Wednesday 1 March Daily Forex trading tips, what has President Trump disclosed.  Is it what the markets expected? How did the different currency pairs fair? What was the impact on the greenback? 

AtoZForex – With the February ending , March started with the key note speech from President Trump addressing the the US nation.  Listed are the high impact news events for the rest of the week.  Brief summary of the Daily Trading tips below.

News_010317 

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

President Trumps address summary

Lacking in details and disappointing visionary speech. More of a campaign episode. Speech covered, the following areas:

  • Business- make it easier for companies to do business in the USA whilst ensuring harder for comapnies to leave. Similar to the German model of doing business.
  • Healthcare – called upon Congress to repeal Obamacare, with reforms with greater choice, increased access, lower costs and provide better health care.
  • Defense – called for one of the largest spend on national defense seen in USA history.
  • Immigration – nothing new that he has not repeated before
  • Infrastructure – very top level, lack of details. 
  • Foreign policy – USA to be a continue being a strong ally, however, requesting that every nation contributes (reference NATO)

Wednesday 1 March Daily Forex trading tips

 # 1 AUDUSD – Wednesday 1 March Daily Forex trading tips

Australia avoids a technical recession as the quarterly data was positive. If a nation experiences contraction of GDP in two consecutive quarters it is technically considered to be in a recession. The AUD rallied against its major counterparts after fourth quarter GDP data beat market expectations. The economy grew by 2.4 percent y/y versus 2.0 percent expected and 1.9 percent in the third quarter (revised higher from 1.8 percent). Output increased by 1.1% against an expectation of 0.8% and -0.5% prior on a quarterly basis.

Technicals Intraday Analysis(Daily)   

Wednesday 1 March Daily Forex trading tips

Daily Forex Trading Tips for AUDUSD D1 (click to zoom in)

Moving Averages – Both the 20sma and 100sma are sloping up with the 20sma above the 100sma.
MACD –MACD histogram and signal line are above the neutral line
RSI – RSI is just above the 50 level.

Upside outlook – A close and clear break above the 0.7735 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.

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 – Wednesday 1 March Daily Forex trading tips

Prior to the US Presidents address,  US Dollar driven upwards as Fed’s James Bullard spoke, hinting at a possible earlier than planned rate hike. This strengthened the US against the major currencies.  However, lost some of its ground during the President’s address.

Technicals Intraday Analysis(Daily)   

Wednesday 1 March Daily Forex trading tips

Daily Forex Trading Tips for USDJPY D1 (click to zoom in)

Moving Averages – Price is breaking through the 20sma and is flat while above the 100sma. The 100sma is sloping up, with the 20sma above the 100sma.
MACD –MACD histogram and signal line are below the neutral line
RSI – RSI is just just below the 50 level sloping upwards.

Upside outlook – if the daily closes above the 113.15-20 level,  price could move towards the 115.45-50 level.
Downside outlook – price has to cleanly break below the 112.40 level, for a bearish move towards the 108.25 level. Should break 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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