Forex Analysis 24th March 2022

Hello Guys, Hope all are going well.
Today I'm going to share my prediction report analysis on EUR & USD. Lets have a quick look on my note book

What Fundamental Says :

• As Russia-Ukraine war is in the peak, and the business with Russia is closed, so the Euro zone is having heavy crisis in energy like oil, gas. Commodity markets continue to go up. That's why The euro is facing tough time.
• In this uncertainty of financial markets, Commodity and safe heaven currencies like AUD, NZD, CAD, CHF are the gainers in here.
  (A point should be noted that JPY is also safe heaven currency, but as BOJ is in quite indecisive mood for the bank rate issues, that's why JPY is falling down.) And the risk on currency EURO is having upper pressure for several days now.

Also Technical :

• On the other hand, USD is doing quite good themselves. In the last press conference of Fed, the Fed chairman Jerome Powell sounded very hawkish. And if we take the DXY chart in consideration, USD is in a healthy uptrend since Jun, 2021. So I'm bullish on USD until further change in direction.
  
  Image source : Trading View, D1, DXY Index Chart

• In H4 timeframe, 50MA & 200MA are pretty aligned downward which indicates a strong downtrend is still exit.
  And price is retesting 50MA for several times and we can expect the sellers coming into the market at any moment.
  
  Image source : Trading View, EUR/USD H4 chart

So friends that's all, hope you like it. If u wanna see more posts like this, you can follow me. Thank you, Have a Good day.

by @tanmoy17