Forex Daily Analysis : 05 March 2021

The daily forex analysis for March 05, 2021 will discuss the CHF currency which weakened against the US dollar in Thursday's trading. The weakening of the Swiss Franc currency is caused by the strength of the US Dollar. Although the USDCHF pair has not been the dominant choice of traders, the movement of the Swiss Franc is softer and easier to understand and know the characteristics of the pair. For today's movement, Friday, March 05, 2021, it is estimated that the Swiss Franc will continue its weakness. The greenback is increasingly showing its might. The strengthening of the US dollar was due to a speech from Fed chairman Jerome Powell, in his speech Jerome Powell said that the inflation rate is likely to rise. It is also said that the increase in inflation will certainly not make the central bank raise interest rates. The content of his remarks is more or less like this: "We predict that along with normalization activities gradually improve and hopefully it will also be accompanied by economic growth, it will be followed by an increase in inflation. This will result in an increase in the price of goods and services." In addition, Powell did not give his views on the increase in bond yields, even though the discussion was highly anticipated by market participants. Powell's dovish attitude in which he did not intend to change the direction of his economic policy, caused market participants to choose to buy US dollars in droves. The strengthening of the US dollar due to the high yield of US bonds, this is due to the disappointment of market participants because they feel disappointed with the speech of Fed Chairman Jerome Powell who did not give his views and attitude towards the fairly high spike in long-term bond yields that has occurred recently.

Forex Daily Analysis Predictions

Today's FOREX prediction on the USDCHF pair is expected to weaken/rise and the recommended OP (Open Position) is BUY at the level of 0.93000. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points.
This the daily analysis of forex on 05 March 2021. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of trading. You can also join us in the GIC Trade Telegram Community and GIC Trade Telegram Channel. Don't forget to check out the GIC Indonesia Youtube account which is full of a lot of information, and follow our Instagram account to get information about various interesting webinars that you can participate in.