Forex Daily Analysis: March 23, 2021

The daily forex analysis of March 23, 2021 will discuss the movement of USDCHF. Amid the strength of the US Dollar and the increase in US government bond yields for a period of 10 years, the USDCHF movement weakened. The weakening of the Swiss Franc currency can be seen on the chart of the ascending candle. The Swiss Franc had strengthened after the statement of TheFed chairman Jerome Powell who gave a dovish view of the American economy. For today's market movement, it is expected to try to strengthen the Swiss Franc currency. Although the Swiss Franc is not the safe haven currency of choice for market participants, its movement is stable compared to other major currencies. Meanwhile, for the US Dollar currency, its movement is still quite stable and at its highest level. The strengthening of the Greenback was supported by the increase in US government bond yields for 10-year tenors. Bond yields had declined, the yield on 10-year bonds had fallen below the level of 1.70%. For the 30-year tenor, it also decreased and even further decreased to around 2.40%. Today the chairman of TheFed is scheduled to give his remarks, TheFed chairman Jerome Powell is planned to give his responsibility before the House Committee on Financial Services. He will give his views back, the day before he has given a dovish view. For the agenda tonight at 21:00 WIB, it is estimated that Powell will still repeat his views on the policies that will be taken the same as in his previous speech. According to several TheFed officials Joh Williams, Lael Brainard, Raphael Bostic, Thomas Barkin and James Bullard they gave their view that the American economy is still far from improving. They said this even though as we all know that the situation is gradually starting to improve and is also followed by indicators of the improving economic level.

Forex Daily Analysis Predictions

Today's FOREX prediction on the USDCHF pair is expected to strengthen/decline and the recommended OP (Open Position) is SELL at the level of 0.92200. 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 March 23, 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.