Forex Daily Analysis: March 25, 2021

The daily forex analysis on March 25, 2021 will discuss the weakening of the Euro against the US Dollar which occurred in trading on Wednesday, March 24, 2021 yesterday, this weakness occurred due to market concerns about the third wave of the Corona virus outbreak. This concern occurred after Germany reimposed the lockdown. In addition to these concerns, the weakening of the Euro is also affected by the strengthening of the US Dollar. This weakness occurred despite the release of positive economic data from Francis and Germany. The economic data is that the French Flash Services PMI was released 47.8 higher than the forecast and the previous period which was only 45.5 and 45.6. In addition, the German Flash Manufacturing PMI economic data was also released 66.6, higher than the prediction and the previous period which was only 60.4 and 60.7. In addition, the German Flash Services PMI data was released 50.8 above expectations and the previous month which was only 46.4 and 45.7. Today's market movement, Thursday, March 25, 2021, is expected to continue its weakening against the US Dollar, due to concerns in European countries about the Corona outbreak with the latest phase that occurred and the extension of social tightening in Germany. The greenback is moving steadily at its highs compared to other major currencies. This strengthening is still supported by the rise in US government bond yields, although Fed Chairman Jerome Powell's statement tends to be dovish. In her agenda of remarks with Finance Minister Janet Yellen, Powell said that currently even though there is an increase in inflation, according to him there is no need to worry. According to Powell, the increase will not be large and will continue, in other words, only a temporary bias. With this view, he feels that he will still maintain the interest rate at the level of 0% - 0.25%. In his remarks on the second day, Powell was of the view that there was no need to worry too much about the increase in US bond yields for the long term. The incident is considered natural and is actually an optimistic attitude of the market in responding to economic movements. US Treasury Secretary Janet Yellen's view of the American economy, when discussing the government's plan to raise employment and wage taxes. Yellen is of the view that the impact of the increase in corporate taxes on the price of goods and services at the consumer level has become unclear. However, he explained that the funds collected from tax revenues will be able to help the state spending plan, including infrastructure development and new jobs so that a positive economic level will be created.

Forex Daily Analysis Predictions 

Today's FOREX prediction on the EURUSD pair is expected to strengthen/rise and the recommended OP (Open Position) is BUY at the level of 1.18300. 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 25, 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.