Forex Daily Analysis : March 26, 2021

The daily forex analysis of March 26, 2021 will discuss the movement of the Aussie which is moving weaker compared to the US Dollar, this is reflected in the trading on Thursday 25 March 2021 yesterday. The weakening of the Australian Dollar is caused by a significant strengthening of the US Dollar. In addition, the weakening of the Aussie is also affected by the tension between Australia and China. For today's market movement, it is expected that the Aussie will try to strengthen but limited, because the Greenback is still very powerful. The strengthening of the Australian Dollar versus the US Dollar is only around the level of 0.76400, after moving in that range, it will weaken again. The greenback again showed its might. The strengthening of the US dollar is supported by the good release of US GDP data. The release of State Revenue and Spending Power (GDP) data of 4.3% was higher than the prediction and the previous quarter which was only 4.1%. This is due to an increase in investment business in the United States, but still far from the previous period which reached 33.4%. The economic growth rate of the United States is predicted to bounce back after the Corona virus pandemic hit. Analysts predict that the US GDP growth rate will be at the level of 4.9% in the first quarter of 2021, then it is also predicted to reach the level of 7% by the middle of this year. In addition, the strengthening of the US Dollar is still boosted by the rise in long-term bond yields, which has been playing an active role in the strengthening of the US Dollar currency for some time. In addition to the betterment of the growth of the US economic rate, the unemployment claim rate on Sunday was released to have decreased. The number of people who filed claims for job losses last week in the release of 684 K was lower than the previous data of 781 K and the prediction of 727 K. Although the release was quite positive for the Weekly Jobless Claims data, economic analysts are still not happy with the data. This is because according to them in March there are still around 18.9 million people who need unemployment benefits. As a result, for the recovery of American employment data from the Covid-19 pandemic, it still takes a long time and can be said to be up to 3-5 years away.

Forex Daily Analysis Predictions

Today's FOREX prediction on the AUDUSD pair is expected to strengthen/rise and the recommended OP (Open Position) is BUY at the level of 0.76100. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points.
Thus the daily analysis of forex on March 26, 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.