By IFCMarkets
Getting ready for the release of the statistics in the EU and Japan
The upward trend means the strengthening of the euro and the weakening of the Japanese yen. The ECB rate is 0% with inflation in February of 1.2% in annual terms. The Bank of Japan rate is -0.1% with inflation in January 0.7% in annual terms. Other macroeconomic indicators of the EU and Japan are also close to each other. Probably the exchange rate of the currency pair may vary depending on the success of each country in the fight against coronavirus, as well as on the effectiveness of government support for both economies. Trade balance and inflation data for February will be published in Japan this week. In the Eurozone, the most significant data may be business activity indexes in Germany (ZEW), EU consumer confidence index for March and inflation in the EU for February in the 2nd reading, if it changes compared to the 1st reading (+ 1.2% )
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Buy | |
| MACD | Sell | |
| MA(200) | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Buy | |
| Bollinger Bands | Neutral |
Summary of technical analysis
| Order | Buy |
| Buy stop | Above 120,5 |
| Stop loss | Below 115,8 |
Market Analysis provided by IFCMarkets
