This document provides a daily forecast for several currency pairs for intraday trading on March 21, 2016. It lists preferred buy and sell trades along with expected price targets and alternate scenarios. Various economic data releases and events are also noted that could impact the currency pairs, including German bond auctions, US existing home sales, UK industrial trends orders, and comments from a US Federal Reserve member. Downside movement is predicted for the AUDUSD, USDJPY, XAUUSD, and XTIUSD pairs, while upside is expected for the EURUSD and GBPUSD.

1. Forex Daily Forecast – 21 Mar 2016
Market Research
Forex Daily Forecast – 21 Mar 2016
EURUSD INTRADAY : Probable Upside
Preferred Trade:Preferred Trade:
Buy Above 1.1274Buy Above 1.1274
Expected Target 1.1291Expected Target 1.1291
Alternate Scenario:Alternate Scenario:
Sell Below 1.1257Sell Below 1.1257
Expected Target 1.1240Expected Target 1.1240
Events:Events:
German 12-Month Bubill Auction release on 10:35 GMTby European UnionGerman 12-Month Bubill Auction release on 10:35 GMTby European Union
Existing Home Sales (Feb) release on 14:00 GMTby USExisting Home Sales (Feb) release on 14:00 GMTby US
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2. GBPUSD INTRADAY : Probable Upside
Preferred Trade:Preferred Trade:
Buy Above 1.4457Buy Above 1.4457
Expected Target 1.4472Expected Target 1.4472
Alternate Scenario:Alternate Scenario:
Sell Below 1.4442Sell Below 1.4442
Expected Target 1.4427Expected Target 1.4427
Events:Events:
CBI Industrial Trends Orders (Mar) release on 11:00 GMTby UKCBI Industrial Trends Orders (Mar) release on 11:00 GMTby UK
Chicago Fed National Activity (Feb) release on 12:30 GMTby USChicago Fed National Activity (Feb) release on 12:30 GMTby US
AUDUSD INTRADAY : Probable Downside
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3. Preferred Trade:Preferred Trade:
Sell Below 0.7581Sell Below 0.7581
Expected Target 0.7560Expected Target 0.7560
Alternate Scenario:Alternate Scenario:
Buy Above 0.7603Buy Above 0.7603
Expected Target 0.7624Expected Target 0.7624
Events:Events:
CB Leading Index (MoM) release on 14:30 GMTby AustraliaCB Leading Index (MoM) release on 14:30 GMTby Australia
3-Month Bill Auction release on 15:30 GMTby US3-Month Bill Auction release on 15:30 GMTby US
USDJPY INTRADAY : Probable Downside
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4. Preferred Trade:Preferred Trade:
Sell Below 111.360Sell Below 111.360
Expected Target 111.137Expected Target 111.137
Alternate Scenario:Alternate Scenario:
Buy Above 111.583Buy Above 111.583
Expected Target 111.806Expected Target 111.806
Events:Events:
FOMC Member Lockhart Speaks on 16:40 GMTby USFOMC Member Lockhart Speaks on 16:40 GMTby US
XAUUSD INTRADAY : Probable Downside
Preferred Trade:Preferred Trade:
Sell Below 1252.76Sell Below 1252.76
Expected Target 1249.62Expected Target 1249.62
Alternate Scenario:Alternate Scenario:
Buy Above 1255.89Buy Above 1255.89
Expected Target 1259.03Expected Target 1259.03
Events:Events:
FOMC Member Lockhart Speaks on 16:40 GMTby USFOMC Member Lockhart Speaks on 16:40 GMTby US
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5. XTIUSD INTRADAY : Probable Downside
Preferred Trade:Preferred Trade:
Sell Below 40.95Sell Below 40.95
Expected Target 40.67Expected Target 40.67
Alternate Scenario:Alternate Scenario:
Buy Above 41.23Buy Above 41.23
Expected Target 41.51Expected Target 41.51
Events:Events:
FOMC Member Lockhart Speaks on 16:40 GMTby USFOMC Member Lockhart Speaks on 16:40 GMTby US
Disclaimer:
The Chart and Analysis presented above is only for information purpose and not to be considered as Forex Trading Instruction. BlueMax doesn’t
bear any responsibility for any trading losses that might incur as a result of using this analysis/report.
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