2024-03-14 • Actualizada
Ahead of the release of US February Retail Sales data, the US Dollar (USD) is showing a modest recovery. Analysts at BBH assess the potential impact of the upcoming data on the USD. A soft reading in spending could prompt another downward correction in the USD, as it might indicate a weakening consumer sentiment. Market expectations suggest a rebound in Retail Sales by 0.8% month-over-month (MoM) in February, following a 0.8% decline in January. Additionally, the Control Group Retail Sales, which exclude certain categories and feed into GDP calculations, are expected to rise by 0.4% in February after a 0.4% decline in the previous month. A robust performance in US consumer spending could dampen expectations of Fed funds rate cuts and bolster the USD, while any signs of spending struggling under higher interest rates may lead to a downside correction in the currency.
The 1-hour timeframe chart on USDCAD is currently showing signs of a likely reversal. However, the fact that the price action has failed to break the previous high, or the trendline resistance could indicate a continuation of the bearish pressure in the meantime.
Analyst’s Expectations:
Direction: Bearish
Target: 1.34501
Invalidation: 1.34957
There are visible signs of consolidation on the 1-hour timeframe chart of NZDUSD. The wedge pattern is supported even further by the presence of a second trendline support, which aligns perfectly with the 200-period moving average. As a result of these confluences, my sentiment on NZDUSD is bullish.
Analyst’s Expectations:
Direction: Bullish
Target: 0.61922
Invalidation: 0.61476
USDJPY has had a long streak of bearish momentum for weeks now with the most recent high remaining unbroken as yet. Considering the presence of a trendline resistance, Fibonacci retracement level, and the bearish array of the moving averages, I stand convinced that the bearish price action may continue.
Analyst’s Expectations:
Direction: Bearish
Target: 147.403
Invalidation: 148.206
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Escenario bajista: Ventas por debajo de 150.30 con TP1:150.00... Escenario alcista tras retroceso: Compras intradía sobre 149.40 con TP: 150.00, TP2:151.00
Panorama General de la semana pasada…
Análisis Fundamental y Análisis técnico EURUSD, EURGBP y EURCAD
Escenario bajista: Ventas por debajo de 1.0820 / 1.0841... Escenario alcista: Compras sobre 1.0827...
Escenario bajista: Ventas por debajo de 2200 / 2194... Escenario alcista más próximo: Compras sobre 2197... Escenario alcista tras retroceso: Considera compras en torno a cada zona de demanda...
Escenario bajista: Ventas por debajo de 5220 ... Escenario alcista: Compras sobre 5225 (Si el precio falla en romper por debajo con decisión)
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