<p>On the daily chart below, we can
see that the sellers defended the 1.07 <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-support-and-resistance-20220405/“>resistance</a> and leant on the red long period
<a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-moving-averages-20220425/“>moving
average</a>. The big selloff was caused by <a target=“_blank“ href=“https://www.forexlive.com/news/ka-powell-20230308/“>Fed
Chair Powell</a>’s comments regarding the possibility of a 50 bps
hike at the March meeting and the willing to go above the projected terminal
rate in December 2022. The market interpreted this as a more hawkish stance and
the USD rallied across the board. </p><p>The downtrend for the EUR/USD
pair is still intact and the sellers are now eyeing the breakout of the 1.05
handle to target the next <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-support-and-resistance-20220405/“>support</a> at 1.02. Everything will come
down to the <a target=“_blank“ href=“https://www.forexlive.com/EconomicCalendar“>NFP report tomorrow</a> where a beat should lead to a
breakout and a bigger selloff and a miss should give the buyers again some
control. </p><p>On the 4 hour chart below, we can
see that the selloff after Powell led also to a breakout of the <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-trendlines-20220406/“>trendline</a> before finding support at the
1.0533 level. The price is now consolidating just below the neckline at 1.0576
of the <a target=“_blank“ href=“https://www.forexlive.com/Education/chart-patterns-guide-20220125/“>double
top</a>.
Generally, once the neckline is broken, the target is the measured move from
the high to the neckline projected to the downside, so in this case it would be
1.0457, but we will need a strong NFP report to get there.</p><p>On the 1 hour chart below, we can
see that the sellers started to pile in when the violet trendline gave way in
anticipation of the double top working out. Powell’s comments just happened to
increase the momentum a lot and led to the breakout of both the blue trendline
and the neckline. </p><p>Now, the sellers should be
defending the resistance zone at 1.0576 where we can also find the 38.2% <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-using-fibonacci-retracements-20220421/“>Fibonacci
retracement</a> level. This little range created between 1.0533
and 1.0576 will define the next move based on the NFP data. Break above on a
miss and the buyers will be in control. Break below on a beat and the sellers
will lead the way. </p>

This article was written by ForexLive at www.forexlive.com.

<p class=“MsoNormal“><a target=“_blank“ href=“https://www.zulutrade.com/?utm_source=News&amp;utm_medium=online&amp;utm_campaign=FXCentrum&amp;utm_id=ZT“ target=“_blank“ rel=“follow“>ZuluTrade</a>, the award-winning Finvasia Group social wealth management and social trading platform, has announced a new partnership with FxCentrum, a Seychelles based innovative brokerage firm.</p><p class=“MsoNormal“>This partnership creates more opportunities for traders seeking to diversify their portfolio and, at the same time, explore new cutting-edge tools that the XOH-powered FXCentrum trading platform has to offer. </p><p class=“MsoNormal“>Through its platforms, FXCentrum offers exposure to multiple markets and asset classes, including Forex, Stocks, Indices, and Commodities. Traders with a taste for automated and social investing can enjoy a distinct advantage with ZuluTrade, which is now available to all FXC traders. This integration plays a strategic part in FXCentrum’s organic growth and product diversification, allowing the brokerage to upscale and increase conversion rates across different verticals. </p><p class=“MsoNormal“>ZuluTrade adds the social trading element to FXCentrum’s FSA-regulated trading environment, offering traders of all levels to learn how to trade by copying the successful positions of professional traders and even launch their own strategies and trade ideas as they gain experience. </p><p class=“MsoNormal“>What the social trading leader brings new to FXC is social wealth management, an innovative concept whereby investors are given full control over their capital – as they can start and stop investing in a particular strategy at any time. In addition, ZuluTrade’s “protective shield”, ZuluGuard, scans every trader’s behaviour in real time and removes all strategies that have deviated from the expected loss profile.</p><p class=“MsoNormal“>Greeting the partnership with FXCentrum, Finvasia Group CEO and Co-founder and ZuluTrade CEO Tajinder Virk said: “ZuluTrade welcomes FXCentrum to its growing ecosystem. Our vision is to provide traders with a transparent, broker-agnostic social wealth management environment allowing them to reach their goals. By joining forces with FXCentrum, we make a step forward towards reaching our goal: making ZuluTrade the social wealth management platform of choice for investors worldwide.”</p><p class=“MsoNormal“>As it continues to expand across geographies, ZuluTrade is expected to release new products and services in the upcoming months. However, no official statements have been made. </p><p class=“MsoNormal“>To learn more about the company and its broker partnerships, visit <a target=“_blank“ href=“https://www.zulutrade.com/?utm_source=News&amp;utm_medium=online&amp;utm_campaign=FXCentrum&amp;utm_id=ZT“ target=“_blank“ rel=“follow“>ZuluTrade</a> website</p>

This article was written by ForexLive at www.forexlive.com.

<ul><li>S&amp;P 500 futures -0.4%</li><li>Nasdaq futures -0.6%</li><li>Dow futures -0.2%</li><li>Eurostoxx -0.7%</li><li>Germany DAX -0.6%</li><li>France CAC 40 -0.6%</li><li>UK FTSE -0.8%</li></ul><p style=““ class=“text-align-justify“>There’s not much in terms of catalysts as broader markets are waiting on the US jobs report tomorrow before firming up any convictions.</p><p style=““ class=“text-align-justify“>That said, bond yields are holding steady during the session so far. 10-year Treasury yields are sitting back close to the 4% threshold, seen at 3.995% currently. Meanwhile, 2-year yields while slightly lower are still sitting above the 5% mark – now seen at 5.038%.</p><p style=““ class=“text-align-justify“>Adding to that, bond yields in Europe are also looking perky and looking to fresh cycle highs. 2-year German bond yields are up 1.2 bps to 3.345%, hovering at its highest levels since October 2008.</p><p style=““ class=“text-align-justify“>However, when you look over to the major currencies space, it’s hard to find a matching theme. The dollar is lower across the board with USD/JPY leading the drop, down 0.8% to 136.20 at the moment.</p><p style=““ class=“text-align-justify“>The non-farm payrolls data can’t come soon enough.</p>

This article was written by Justin Low at www.forexlive.com.

<p>On the daily chart below, we can
see that after bouncing from the key <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-support-and-resistance-20220405/“>support</a> level at 32684, the price
rallied towards the <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-support-and-resistance-20220405/“>resistance</a> at 33538. The sellers leant on
that level and the red long period <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-moving-averages-20220425/“>moving
average</a> before the big selloff caused by <a target=“_blank“ href=“https://www.forexlive.com/news/ka-powell-20230308/“>Fed
Chair Powell’s</a> comments on a possible 50bps hike at the March
meeting and a higher terminal rate. </p><p>The price is now again at the key
support level and the breakout will come down to the NFP report tomorrow. If
the data beats expectations, we should expect the breakout and a bigger selloff
with the first target being at 31800. In case the data misses forecast, we
should expect another rally probably towards the resistance at 33538. </p><p>On the 4 hour chart below, we can
see more closely how the rally stalled at the resistance at 33538 where we had
also the daily long period moving average and the 50% <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-using-fibonacci-retracements-20220421/“>Fibonacci
retracement</a> level of the entire downward move. </p><p>That was a strong level that
buyers couldn’t break and folded as soon as Powell sounded more hawkish than
expected. The moving averages are now crossed to the downside and will act as
resistance in case we get a pullback before the data. </p><p>In the 1 hour chart below, we can
see that he price <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-divergence-20220429/“>diverged</a> with the <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-macd-20220427/“>MACD</a> right at the support and we got
a pullback. This should be a sign of uncertainty before the data release. The
pullback may extend to the 32937 level where we can also find the 38.2%
Fibonacci retracement level just above. </p><p>That’s going to be a good resistance
zone for the sellers and one that buyers will need to break decisively if they
want to target the resistance at 33538. Anyway, the data will guide the market,
so watch out for tomorrow. </p>

This article was written by ForexLive at www.forexlive.com.