Technical outlook and ideas for Forex pairs
We have outlooked several promising Forex pairs and the result can surprise you!
GBP/USD: picture has worsened
Information is not investment advice
GBP/USD turned down from the levels around 1.3015 this week and fell below the 100- and 200-day MAs in the 1.2960 area. The pair is currently testing the 50% Fibo level at 1.2900. The decline below this point will open the way down to 61.8% Fibo at 1.2785.
On the one hand, daily Moving Averages are horizontal, and technically the bearish momentum is not that big. There’s a chance that the pair may try to retest 1.2960/1.30, where it will surely meet further resistance. That may happen if the US durable goods due later today and GDP growth due on Friday disappoint. On the other hand, if the American figures turn out to be strong, GBP/USD will break below the support.
Similar
Another EUR/USD Trade!
4H Chart Daily Chart We sent out a signal yesterday to long EUR/USD between 1…
New EUR/USD Trade
4H Chart Daily Chart EURUSD declined back yesterday after trying to test its 1…
Popular
What Will Happen with the Euro? An Economic Perspective.
eurusd-is-falling-what-to-expect-from-the-future-price-movement
Will Australia's "Rampant Inflation" Prevail in May?
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
How Will BoJ Meeting Affect the Yen
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus
Choose your payment system
