The data from the 4-hour chart showed that the pair of majors continued to trade in the range limited by 1.1350 - 1.1450. After the growth to the upper limit of the range, the quotes then turned around and ended the trades near the bottom limit. The analysts from Fort Financial Services said that the pair remained in the downwards trend.
The bulls will regain the leadership if they break through the resistance at 1.1450. Their target will be 1.1550 and 1.1650.
The bears will maintain the initiative if they break through the support at 1.1350. Their target will be 1.1260 and 1.1150.
The 4-hour chart showed that the bulls attempted to change the sideways trading into an upwards movement towards 1.4480. However, there was a price rollback and the session ended slightly below that level.
The bulls will regain the leadership if they break through the resistance at 1.4480. Their target will be 1.4560 and 1.4670.
The bears will maintain the initiative if they break through the support at 1.4400. Their target will be 1.4320 and 1.4240.
On the 4-hour time-frame, it was clear that the pair has corrected during the past session. The dollar growth was changed to its decrease and the level 109.00 was overpassed downwards. The analysts from FortFS said that the bulls then resumed their influence and returned the quotes to the intraday maximums.
The bulls will maintain the leadership if they break through the resistance at 109.80. Their target will be 110.60.
The bears will regain the initiative if they break through the support at 108.20. Their target will be 107.40 and 106.60.
Read the full review on our site:
FortFS wishes all traders a Happy Chinese New Year! Only from February 8 to March 12, 2021, we reduce spreads for the 4 most popular trading pairs. New values*: EURUSDf: 0.8 GBPUSDf: 0.9 USDJPYf: 1.0 XAUUSDf: 3.5 *These values are valid only for FLEX accounts Hurry up to take advantage of the offer! Learn more about spreads: https://www.fortfs.com/clients/specifications
Only until February 26, special deposit rates* are available for all traders in Malaysia, Indonesia, Vietnam and Thailand: 3.6 MYR = 1 USD 10 000 IDR = 1 USD 20 000 VND = 1 USD 25 THB = 1 USD *Only Local bank deposit method is included Hurry up to take advantage of the offer until […]