The pair remained in red figures yesterday. The euro continued to advance south and was able to break the level 1.1100. The EUR/USD approached the support 1.1070 during the North American session. The resistance is seen at 1.1100, the support stands at 1.1070.
A move below 1.1070 will indicate a resumption of a downtrend. If the EUR/USD pair manages to break above 1.1100, buyers may lead the price towards 1.1150.
The pound presented a modest bearish tone on Tuesday. The pair was low volatile during the day and sharply fell in the beginning of the North American session. The current resistance is seen at 1.2200, the support exists at 1.2100.
To trigger additional downward movement the price needs to break below the level – 1.2100. The pair is oversold and we expect an upward correction towards 1.2250.
Buyers were unable to drive the pair higher. The price retreated from the local highs and erased some of its gains on Tuesday. Sellers pushed the price below the nearest level 103.50, but failed to drag it lower. The resistance exists at the level 103.50, the support comes in at 102.50.
If the pair keeps growing, the price will recover above the level 103.50 in the nearest time. Sellers can push the USD/JPY pair lower towards the 102.90 mark.
Read the full review on our site:
Only from April 12, 2021, to May 14, 2021, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of […]
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