The recent bid tone lost its legs around the mark 1.0480 yesterday. The growth slowed down, the euro turned around and retested the level 1.0450 in the NA session. The resistance is seen at 1.0450, the support stands at 1.0400.
We will keep selling the EUR/USD pair if the price consolidates below 1.0450.
Sellers returned control of the flows. The pound just reversed a minor part of its recent losses being able to climb just to 1.2274. After posting a daily high the pair faced a downward rejection. The pound fell and erased its fresh gains. The current resistance is seen at 1.2300, the support exists at 1.2200.
We believe sellers will continue to dominate in the market. A clear break below 1.2200 would indicate that the bearish phase has resumed. After breaking the mentioned level we believe the 1.2100 handle will be next.
The pair was able to strengthen yesterday after a sharp sell-off on Wednesday. The yen failed to register any meaningful recovery and stepped away opening the door for the dollar. The greenback grew from the recent lows and was able to reverse some of its losses. The pair returned to 117.00 ahead of the NY session. The resistance is at 117.00, the support comes in at 116.00.
A break above 117.00 will return bulls in the driver's seat. Bulls aim to retake 118.00. A move below 116.00 will increase immediate bearish pressure. Sellers may drag prices to 115.00.
Read the full review on our site:
Only from November 02nd, 2020, to January 04th, 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 […]
Only from 23 to 25 of November, the largest no deposit bonus 100 USD is available for all Forex traders! 🏆 Bonus details: 100 USD maximum withdrawal 75 lots of required trading turnover 2 weeks to try all of the trading conditions Available for cent accounts 📍 How to get the bonus: 1) Register an […]