Trading plan for EUR/USD on March 2. COVID-19 is retreating. Euro declines amid strong US data.
Trading plan for EUR/USD on March 2. COVID-19 is retreating. Euro declines amid strong US data.
Demand for risky assets dropped after the release of strong US data.
Forex Analysis & Reviews
Is inflation a disadvantage for the euro?
Europe is thinking about strengthening the inflationary mood. In the United States, this was already settled in the form of aiming to reach the 2% target level. European leaders wanted to do the same, but the path to reach it is difficult.
Technical Analysis of BTC/USD for March 2, 2021
Bitcoin breaks above the short-term trend line resistance
EUR/USD: plan for the European session on March 2. COT reports. Euro sellers broke through support at 1.2037, now aiming for a new low (1.2003)
Yesterday, three signals for entering the market appeared at once. Let's take a look at the 5-minute chart and break down all the entry points. In the first half of the day, the bulls repeatedly tried to rise above resistance at 1.2093, but each time the pair...
GBP/USD: plan for the European session on March 2. COT reports. Pound still under pressure. Next target is 1.3940
Yesterday there was only one normal signal to sell the pound in the morning. The US session did not provide a convenient entry point. Let's take a look at the 5-minute chart and figure out what happened.
Indicator analysis. Daily review of the EUR/USD currency pair for March 2, 2021
Yesterday, the pair moved down, tested the lower fractal of 1.2023 (daily candle from 17.02.2021), and closed the daily candle at 1.2048. Today, the price may continue to move down. As per the economic calendar, news is expected at 8.55 and 10.00 UTC (euro).
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Trading recommendations for starters of EUR/USD and GBP/USD on March 2, 2021
Let's consider the opportunities and prospects for EUR/USD and GBP/USD pairs and open trade deals.
Hot forecast for EUR/USD on 03/02/2021
Although inflation in Germany has increased, investors still fear that it may decline in the entire euro area as a whole, as indicated by data for other member countries of the monetary union...
EUR/USD. March 2. COT report. The inertial growth of the dollar or the beginning of new large-scale growth of the US currency?
For the fourth day in a row, the US currency strengthens its position. Have traders completely switched to the dollar or is this a temporary phenomenon?
GBP/USD. March 2. COT report. Traders are waiting for the draft budget for 2021 from the British Finance Minister Rishi Sunak
Demand for the US dollar continues to grow, however, the entire movement can be described as a technical correction
Elliott wave analysis of USD/CNY for March 2, 2021
USD/CNY bottomed in mid-January 2014 at 6.0402 and has since moved higher in a corrective mode. The first A-B-C correction completed at 7.1842 and the following decline is counted as an X-wave. This X-wave is near completion and will ideally see a bottom near 6.4000 from where a new rally higher is.
Elliott wave analysis of USD/CHF for March 2, 2021
USD/CHF is testing key-resistance near 0.9174 and a break above here will open up for a continuation towards 1.0235 and possibly even higher towards 1.1000 longer term.
Short-term we could see resistance at 0.9295 cap the upside for a temporary correction to 0.9041 before renewed upside pressure.
Bitcoin can be killed by its creator. The mysterious Satoshi Nakamoto is capable of destabilizing the market.
One or more people are hiding the possibility of bringing down bitcoin quotes. However, now it sounds like a fantasy.
Citibank: Bitcoin will be worth $ 318,000.
The number one cryptocurrency is predicted to play the role of "digital gold" and the growth in value in 2021 will increase to absolutely crazy values.
Overview of the GBP/USD pair. March 2. Boris Johnson is going to write off the downturn in the economy from Brexit to the pandemic
The UK went into huge debt in 2020 and will continue to accumulate it in 2021. The pound continues its speculative growth.
Overview of the EUR/USD pair. March 2. The House of Representatives of the US Congress approved the "economic rescue package"
The US government is going to continue to pour trillions of dollars into the economy to encourage its early recovery.
We present to you the daily updated section of market analysis prepared by professional analysts of InstaForex Company. Each of the specialists represented in this section, carries out analytical reviews in accordance with his/her vision of the current situation on foreign exchange and other markets. However, the outlooks below are only recommendations and not instructions to any actions; they contain analysis of the current situation on the currency market. In some cases the analysts' opinions to changes in the current market situation can differ, in this way, we recommend you to follow the publications of only one analyst, who in your view most clearly and correctly evaluates the situation on the international Forex market.
