Markets wait for Powell's speech and updated US employment data
USD/CAD Fresh Momentum Develops!
USD/CAD seems poised to resume its swing higher after registering a minor retreat. Passing above the former high bring a great long opportunity!
Forex Analyse & Reviews
Markets wait for Powell's speech and updated US employment data
The US dollar continues to gain support in the currency market, despite the stabilization of US Treasury government bond yields. Meanwhile, the stock markets are consolidating, moving in a sideways direction.
AUD/USD. Long positions remains to be the priority
The results of RBA's March meeting, which were announced during the Asian session, failed to support the Australian dollar – the AUD/USD pair stayed in the middle of the 0.77 price level. Nevertheless, the AUD retains its upside potential despite the pressure from dollar bulls.
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.
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.
Indicator Analysis. Daily review for the GBP/USD currency pair 03/02/21
Yesterday, the pair moved up, tested the 8 average EMA of 1.3974 (blue thin line) and then rolled back down. Moving down, the price tested 21 average EMA - 1.3890 (black thin line)
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Technical Analysis of EUR/USD for March 2, 2021
Euro deepens the correction, key levels ahead
Technical Analysis of GBP/USD for March 2, 2021
Pound makes another lower low
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).
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.
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