EUR/USD, GBP/USD, USD/JPY
Weekly Forex Analysis
(February 15 - February 19, 2021)
Hey! This is Philip with our new weekly outlook for EUR/USD, GBP/USD, and USD/JPY.
EURUSD Technical Analysis
EURUSD is by and large following the script we laid out a few weeks ago. We said the base case for EURUSD is to remain in a range roughly between 1.20 and 1.22 for the time being. So, far that seems to be playing out as expected.
Currently, the pair has encountered some resistance at the 55-day moving average (blue line) near the 1.2150 level. A test of 1.22, and nearby levels above 1.22, remains very possible. Potentially, a bearish setup or pattern after EURUSD thoroughly tests the 1.22 area could be an ”excellent” selling
opportunity.
To the downside, support remains at the wider 1.20 area, encompassing the 100-day moving average (orange line).
They've been called the "most boring stocks on earth." But I wouldn't trade them for the world. These stocks payout whether the market moves up, down, or sideways (they are mandated by law to make a profit). Today's market roller coaster ride is proof that these "boring" stocks are (or should be) a critical part of your investment strategy.
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Any opinions, news, research, predictions, analyses, prices or other information contained in this newsletter is provided as general market commentary and does not constitute investment advice. FX Trading Revolution will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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