EURUSD GBPUSD USDJPY 🆓 Weekly Analysis [February 27

EURUSD GBPUSD USDJPY 🆓 Weekly Analysis [February 27 – March 06, 2023]

Published: Mon, 02/27/23

EUR/USD, GBP/USD, USD/JPY

Weekly Forex Analysis

(February 27 – March 06, 2023)

Hey! This is Philip with our new weekly outlook for EUR/USD, GBP/USD, and USD/JPY.

The text below contains a short preview of the article.

The Full Weekly Analysis Is Here

EURUSD Technical Analysis:

As we anticipated, EURUSD extended the decline and is approaching the 1.05 level. The sharp reversal down in February is set to form a tall bearish engulfing on the monthly chart (the close is tomorrow). If EURUSD finishes the month below 1.06, it will send a strong bearish signal pointing to further losses for the pair.

The weekly chart shows the 1.05 zone is some moderate support here. Below it, the 1.03 zone is the next support ahead of the important parity (1.00) zone.

To the upside, the first resistance is at 1.07 and then 1.08. Next, the 1.10 zone remains the key resistance for EURUSD.

Read Full Weekly Analysis Here

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Philip
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FX Trading Revolution
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