Tag Archives: trading psychology

Technical analysis of GBP/USD for February 25, 2020

Overview:The GBP/USD pair will continue rising from the level of 1.2948 today.So, the support is found at the level of 1.2825, which represents the 23.6% Fibonacci retracement level in the H1 time frame. Since the trend is above the 23.6% Fibonacci level, the market is still in an uptrend. Therefore, the GBP/USD pair is continuing with a bullish trend from the new support of 1.2825. The current price is set at the level of 1.2962 that acts as a daily pivot point seen at 1.2948. Equally important, the price is in a bullish channel. According to the previous events, we expect the GBP/USD pair to move between 1.2825 and 1.3048. Therefore, strong support will be formed at the level of 1.2825 providing a clear signal to buy with the targets seen at 1.3048. If the trend breaks the first resistance at 1.3048, the pair will move upwards continuing the development of the bullish trend to the level 1.3117 in order to test the daily resistance 2. In the same time frame, resistance is seen at the levels of 1.3048 and 1.3117. The stop loss should always be taken into account for that it will be reasonable to set your stop…

*Austria Dec Production Index -2.0% On Month Vs. -1.7% In November

Austria Dec Production Index -2.0% On Month Vs. -1.7% In November The material has been provided by InstaForex Company – www.instaforex.com…

South Korea Consumer Confidence Weakens In February

South Korea’s consumer confidence weakened in February after rising in the previous month, survey results from Bank of Korea showed on Tuesday. The consumer confidence index fell to 96.9 in February from 104.2 in January. In December, the index reading was 100.5. The indicator for consumer sentiment regarding current living standards decreased two point to 91, while that concerning the outlook for living standards declined four point to 93 in January. Consumer sentiment related to future household income and future spending fell four points to 97 and 106, respectively. Consumer sentiment concerning current domestic conditions decrease twelve points to 66 and future domestic economic conditions fell eleven points to 76. The expected inflation rate for the following year was 1.7 percent. The survey was conducted among 2,500 households between February 10 and 17. The material has been provided by InstaForex Company – www.instaforex.com…

Dollar Mostly Subdued Against Rivals

The U.S. dollar retreated after displaying some strength earlier in the session on Monday, amid rising concerns about global growth after the coronavirus spread rapidly outside China. The dollar recovered after easing into the negative territory, but was still finding it tough to move up any significantly above the flat line. The dollar index, dropped to a low of 99.11 from around 99.60, and was last seen at 99.28, up slightly from previous close. Against the Euro, the dollar was down marginally at $1.0856, recovering from $1.0874. Earlier in the day, the dollar was up more than 0.4% at $1.0808. Germany’s business confidence improved in February, reports said citing survey data from the ifo institute. The business climate index rose to 96.1 in February from 96.0 in the previous month. The score was above the forecast of 95.3. The assessment of current situation weakened from last month, while expectations improved in February. The current conditions index came in at 98.9 in February versus consensus of 98.6. At the same time, the expectations index rose to 93.4 compared to economists’ forecast of 92.1. Against British Pound Sterling, the dollar strengthened to $1.2928, gaining more than 0.2%. The Japanese Yen gained…

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