Tag Archives: US Dollar

February 25, 2020 : GBP/USD Intraday technical analysis and trade recommendations.

On the period between December 18th – 23rd, bearish breakout below the depicted previous bullish channel followed by transient bearish movement below 1.3000 were demonstrated on the H4 chart.However, immediate bullish recovery (around 1.2900) brought the pair back above 1.3000.Bullish breakout above 1.3000 allowed the mentioned Intraday bullish pullback to pursue towards 1.3250 (the backside of the broken channel) where the current wide-ranged movement channel was established between (1.3200-1.2980).Recent temporary bearish breakdown below 1.2980 enhanced further bearish decline towards 1.2890 (the lower limit of the movement channe) where evident bullish rejection was manifested on February 10.Last week, temporary bullish breakout above 1.3000 has been expressed until Wednesday when another bearish decline below 1.3000 brought the GBPUSD pair back towards the lower limit of the channel @ 1.2870 -1.2850 where another episode of bullish recovery is being demonstrated.As expected, the current bullish pullback managed to pursue towards the price zone of 1.2980-1.3000 which may fail to offer enough bearish rejection.Although the Intermediate-term technical outlook remains bearish below the price level of 1.3000 (Supply-Zone), any bullish breakout above 1.3000 should be waited as a valid Intraday BUY entry.If so, further bullish advancement will be demonstrated towards the price levels of 1.3070 and 1.3150.On…

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…

GBP/USD: plan for the European session on February 25. Buyers of the pound are counting on good news on trade negotiations

To open long positions on GBPUSD, you need:
On Monday morning, the British pound fell. However, the bulls quickly took control of the market, forming the lower border of the ascending channel already in the North American session, which I drew attention to in my review yesterday. While trading is above the intermediate support of 1.2933, which acts as the middle of the wide side channel of 1.2890-1.2980, we can expect the pound to return to the maximum of last week in the area of 1.2978 and its update, which will lead to a test of the area of 1.3020, where I recommend taking the profits. Without such a scenario, talking about the long-term advantage of buyers will not be entirely true, especially since the beginning of trade negotiations between the UK and the EU promises to be very problematic. If the bulls do not cope with this task, most likely, the pressure on the pound will return. So, it is best to open new long positions after forming a false breakdown in the support area of 1.2889 or immediately on a rebound from the minimum of 1.2851.
To open short positions on GBPUSD, you need:
The sellers of the pound will try to…

*Japan Producer Prices +2.3% On Year In January

Japan Producer Prices +2.3% On Year In January The material has been provided by InstaForex Company – www.instaforex.com…

Japan Producer Price Data Due On Tuesday

Japan is on Tuesday scheduled to release January numbers for producer prices, highlighting a light day for Asia-Pacific economic activity. Producer prices are forecast to hold steady, higher by 2.1 percent on year. Japan also will see final December figures for its leading and coincident indexes; their previous readings were 91.6 and 94.7, respectively. The material has been provided by InstaForex Company – www.instaforex.com…

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