Forex | 7 months ago
In the Daily Forex Evaluation segment, we evaluate the major currency pairs based on technical and fundamental analysis. While evaluating the currency pairs, we use the daily chart as it filters the false signals generated during shorter timeframes.
EUR/USD Evaluation - 02 February 2021
As seen from the charts, EUR/USD is trending downwards. Recently, EUR/USD has broken the support zone of 1.20750. If you are willing to cash this movement then Look for selling opportunities of EUR/USD with a strict stop loss.
USD/JPY Evaluation - 02 February 2021
USD/JPY is trending upwards. Look for buying opportunities of USD/JPY. This momentum is expected to continue due to the dollar's strength.
GBP/USD Evaluation - 02 February 2021
GBP/USD is trending upwards consistently from last four months. However, the movements were volatile in between due to the lock down extensions and other economic announcements. One must look for buying opportunities in GBP/USD.
AUD/USD Evaluation - 02 February 2021
AUD/USD is trending downwards with a good momentum from last 5 days. The Reserve Bank of Australia (RBA) will be announcing their monetary policy decision anytime soon, so good volatility is expected. Look for selling opportunities of AUD/USD with a stop loss and maintaining a sufficient balance.
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