Forex | 6 months ago
In the Daily Forex Evaluation segment, we evaluate the major currency pairs which are also the most traded currency pairs based on technical and fundamental analysis. The most traded currency pairs are EUR/USD – Euro Dollar, USD/JPY – Dollar Yen, GBP/USD – Pound Dollar and USD/CHF – Dollar Swiss Franc. While evaluating the currency pairs, we use the daily chart as it filters the false signals generated during shorter timeframes.
EUR/USD Evaluation - February 19th, 2021
As seen from the charts, EUR/USD is trending downwards. The euro remained under pressure against the US dollar. Recently it showed a small positive momentum but it struggles to maintain this. Look for short-term selling opportunities of EUR/USD with a strict stop loss. Many important economic data are yet to be released in coming days.
USD/JPY Evaluation - February 19th, 2021
The data released from the Japanese government was disappointing. The Japanese exports to United States and European Union fell significantly. As seen from the daily chart of USD/JPY, it is trending upwards. US Treasury bonds gave the momentum to the dollar. The current support level is 105.65 and the resistance level is 106.20
GBP/USD Evaluation - February 19th, 2021
The pound is one of the best performing currency this year. GBP/USD but performed impressively for investors. It has just created a two year high of 1.4000. It is in a strong uptrend. It has gained more than 3% this month. One must look for buying opportunities in GBP/USD.
USD/CHF Evaluation (Dollar Swiss Franc) - February 19th, 2021
As seen from the daily chart of USD/CHF, it is trending in rang. The US dollar is expected to we can against Swiss franc because analysts expect that upcoming employment data report would be disappointing. Look for short-term selling opportunities of USD/CHF with a stoploss and maintaining a sufficient balance.
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