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Forex market reviews

22 February 2019

Market sessions

Tomasz Wisniewski

Tomasz Wisniewski

Daily analytical report (22/02/19)

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The bears are holding all the cards on gold, EURJPY looks set for a big upswing, and the cable could go either way.

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Market sessions

Vadim Josub

Vadim Iossub

EURUSD: expected decline aiming towards 1.1233

On Thursday, trading on the EURUSD pair remained in a sideways trend, moving rather haphazardly within a range of 1.1320 to 1.1364. Wednesday’s intraday high of 1.1371 has provided us with a new resistance level, which must be broken if there’s to be any chance of further growth. On Thursday evening and Friday morning, the EURUSD pair has been seriously testing the lower boundary of the upwards channel. If we get a breakout here, we expect the pair to drop towards 1.1233.

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21 February 2019

Market sessions

Tomasz Wisniewski

Tomasz Wisniewski

Daily analytical report (21/02/19)

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The FOMC minutes provided USD with a short-lived boost. In addition to this, today we’ll be looking at two currency pairs that involve the euro, as well as one that involves 2 safe haven currencies.

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Market sessions

Vadim Josub

Vadim Iossub

EURUSD: 1.1373 remains the immediate target for the bulls

On Wednesday the 20th of February, trading on the EURUSD pair entered a sideways trend within a range of 1.1325 to 1.1370, revisiting the high from the 6th of February in the process, which is at the top of this range. This trend continued into Thursday morning’s trading, where the pair dropped to 1.1330. All the while, the pair has remained within the confines of the newly-formed upwards channel that appeared at the end of last week. The immediate growth target remains at 1.1373, which marks the 50% Fibonacci level of the latest decline. However, the pair could test the lower boundary of the channel on the way to this target.

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