I’ ll look for the entry points for opening long positions on GBP/USD today. The currency kept the 1.2475 key support level on Friday, February, 10. We can see the power of buyers at the moment. The indicators also point onto the development of an upward trend. I will buy GBP/USD if the price exceeds the 1.2540 level. Potential movement - to 1.2625.
The growth of the Canadian dollar against the US dollar continued yesterday. USD/CAD has formed the 1.3045 local support level at the moment. I plan to open deals towards the current trend. I will sell USD/CAD after the breakout and retest of the 1.3045 mark. Potential movement – to 1.3000.
The speech of Fed Chairman on the monetary policy and the economy is in the focus today. The data on the GDP of the eurozone will be also published. I identified the following key levels: Support: 1.0595 Resistance: 1.0620 I plan to open short-term speculative positions. I will buy the EUR/USD if the price fixes above the 1.0620 level. Potential movement - to 1.0660. I will sell it if the price fixes below 1.0595. Potential movement - to 1.0550.
The US dollar strengthened against the major world currencies yesterday. Janet Yellen stated that it is not necessary to delay an increase in interest rates in 2017. EUR/USD There is an interesting technical pattern on EUR/USD at the moment. I will sell it if the price fixes below 1.0570. Potential movement - to 1.0525-1.0500.
A classic figure of technical analysis, "Triangle", has formed on USD/CAD now. It seems to me that the US dollar will continue to grow today. I would buy USD/CAD after the breakout and retest of the 1.3080 mark. Potential movement - to 1.3100-1.3120.
The demand for the Australian dollar is supported with positive labor market data today. AUD/USD has kept the 0.7695 "mirror" support level. I would buy AUD/USD after the price fixes above the 0.7715 level. Potential movement - to 0.7750-0.7775.
The technical pattern on GBP/USD is mixed at the moment. I identified the following key levels: support - 1.2420 resistance - 1.2545 I will look for the entry points into the market after the breakout and retest these levels. If the price fixes above the 1.2545 level, I will buy GBP/USD. Potential movement – to 1.2670. If the price fixes below 1.2420, I’ll sell it. Potential movement - to 1.2275. This transaction will be a medium-term one.
My yesterday's expectations for AUD/USD have failed. The technical pattern indicates the downward trend development at the moment. I’m going to wait for the retest of the 0.7205 "mirror" resistance level. I’ll sell the pair after the price reaches this mark. Potential movement - to 0.7155.
An interesting technical picture has developed on the USD/CHF. Currency has retained the 0.9935-0.9965 key demand zone. I expect the correction here. I’d buy USD/CHF after the price fixes above the 0.9995 level. Potential movement - to 1.0035.
There are holidays in the United States and Canada today. Trading activity on the financial markets is going to decrease. EUR/USD is trading near the 1.0630-1.0650 local offers area at the moment. I plan to look for the entry points for opening short positions. I will sell it after the price fixes below the 1.0600 round level. Potential movement - to 1.0550-1.0540. The transaction may last for several days.