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Resolve

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  1. EUR/USD Eyes More Upsides, USD/CHF Turns Red EUR/USD started a decent increase and it broke the 1.1850 resistance zone. USD/CHF is declining and it could extend losses below 0.9020. Important Takeaways for EUR/USD and USD/CHF The Euro started a fresh increase from well below 1.1800 against the US Dollar. There is a key bullish trend line forming with support near 1.1840 on the hourly chart of EUR/USD. USD/CHF failed to stay above the 0.9120 support and extended its decline. There is a major bearish trend line forming with resistance near 0.9070 on the hourly chart. EUR/USD Technical Analysis The Euro formed a support base above 1.1780 and started a fresh increase against the US Dollar. The EUR/USD pair broke the 1.1820 resistance zone to move into a positive zone. The pair even surpassed the 1.1850 resistance zone and it settled above the 50 hourly simple moving average. Finally, there was a spike above the 1.1900 level. A high was formed near 1.1908 on FXOpen before the pair started a downside correction. There was a break below the 1.1900 and 1.1880 levels. The pair declined below the 23.6% Fib retracement level of the upward move from the 1.1772 swing low to 1.1908 high. It is now consolidating above the 1.1850 support zone. The next major support is near the 1.1840 level. It is near the 50% Fib retracement level of the upward move from the 1.1772 swing low to 1.1908 high. There is also a key bullish trend line forming with support near 1.1840 on the hourly chart of EUR/USD. A downside break below the 1.1840 support could start another decline. The next major support could be near the 1.1780 level. On the upside, an initial resistance is near the 1.1875 level and the 50 hourly simple moving average. The main resistance is near 1.1900. If there is an upside break above the 1.1900 resistance zone, the price could rise steadily towards the 1.1950 resistance zone. Read Full on FXOpen Company Blog...
  2. The US Economic Growth Exceeds Expectations The new trading month started with the market participants focusing on Friday’s NFP report. Because the Federal Reserve of the United States has a dual mandate, one that focuses on both price stability and job creation, the way the labor market performs is viewed as decisive for the future path of monetary policy. While inflation has reached the Fed’s target, there is still a lot of room for improvement in the labor market. Fed’s definition of full employment leaves room for more strength before the rates could be lifted. In the middle of last week, the Fed signaled that it is in no rush to lift the rates. Most likely, it remains intentionally behind the curve, wanting to see more strength in the labor market before acting. But inflation and economic growth may trigger action from the Fed sooner than the market expects. We’ve seen the Gross Domestic Product released last week coming out much stronger than the expectations. US GDP Grows Much Faster Than Forecasters Expected The chart above shows a projection for the US GDP made by various institutions in the last quarter of 2020. All of them, including the FOMC, IMF, and OECD, have underestimated the growth of the US economy. As it turned out, the actual growth path out of the economic recession is much steeper, with positive spillover effects for the main US trade partners. Because the United States is the largest economy in the world, a stronger economic recovery there is enough to add one percentage point or more to global growth. Before the passage of the America Rescue plan, most forecasters expected that the economy would grow by 3/4%-4.2% in the four quarters of 2021. But the data released last week shows that the economy grows at an annualized rate of 6.4%, much higher than expected. The solid growth should support the equity markets and keep the US dollar offered. Because most central banks in the developed world have adopted similar monetary policies, which are still loose, the market is dominated by risk-on/risk-off gyrations. Until we see central banks lifting rates, the chances are that the markets will remain correlated. FXOpen Blog
  3. GBP/USD Turns Green, USD/CAD Faces Hurdles GBP/USD started a fresh increase and it broke the 1.3880 resistance. USD/CAD is recovering, but it is facing hurdles near 1.2520. Important Takeaways for GBP/USD and USD/CAD The British Pound started a steady increase above the 1.3850 and 1.3880 resistance levels. There is a key bullish trend line forming with support near 1.3875 on the hourly chart of GBP/USD. USD/CAD started a steady decline below the 1.2550 and 1.2520 support levels. There was a break above a short-term declining channel with resistance near 1.2455 on the hourly chart. GBP/USD Technical Analysis After forming a base above the 1.3620 level, the British Pound started a decent increase against the US Dollar. The GBP/USD pair broke the 1.3750 resistance level to move into a positive zone. The bulls gained pace above the 1.3850 level and the 50 hourly simple moving average. The pair even broke the 1.3950 resistance level. A high was formed near 1.3981 on FXOpen and it is currently correcting lower. There was a break below the 1.3950 support level. The pair traded below the 50% Fib retracement level of the recent move from the 1.3843 swing low to 1.3981 high. On the downside, the first key support is near the 1.3875 area. There is also a key bullish trend line forming with support near 1.3875 on the hourly chart of GBP/USD. The trend line is close to the 76.4% Fib retracement level of the recent move from the 1.3843 swing low to 1.3981 high. If there is a break below 1.3875 and 1.3860, the pair could decline towards the 1.3825 support zone. Any more losses might call for a test of the 1.3720 support. On the upside, an initial resistance is near the 1.3940 level. The first major resistance is near the 1.3980 level. The main resistance is now near the 1.4000 zone, above which the pair is likely to accelerate higher towards the 1.4050 and 1.4100 levels. Read Full on FXOpen Company Blog...
  4. I choose to do my Forex trading with the International Broker FXOpen Markets 🙂
  5. We will have to make more Efforts so that we are able to make more profits.
  6. It becomes important for us to understand that we will need to make expert technical analysis.
  7. If we will start our trading business then we will be able to get profits with experience.
  8. We will need to become realistic traders so that we are able to get more Profits.
  9. We will need to do a lot of practice in the business of foreign exchange market to earn money.
  10. We must understand that if we will lower the risk in our trading than our losses will start to come down.
  11. We will need to spend some time into the business of foreign exchange market to become professional trader.
  12. You will need to understand that if we will make use of lower trading leverages then we will be safe.
  13. We will have to understand the importance of trading with the help of a Good Plan of Action.
  14. I am using the International and Reputed Broker FXOpen Markets 🙂
  15. If we will start spending more time into this business then our trading profits will start to increase.

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