EURUSD pair trend Tuesday, February 2

EURUSD Tuesday, February 2

The short-term trend of the Euro against the US Dollar is neutral and the EURUSD fluctuates in the range of 1.2052-1-1888. From the sellers' point of view, the break of the support of $ 1,2052 could revive the correction that started from $ 1,2348. In this case, the short-term trend of EURUSD will fall to $ 1.1887 at the correction of 61.8% Fibonacci. However, in the eyes of buyers, if the EURUSD crosses above the resistance level of $ 1,2188, it can be prepared to hit the price level of $ 1,2348 again.

Fundamental analysis of the Forex market and the European stock market

Fundamental analysis of the Forex market and the European stock market

Global stock indices have grown along with future US stock indices. However, the recent performance of small traders in the US stock market has worried everyone. In China, the Chinese government is battling a liquidity crisis in its financial system. The most significant price movement in the market is related to silver price fluctuations (XAGUSD). The price of silver has reached the $ 30 range for the first time since 2013. The reason for the rise in silver prices is what is happening on Reddit, and it seems that small investors have entered the silver market as a group.
In Europe, the Stoxx Europe 600 stock index has grown by 1%. Shares of companies related to the silver market recorded the highest growth. The MSCI Asia-Pacific Index is also up 1.7 percent, its biggest gain in three weeks. In the Forex market, we are seeing a strengthening of the British pound. It is said that in the UK, all people eligible for the corona vaccine have received the vaccine. The market is waiting for the official confirmation of this news.
Meanwhile, the future price of silver has increased by 12%. On Friday, the largest tradable silver fund faced an investment of $ 944 million. BlackRock is a tradable silver fund. In the United States, ten Republicans have proposed an alternative to Biden's bailout package. The volume of this financial package is $ 600 billion.

USDCHF Wednesday, January 28

USDCHF Wednesday, January 28

The short-term trend of the US dollar against the Swiss franc is neutral. From the buyers' point of view, a definite resistance break of 0.8925 could indicate the formation of a short-term price floor at 0.8756. In this case, the short-term trend of the USDCHF pair will rise to the level of 38.2% Fibonacci at 0.9193. However, if the USDCHF falls below the partial support of 0.8821, the pair can maintain its short-term downtrend and the USDCHF will be ready to re-hit the price level of 0.8756.

GBPUSD Wednesday, January 28

GBPUSD Wednesday, January 28

The short-term trend of the British pound against the US dollar is neutral, and as long as the support of 1.3608 maintains its position, we can expect another upward movement of the GBPUSD pair. A break of $ 1,3758 could push the uptrend from $ 1,1409 to the estimated 61.8% Fibonacci at $ 1,3956. However, from the sellers' point of view, if GBPUSD falls below $ 1,3608, it will indicate a short-term price peak, especially since there is a downward divergence in the four-hour MACD indicator. In this case, the short-term GBPUSD trend will decline.

EURUSD Wednesday, January 28

EURUSD  Wednesday, January 28

The EURUSD pair is fluctuating above the support of $ 1,2052 and the short-term trend of the Euro against the US Dollar is neutral. From the sellers' point of view, the break of the support of $ 1,2052 could revive the correctional movement that started from $ 1,2348. In this case, the short-term trend of EURUSD will fall to $ 1.1887 at the correction of 61.8% Fibonacci. However, in the eyes of buyers, if the EURUSD crosses above the resistance level of $ 1,2188, it can be prepared to hit the price level of $ 1,2348 again.

AUDUSD Wednesday, January 27

AUDUSD Wednesday, January 27

The AUDUSD pair continues to fluctuate below 0.7819 and the short-term trend of the Australian dollar against the US dollar is neutral. As long as the $ 0.7641 support holds its position, one can expect another uptrend. In the eyes of buyers, a break of $ 0.7819 could trigger a big uptrend to the estimate of 61.8% of Fibonacci at $ 0.8170. However, in the eyes of sellers, if the AUDUSD falls below $ 0.7641, the short-term market trend will decline to support at $ 0.741.

USDCAD Wednesday, January 27

USDCAD Wednesday, January 27

 

The short-term trend of the US dollar against the Canadian dollar is neutral. From the buyers' point of view, the definitive break of 1.2798 could indicate the formation of a short-term price floor, especially since the upward convergence is seen in the four-hour MACD indicator. In this case, the short-term trend of USDCAD will rise to the resistance of 1.2957. According to sellers, if the pair falls below 1.2588, the downtrend will start from 1.4667 to the estimate of 61.8% of Fibonacci at 1.2355.

USDCHF Tuesday, January 26

USDCHF Tuesday, January 26

 

The short-term trend of the US dollar against the Swiss franc is neutral. From the buyers' point of view, a definite resistance break of 0.8925 could indicate the formation of a short-term price floor at 0.8756. In this case, the short-term trend of the USDCHF pair will rise to the level of 38.2% Fibonacci at 0.9193. However, if the USDCHF falls below the partial support of 0.8821, the pair can maintain its short-term downtrend and the USDCHF will be ready to re-hit the price level of 0.8756.

EURUSD Tuesday, January 26

EURUSD Tuesday, January 26

 

The short-term trend of the euro against the US dollar is neutral. From the buyers' point of view, if the EURUSD pair crosses the above resistance level of $ 1.2222, it can continue the upward return from $ 1.2052 and be prepared to hit the price level of $ 1.2348 again. However, from the sellers' point of view, the definitive failure of the support of $ 1,2052 could indicate the entry of the currency pair into the correction phase starting from the rate of $ 1,2348. In this case, the short-term trend of EURUSD will fall to $ 1.1887 at the correction of 61.8% Fibonacci.

GBPUSD Tuesday, January 26

GBPUSD Tuesday, January 26

GBPUSD fluctuates below $ 1.3745 and the short-term trend of the British pound against the US dollar is neutral. As long as the $ 1,3518 support holds its position, one can expect another uptrend. A break of $ 1,3745 could boost the GBPUSD short-term trend and extend the uptrend from $ 1,1409 to the 61.8% Fibonacci retracement at $ 1,3956. From the sellers' point of view, if the GBPUSD currency pair falls below $ 1.3518, it will indicate the formation of a short-term price peak. A downward divergence is seen in the four-hour MACD indicator. If this divergence works, the short-term market trend will decline.