FXTM information and reviews
FXTM
93%
IronFX information and reviews
IronFX
92%
Libertex information and reviews
Libertex
91%
FXCC information and reviews
FXCC
90%
Markets.com information and reviews
Markets.com
89%
FxPro information and reviews
FxPro
88%

Bearish scenario is still in the priority


21 April 2021

Despite the ability of buyers to return above the psychological level of 91.00, their activity remains weak. Thus, bearish scenario is still in the priority. The nearest resistance level is 91.30, break and fixation above which will significantly increase the risk of renewal of upward movement. It is also important to consider the dynamics of the price movement. After all, quick return of index quotations to 91.75 would indicate buyers' readiness to resume growth - this scenario is still alternative.

A return of the USDX under the 91.00 level opens the way to 90.50 and further to 90.00.

EUR/USD

The pair is still holding above the psychological level of 1.2000, as well as above the upper boundary of the descending channel. All this indicates that the buyers are ready to resume growth. A bullish scenario will be the priority until the quotes return under 1.2000 and, consequently, under the upper boundary of the descending channel.

The nearest technical resistance levels and, as a result, the target levels are 1.2100 and 1.2175. No important macroeconomic reports from the USA and Europe today.

GBP/USD

After testing the technical resistance level of 1.4000, which had previously repeatedly kept the pair from more powerful growth, we see quite a deep corrective decline. Right at the time of writing the review the British inflation report was published. The actual data was better than the previous figures, but some indicators were worse than expected. That's why buying activity remained moderate.

USD/JPY

Despite the corrective strengthening of the US dollar, the demand for the JPY remains weak. The return of quotations to 108.00 strongly increases the probability of further decrease of quotations to 107.00 and further to 106.45. A bearish scenario will be the priority until the pair's quotes return above 108.35. However only fixation of the quotes above 108.50 might be the first, although rather weak signal, which justifies the buyers' ability to resume growth.

#source

Related

Brent Crude has cleared its way for $100
Brent Crude has cleared its way for $100

The Gas Armageddon doesn’t look likely to leave Europe anytime soon, with its effects trickling more and more clearly into related markets. Brent crude updated...

28 Sep 2021

Strong Durable goods orders are bullish for USD
Strong Durable goods orders are bullish for USD

US Durable goods orders notably exceeded expectations (+0.7% m/m), adding 1.8% in August after rising 0.5% a month earlier. The rise here is a signal of confidence of US...

28 Sep 2021

Yen and tech stocks bleed as yields march higher
Yen and tech stocks bleed as yields march higher

The specter of rising interest rates has returned to haunt financial markets. The Fed breathed some life back into Treasury yields last week after it opened...

28 Sep 2021

S&P 500 H4: Bulls are in the reign
S&P 500 H4: Bulls are in the reign

The S&P 500 on the H4 time frame was in a down trend until a lower bottom was reached on 20 September at 4306.5. After the lower bottom, bulls gathered...

27 Sep 2021

Stocks up as markets look to Berlin & Washington
Stocks up as markets look to Berlin & Washington

Stocks are higher in early trade in Europe, with the DAX jumping 1% at the open as it looks as though Germany is heading for a traffic light coalition - more left, more green...

27 Sep 2021

No clear winner in German elections
No clear winner in German elections

Euro pulls back after inconclusive German election. Dollar balances faster Fed hikes against fading Evergrande fears. Wall Street and oil prices keep climbing ahead of busy week...

27 Sep 2021


Forex Forecasts

OctaFX information and reviews
OctaFX
86%
HotForex information and reviews
HotForex
85%
XM information and reviews
XM
80%
FXCM information and reviews
FXCM
79%
Vantage FX information and reviews
Vantage FX
78%
Moneta Markets information and reviews
Moneta Markets
77%

© 2006-2021 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.