EUR/USD: Technical Forecast: Bearish
Yesterday we saw a nice spike up in EUR/USD after a big decline in the Asia trading session. Long term we are still bearish however we expect to see a new spike up in the price during today’s London Session. We have several important news today: First is ECB’s President Draghi speech and during London Lunch is ECB’s Praet speech. We expect to see the first decline from our Resistance Zone 1
Our important levels will be:
- Expect Bearish move from Resistance Zone 1 -> 1.11643
- Expect Bearish move from Resistance Zone 2 -> 1.12091
- Expect Bearish move from Resistance Zone 3 -> 1.12388
GBP/USD: Technical Forecast: Bearish
Like in EUR/USD, in GBP/USD we saw a spike up yesterday but the market close again Bearish. Today we have several important news about GBP/USD and all of them are during the London Trading Session. We expect a big move in GBP/USD and we are still bearish. The most important news for GBP/USD today is Consumer Price Index (YoY). We will look for entry around this news because we expect big liquidity to take place at the market.
Our Important levels are:
- Expect Bearish move from Resistance zone 1 – 1.27695
- Expect Bearish move from Resistance zone 2 – 1.29106
- Expect Bearish move from Resistance zone 3 – 1.31040
Good luck at the markets, Traders.