EUR/USD: Technical Forecast: Bearish
From the beginning of the week, EUR/USD stays at consolidation in a range of 40 pips. This range can accumulate big liquidity and we expect the market to run aggressively. We are still bearish long term. We have several important news today in Europe – PMI of France, German and EU. On the other hand, we have and very important news for the US economy – Initial Jobless Claims and New Home Sales (MoM).
Our important levels will be:
- Expect Bearish move from Resistance Zone 1 -> 1.11590
- Expect Bearish move from Resistance Zone 2 -> 1.12091
- Expect Bearish move from Resistance Zone 3 -> 1.12388
GBP/USD: Technical Forecast: Bearish
Yesterday we saw a nice decline in GBP/USD which we expected and wrote about it at the beginning of the week. Today we will look for continuation or consolidation but still, we are still bearish Long term.
Our Important levels are:
- Expect Bearish move from Resistance zone 1 – 1.26730
- Expect Bearish move from Resistance zone 2 – 1.27050
- Expect Bearish move from Resistance zone 3 – 1.27695
Good luck at the markets, Traders.