InvestMacro

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.1302
• Prev Close: 1.1438
• % chg. over the last day: +1.20%

The ECB left monetary policy unchanged. But it is reported that a possible policy review may occur in March as inflation continues to rise in the region. At the ECB’s press conference, Christine Lagarde said that it is wise not to rule out a rate hike in 2022 as March and June will be crucial for inflation assessment. Investors are betting on a 40 basis point interest rate hike by December, given the ECB’s changed rhetoric.

Trading recommendations

• Support levels: 1.1414, 1.1329, 1.1275, 1.1254
• Resistance levels: 1.1481, 1.1534, 1.1617

From the technical point of view, the EUR/USD on the hour time is bullish. With the ECB starting to think about a rate hike this year, the euro immediately rose. Under such market conditions, buy trades should be looked for after a small pullback because the price has deviated strongly from the average values. Sell trades are better to look for on intraday time frames but with short targets.

Alternative scenario: if the price breaks out through the 1.1254 support level and fixes below, the mid-term uptrend is likely to be broken.

News feed for 2022.02.04:

• – Eurozone Retail Sales (m/m) at 12:00 (GMT+2);
• – US Nonfarm Payrolls (m/m) at 15:30 (GMT+2);
• – US Unemployment Rate (m/m) at 15:30 (GMT+2).

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3569
• Prev Close: 1.3590
• % chg. over the last day: +0.15%

As expected, the Bank of England raised the interest rates by another 0.25%, to 0.5%, to accelerate the slowdown in inflation. The bank will also complete a £20 billion corporate bond sale by the end of 2023. Inflation will remain above 5% until the end of the year. Traders have raised their bets on future increases in borrowing costs, and markets now expect the Bank of England to raise interest rates to at least 1% by May and 1.5% by November.

Trading recommendations

• Support levels: 1.3583, 1.3524, 1.3457, 1.3434
• Resistance levels: 1.3619, 1.3639, 1.3662

On the hourly time frame, the trend on GBP/USD is bullish. The British pound is fundamentally supported by the Bank of England now. Under such market conditions, buy trades should be looked for after a small pullback because the price has deviated strongly from the average values. At the same time, the MACD indicator indicates a divergence. Sell trades are better to look for on intraday time frames but with short targets.

Alternative scenario: if the price breaks out through the 1.3475 support level and consolidates below, the bullish scenario will be broken.

News feed for 2022.02.04:

• – UK Construction PMI (m/m) at 11:30 (GMT+2);
• – US Nonfarm Payrolls (m/m) at 15:30 (GMT+2).

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 114.37
• Prev Close: 114.98
• % chg. over the last day: +0.53%

The Japanese Yen continues to fall despite the decline in the dollar index. The monetary policy of the Bank of Japan is now aimed at making the JPY cheaper because of the maximum stimulus, while the Fed is tightening monetary policy. The Japanese yen can get a boost only in 2 cases. The first is if the Bank of Japan tightens its monetary policy. The second one is that investors will buy the yen as a safe-haven asset in case of various panic moods in the financial markets like it happened earlier this year.

Trading recommendations

• Support levels: 114.59, 115.37, 115.73
• Resistance levels: 114.98, 114.37, 113.99

The global trend on the USD/JPY currency pair is bullish. The price failed to break through the priority change level. The buyers were able to protect their interests. Under such market conditions, it is best to look for buy deals on the lower time frames from the support level of 114.59. Sell potions can be looked for at the nearest resistance levels, but only with additional confirmation.

Alternative scenario: if the price fixes below 114.37, the uptrend will likely be broken.

News feed for 2022.02.04:

• – US Nonfarm Payrolls (m/m) at 15:30 (GMT+2).

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2665
• Prev Close: 1.2675
• % chg. over the last day: +0.08%

The Canadian dollar is a commodity currency, so it depends not only on the monetary policy of the Bank of Canada but also on oil prices and the dollar index. Yesterday, Brent crude oil reached $91 a barrel for the first time since October 2014, as cold weather engulfed large parts of the US, threatening further oil supply disruptions. As recovering demand outpaces supply, oil markets become increasingly vulnerable to supply shocks. The Canadian dollar has strengthened in recent days due to rising oil prices and a declining dollar index. But now the situation is becoming less clear, so USD/CAD is trading in a flat.

Trading recommendations

• Support levels: 1.2649, 1.2613, 1.2586, 1.2506
• Resistance levels: 1.2729, 1.2792

From a technical point of view, the USD/CAD currency pair is bullish. The price is trading in a flat near the moving average. The MACD indicator has become inactive. Under such market conditions, it is better to look for buy trades on the lower time frames from the support levels of 1.2649. There are no optimal entry points to sell deals now.

Alternative scenario: if the price breaks through the 1.2613 support level and fixes below, the downtrend is likely to resume.

News feed for 2022.02.04:

• – US Nonfarm Payrolls (m/m) at 15:30 (GMT+2);
• – Canada Unemployment Rate (m/m) at 15:30 (GMT+2);
• – Canada Ivey PMI (m/m) at 17:00 (GMT+2).

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1455; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.1385 and then resume moving upwards to reach 1.1615. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.1150. In this case, the pair may continue falling towards 1.1065. To confirm further growth, the asset must break the resistance level and fix above 1.1500.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2684; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2625 and then resume moving upwards to reach 1.2945. Another signal in favour of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2575. In this case, the pair may continue falling towards 1.2480. To confirm further growth, the asset must break the descending channel’s upside border and fix above 1.2895.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6667; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6685 and then resume moving downwards to reach 0.6485. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.6705. In this case, the pair may continue growing towards 0.6805. To confirm further decline, the asset must break the bullish channel’s downside border and fix below 0.6620.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

by JustForex

The US stock indices ended Thursday’s trading with a decline. The Dow Jones (US30) decreased by 1.45%, the S&P 500 (US500) fell by 2.44%, and the NASDAQ technology index (US100) lost 3.74% at the close of the stock market. The disappointing results and an unclear outlook for Meta Platforms (Facebook) dampened market sentiment and left investors worried about other tech companies. But after the market closed, futures on indices jumped sharply on Amazon’s report. The company increased its net income for 2021 by 57%. Amazon shares jumped 14.3% and returned some optimism to investors.

Data from the Institute for Supply Management (ISM) showed that the US Non-Manufacturing Services Business Activity Index fell to 59.9 points in January 2022 from its December level of 62.3. Experts’ consensus forecast was for a stronger drop to 59.5 points. The initial jobless claims in the USA were 238,000 (the forecast was 245,000, the previous 260,000). The US economy shows the recovery, with inflation expectations declining against the background of the upcoming rate hike by the Fed. The US non-farm payrolls report will be released today, so traders should be cautious as volatility will increase. December’s data was disappointing, showing only 199,000 new jobs. Analysts expect January’s figure to be even lower at 110,000 jobs. But if the data turns out to be better than forecast, this will significantly boost the stock market.

European stock markets closed in the red zone yesterday. The statement of the European Central Bank was negative for the markets. The ECB left monetary policy unchanged. But it is reported that a possible policy review may occur in March as inflation continues to rise in the region. At the ECB’s press conference, Christine Lagarde said it is wise not to rule out a rate hike in 2022, as March and June will be crucial for inflation assessments. Considering that the ECB has changed its rhetoric, investors are betting on a 40 basis point interest rate hike by December. The European currency increased sharply on the back of such statements, and major European stock indices went down.

German DAX (DE30) decreased by 1.6%, French CAC 40 (FR40) lost 1.5%, Spanish IBEX 35 (ES35) fell by 0.3%. As expected, the Bank of England raised the interest rate by another 0.25% to 0.5% to accelerate the slowdown in inflation. The bank will also complete a £20 billion corporate bond sale by the end of 2023. Inflation will remain above 5% until the end of the year. Traders have increased their bets on future borrowing cost increases, and markets now expect the Bank of England to raise interest rates to at least 1% by May and 1.5% by November. On that news, the British pound gained support, while British FTSE 100 (UK100) decreased by 0.63% by the end of the day.

The price of Brent crude oil reached $91 per barrel for the first time since October 2014. “WTI oil jumped above the $90 level after an Arctic storm reached Texas and disrupted oil production in the Permian Basin,” said Edward Moya, senior market analyst at OANDA. Geopolitical tensions in Eastern Europe and the Middle East also drive up oil prices. However, in the medium term, some analysts expect a surplus in the oil market as early as next quarter, which will help to slow the recent surge in prices.

Gold now behaves inadequately. On the one hand, the US Federal Reserve System is getting ready to raise the rates, which will lead to the growth of the dollar index and government bond yields and reduction of gold and silver prices. On the other hand, the ECB has hinted that it may change its dovish stance and raise interest rates by the end of 2022. In Britain, the Bank of England raised interest rates. On the third side, investors bought gold as a hedge against inflation, but inflation expectations have already started to decline amid more decisive actions of central banks. It is quite difficult to predict how gold and silver will behave in such a situation, but most analysts are still inclined to believe that gold will have a downward trend this year.

After the stock market closed, Asia-Pacific (APAC) stock markets rose in trading Friday after a sharp rebound in US futures on indices. Japan’s Nikkei 225 (JP225) gained by 0.73% and Australia’s S&P/ASX 200 (AU200) added 0.6%. Consumer prices (inflation rate) in South Korea in January 2022 was 3.6% in annual terms. Thus, the growth rate slowed down from 3.7% in the previous month, although analysts had expected a decrease to 3.3%. South Korea’s Kospi index jumped by 1.57% in today’s trading.

Main market quotes:

S&P 500 (F) (US500) 4,477.44 −111.94 (−2.44%)

Dow Jones (US30) 35,111.16 −518.17 (−1.45%)

DAX (DE40) 15,368.47 −245.30 (−1.57%)

FTSE 100 (UK100) 7,528.84 −54.16 (−0.71%)

USD Index 95.34 −0.59 (−0.62%)

• – Australia RBA Monetary Policy Statement (m/m) at 02:30 (GMT+2);
• – UK Construction PMI (m/m) at 11:30 (GMT+2);
• – Eurozone Retail Sales (m/m) at 12:00 (GMT+2);
• – US Nonfarm Payrolls (m/m) at 15:30 (GMT+2);
• – US Unemployment Rate (m/m) at 15:30 (GMT+2);
• – Canada Unemployment Rate (m/m) at 15:30 (GMT+2);
• – Canada Ivey PMI (m/m) at 17:00 (GMT+2).

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

By Orbex

The current formation of the NZDUSD currency pair hints at a cycle zigzag pattern, which consists of three main sub-waves a-b-c.

On the current chart, we see the second half of a major correction wave b of the cycle degree. It looks fully completed, taking the form of a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ.

After the completion of the correction pattern, the market turned around, and we saw the development of the initial part of the cycle wave c. This wave is likely to take the form of a simple 5-wave impulse, as shown in the chart, consisting of five primary sub-waves ①-②-③-④-⑤.

Sub-waves ①-② have ended, and now the formation of the impulse ③ has begun. This is likely to end at the previous maximum of 0.722.

Alternatively, the formation of a correction wave b of the cycle degree can be continued. Perhaps the primary wave Ⓩ will not be a double, but a triple zigzag (W)-(X)-(Y)-(X)-(Z) of the intermediate degree.

We see that the first four parts of the intermediate pattern have ended. Now the price could soon begin to decline in the final intermediate wave (Z).

The wave (Z) can take the form of a minor double zigzag W-X-Y, as shown in the chart near 0.640.

At that level, primary wave Ⓩ will be at 161.8% of primary wave Ⓨ.

Article by Orbex

Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com

By Orbex

XAUUSD attempts to bounce

The bullions bounce higher as the US dollar softens across the board. Gold is looking to claw back losses from the liquidation in late January.

A close above the psychological level of 1800 would be the first step, pushing short-term sellers into covering their bets. The previous support at 1817 coincides with the 30-day moving average, making it an area of interest and important resistance.

A bullish breakout may send the metal to the previous high at 1847. On the downside, 1780 is a fresh support.

SPX 500 tests resistance

The S&P 500 rallies over better-than-expected corporate earnings. A break above 4490 has eased the selling pressure on the index.

The former daily support at 4600 is now a key resistance that lies over the 30-day moving average. A close above this congestion area could turn sentiment around, paving the way for a recovery towards 4750.

The RSI’s overbought situation may keep the momentum in check temporarily. A pullback may see buying interest in the demand zone between 4410 and 4490.

USOIL consolidates gains

WTI crude continues to climb as OPEC+ refuses to raise its output limit. The RSI inched into the overbought territory on the daily chart after a new high above 85.00.

The bulls could be wary of chasing after the extended rally. 85.00 has turned into a support and a pullback could be an opportunity to accumulate again.

Further down, 82.00 on the 30-day moving average is a major floor for the current rally. The milestone at 90.00 would be the next target when momentum makes its return.

Article by Orbex

Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com

Article By RoboForex.com

Brent

As we can see in the H4 chart, after breaking the high at 86.63 and fixing above it, Brent has stopped at 91.43. At first, the asset intended to reach the post-correctional extension area between 138.2% and 161.8% fibo at 94.53 and 99.41 respectively, but the above-mentioned level turned into strong resistance. Both this resistance and divergence on MACD are a signal in favour of a new pullback towards the local support at 69.26, a breakout of which will lead to the key one at 65.89.

The H1 chart shows the downside correctional targets – 23.6%, 38.2%, and 50.0% fibo at 86.20, 82.94, and 80.34 respectively. A breakout of the resistance will result on a further uptrend.

Dow Jones

As we can see in the daily chart, after completing the first bearish wave, the asset is correcting upwards. As long as the price is trading below the high at 36971.0, the long-term downtrend may continue. The key downside targets are 23.6%, 38.2%, and 50.0% fibo at 32536.0, 29797.0, and 27590.0 respectively.

The H4 chart shows that the correctional uptrend has broken 61.8% fibo; right now, it is heading towards 76.0% fibo at 36050.0. After testing the target level, the index may reverse and fall to reach the support at 33138.0.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Article By RoboForex.com

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading below it, thus indicating a possible descending tendency. In this case, the price is expected to test 6/8, break it, and continue falling to reach the support at 5/8. However, this scenario may be cancelled if the price tests and breaks 7/8 to the upside. After that, the instrument may grow towards the resistance at 8/8.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD is trading below the 200-day Moving Average to indicate a descending tendency. In this case, the price is expected to break 3/8 and move downwards to reach the support at 2/8. However, this scenario may no longer be valid if the price breaks the resistance at 4/8 to the upside. After that, the instrument may reverse and resume growing towards 5/8.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

By Orbex

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Article by Orbex

Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.1269
• Prev Close: 1.1304
• % chg. over the last day: +0.31%

Despite declining inflation in countries such as Spain and Germany, the Eurozone consumer price index increased unexpectedly in January. Inflation was 5.1% (previous 5.0%) in annual terms, more than double the ECB’s target of 2%. Investors now expect the ECB to become more aggressive in its monetary policy, but analysts do not share this view and believe the ECB will leave its policy unchanged. The next ECB meeting will be held today. On Wednesday, the ADP data showed that the US private sector jobs declined by 301,000 last month, much worse than analysts expected.

Trading recommendations

• Support levels: 1.1275, 1.1253, 1.1233
• Resistance levels: 1.1321, 1.1384

From the technical point of view, the EUR/USD on the hourly time frame has changed to bullish. The price showed strong growth for three days in a row and finally broke through and consolidated above the priority change level. Under such market conditions, buy trades should be looked for after a slight pullback because the price has deviated strongly from the average values. Sell trades are better to look for on intraday time frames but with short targets.

Alternative scenario: if the price breaks out through the 1.1203 support level and fixes below, the mid-term uptrend is likely to be broken.

News feed for 2022.02.03:

• – Eurozone Services PMI (m/m) at 11:00 (GMT+2);
• – Eurozone Producer Price Index (m/m) at 12:00 (GMT+2);
• – Eurozone ECB Monetary Policy Statement (m/m) at 14:45 (GMT+2);
• – Eurozone ECB Interest Rate Decision (m/m) at 14:45 (GMT+2);
• – Eurozone ECB Press Conference (m/m) at 15:30 (GMT+2);
• – US Initial Jobless Claims (w/w) at 15:30 (GMT+2);
• – US ISM Services PMI (m/m) at 17:00 (GMT+2).

The GBP/USD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.3515
• Prev Close: 1.3576
• % chg. over the last day: +0.45%

Today the Bank of England will hold its next monetary policy meeting. Analysts expect the Bank of England to raise the interest rate again by 0.25% and report its plans to withdraw economic stimulus gradually. In December, the Bank of England forecast inflation to peak at around 6% in April, but price growth this month jumped more than expected to 5.4%, the highest in almost 30 years. The labor market also tightened. An increase in interest rates, as a rule, leads to a rise in the national currency in the medium term.

Trading recommendations

• Support levels: 1.3524, 1.3457, 1.3434
• Resistance levels: 1.3583, 1.3619, 1.3639, 1.3662

On the hourly time frame, the trend on GBP/USD has changed to bullish. The price confidently broke through the priority change level and consolidated higher. Under such market conditions, buy trades should be looked for after a slight pullback because the price has deviated strongly from the average values. Sell trades are better to look for on intraday time frames but with short targets.

Alternative scenario: if the price breaks out through the 1.3434 support level and consolidates below, the bullish scenario will be broken.

News feed for 2022.02.03:

• – UK Services PMI (m/m) at 11:30 (GMT+2);
• – UK BoE Inflation Report (m/m) at 14:00 (GMT+2);
• – UK BoE Interest Rate Decision (m/m) at 14:00 (GMT+2);
• – UK BoE Monetary Policy Statement (m/m) at 14:00 (GMT+2);
• – UK BoE Gov Bailey’s Speech at 16:15 (GMT+2).

The USD/JPY currency pair

Technical indicators of the currency pair:

• Prev Open: 114.64
• Prev Close: 114.42
• % chg. over the last day: -0.19%

The monetary policy of the Bank of Japan is now aimed at making the Japanese yen cheaper because of the maximum economic stimulus, while the Fed is tightening monetary policy. But amid a drop in the dollar index, the Japanese yen has strengthened over the past three days. Analysts remain confident that USD/JPY will rise this year.

Trading recommendations

• Support levels: 114.37
• Resistance levels: 114.69, 114.87, 115.19

The global trend on the USD/JPY currency pair is bullish. Yesterday, the price tried to break down through the priority change level but failed to consolidate lower. Now a false breakout has been formed. Under such market conditions, it is better to buy on the lower time frames from the priority change level. There are no optimal entry points for sell deals right now.

Alternative scenario: if the price fixes below 114.37, the uptrend will likely be broken.

News feed for 2022.02.03:

• – Japan Services PMI (m/m) at 02:30 (GMT+2).

The USD/CAD currency pair

Technical indicators of the currency pair:

• Prev Open: 1.2682
• Prev Close: 1.2666
• % chg. over the last day: -0.13%

The Canadian dollar is a commodity currency, so it depends not only on the monetary policy of the Bank of Canada but also on the oil prices and the dollar index. As expected, OPEC+ countries did not change their moderate production plan, despite pressure from major consumers in favor of increased production. The US crude oil inventories fell by another 1 million barrels last week. Supply shortage and geopolitical tensions in Eastern Europe and the Middle East keep oil high.

Trading recommendations

• Support levels: 1.2649, 1.2613, 1.2586, 1.2506
• Resistance levels: 1.2729, 1.2792

From a technical point of view, the USD/CAD currency pair is bullish. The price is trading in a flat near the moving average. The MACD indicator has become inactive. Under such market conditions, it is better to look for buy trades on the lower time frames from the support levels of 1.2649. There are no optimal entry points to sell deals now.

Alternative scenario: if the price breaks through the 1.2613 support level and fixes below, the downtrend is likely to resume.

There is no news feed for today.

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

By Orbex

AUDUSD recoups losses

The Australian dollar recovered after the RBA signaled an end to its bond-buying program.

The recent sell-off below the daily support and psychological level of 0.7000 further weighed on market sentiment. As the RSI dipped again into the oversold territory, short-term sellers’ profit-taking has driven the price higher.

The bears could be looking to fade the current rebound unless the bulls succeed in pushing past 0.7180. 0.7030 is a fresh support and 0.6970 a major floor before June 2020’s lows near 0.6800.

USDCAD tests support

The Canadian dollar advanced after November’s GDP exceeded expectations. A break above the supply zone at 1.2730 has put the US counterpart back on track.

Nonetheless, the rally came to a halt at the daily resistance at 1.2790. The greenback needed a breather as the surge prevented buyers from chasing after volatility.

1.2580 is a key support and an oversold RSI may raise buyers’ interest again. A close above the said resistance could propel the pair to December’s high at 1.2950.

NZDUSD sees limited rebound

The New Zealand dollar bounced back after the Q4 jobless rate dropped to 3.2%.

The pair saw bids over September 2020’s lows around 0.6530. The RSI’s repeated oversold situation has caught bargain hunters’ attention. However, the directional bias remains bearish.

The kiwi could find resistance at 0.6700 near the 20-day moving average as trend-followers look to sell into strength. 0.6400 would be the next target if the US dollar makes a comeback across the board.

Article by Orbex

Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com