Today, the calendar is almost empty and the market participants are likely to have a hard time. Nevertheless, there is a news that may serve as a reason for the growth of activity, and we are talking about production orders in the U.S., whose volume should be reduced by 1.3%. Given the tension caused by the plans of U.S. to impose import duties on steel and aluminum, as well as on cars from Europe. Also, even if we recall the growth of warehouse stocks, the drop in orders clearly does not promise the dollar anything good.
The EUR/USD currency pair on March 1 still managed to work out a strong range support level of 1.2180, returning to the buyers' market. Now, we see how the price is already wavering near the periodic level of 1.2350, holding bullish interest. We can probably assume that we will try to fix above the value of 1.2350. Thus, opening the way to the subsequent mark of 1.2400 (1.2420), where it is likely to expect a stagnation with a subsequent pullback. Positions for purchase should be considered only after a clear fixation above 1.2370.
The GBP/USD currency pair plays at the level of 1.3700 level and managed to turn around, returning to the periodic value of 1.3850. Now, we see a slight stagnation within the current value of 1.3850, forming two-digit candles of the "Doji" type. It is possible to assume that the bullish interest will continue and it will rise around the region of 1.3900.
