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FX.co ★ Technical Analysis Recommendations for EUR/USD and GBP/USD 02/09/21

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Forex Analysis:::2021-02-09T08:39:04

Technical Analysis Recommendations for EUR/USD and GBP/USD 02/09/21

EUR / USD

Technical Analysis Recommendations for EUR/USD and GBP/USD 02/09/21

Yesterday, the pair remained under the resistance level of 1.206 (weekly Fibo Kijun + daily Tenkan). Today, the bulls are trying to overcome these resistances. A successful consolidation above will open up prospects for a rise to the fortified line of 1.2150-70 (weekly Tenkan + historical level + upper limit of the daily cloud + daily Kijun), intermediate resistance can be noted at 1.2104 (daily Fibo Kijun). The area of 1.206 has all the chances to remain as a center of attraction for a long time. The formation of a rebound from the encountered resistances will return the pair to the important supports of 1.1975-56 (weekly medium-term trend + the lower limit of the daily cloud).

Technical Analysis Recommendations for EUR/USD and GBP/USD 02/09/21

Based on the H1 chart, the players for the promotion have kept their location and work above the key levels, so they currently have the advantage and support of all the technical analyzed tools. Among the rising benchmarks of the lower halves, we can now note R2 (1.2091) and R3 (1.2117). In the event of a breakdown and consolidation below 1.2045-22 (central Pivot level + weekly long-term trend), the current balance of power will change, resulting in bearish prospects for S2 (1.1999) and S2 (1.1979).

GBP / USD

Technical Analysis Recommendations for EUR/USD and GBP/USD 02/09/21

The bulls managed to keep on the situation, as a result, they updated the previous high of 1.3758 today. The main task for further strengthening of bullish sentiment now will be a reliable consolidation above and recovery of the uptrend. The nearest benchmark for a rise is 1.3904 (the first target of the weekly target for a cloud breakout). The daily cross levels will continue to be supported (the first one is the Tenkan of 1.3676).

Technical Analysis Recommendations for EUR/USD and GBP/USD 02/09/21

The bulls are taking advantage and rising continually. At the moment, the zone of influence of the second resistance of the classic Pivot levels (1.3791) is being tested in the lower halves, then the interest will be directed to 1.3833 (R3). The key levels of the lower halves today formed a support and the main reference points in the event of a downward correction, they are located at 1.3722 (the central Pivot level) and 1.3682 (the weekly long-term trend).

Ichimoku Kinko Hyo (9.26.52), Pivot Points (classic), Moving Average (120)

Analyst InstaForex
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