Daily Forex Signals

The U.S. dollar advanced pre-FOMC and short traders in the EUR/USD and GBP/USD profited.

The Federal Reserve left their main interest rates unchanged and made clear it was nowhere near exiting its massive support for the economy.

Technically, we saw the EUR/USD testing its support at 1.2058 from where buyers were swooping in. If price falls below 1.2050, we pay attention to a lower target at 1.1950. Bulls should however wait for a renewed break above 1.2160.

The GBP/USD declined amid the market’s setback and short traders may wait for a break below 1.3635 in order to sell pounds towards 1.3580-50.

Elsewhere, the DAX dropped like a stone and we now focus on the lower support around 13300. Below 13240 a next crucial level will be 13000. On the upside we see a resistance at 13900 that could limit near-term upswings.

Daily Forex Signals:

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EUR/USD

Long @ 1.2140

Short @ 1.2080

GBP/USD

Long @ 1.3710

Short @ 1.3635

DAX® (GER30)

Long @ 13620

Short @ 13410

 

Results 2020:

December 2020: +318 pips

November 2020: +75 pips

October 2020: +432 pips

 

We wish you good trades!

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