The U.S. dollar traded higher against other major currencies after U.S. retail sales exceeded all expectations, rising by most in seven months.
The weakest currency was however the euro which slid below 1.2050 against the dollar, providing short traders a good gain. We believe that the EUR/USD could be vulnerable to further losses with lower targets being at 1.20 and 1.1970. A break below 1.1950 could even send the euro lower towards 1.19. As already mentioned in previous analysis, for bearish sentiment to change we would need to see a break above 1.2170.
The GBP/USD posted a linear decline after reversing from its high at 1.3952. As long as the cable remains below 1.3870, we anticipate a test of 1.38.
Daily Forex Signals:
If you are keen to know where we put Take-Profit and Stop-Loss, if we trade on a specific day or not and how we manage open positions, subscribe to our signals
Long @ 1.2065
Short @ 1.2035
Long @ 1.3880 Trade Hit TP
Short @ 1.3830
Long @ 14010
Short @ 13880
- Subscribe to our daily signal service
We wish you good trades!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2021 MaiMarFX.
Follow us on social media: