EUR/USD: Bearish Breakout Below 1.13

The U.S. dollar rally continues and while king dollar remains bid, the EUR/USD sells off even more aggressively this morning. With Austria and Germany imposing restrictions on unvaccinated people and with the European Central bank lagging behind the Federal Reserve in tightening its monetary policy there is very little demand for euros right now.

EUR/USD – Breakout below 1.13

If the euro now remains below 1.1370, we will prepare for a lower target at around 1.1220. Caution is however warranted since the pair is deeply oversold.

GBP/USD – Struggles to overcome 1.3450

We see chances shifting in favor of the bears in case the cable isn’t able to stabilize above the 1.3450-level. For bears it will be important that sterling breaks again below 1.3390 in order to expect lower targets at 1.33 and 1.32. Any bullish attempt on the other side, could end with a test of 1.35 – at least in the short-term.

We wish you good trades!

Try out our new signals for cryptocurrencies:


Long @ 4260

Short @ 4125

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2021 MaiMarFX.

Follow us on social media: