Quiet Trading

Dear traders,

It has been a relatively quiet start to the new week with many trading instruments consolidating within narrow price ranges. Both EUR/USD and GBP/USD refrained from extending previous gains and consolidated below crucial resistance levels.

Let’s see what today brings.

EUR/USD: The pair proved unable to overcome 1.2120 – at least until now. If it now falls below 1.2040, bearish momentum may accelerate with lower targets being at 1.20 and 1.1950. For bullish action to revive we need to see a renewed break above 1.2115 or on the downside, a test of the current support zones at 1.20 and 1.1950.

GBP/USD: Watch out for breakouts either above 1.3920 or below 1.3860 for renewed momentum.

DAX: The ‘sleepy’ index is currently in a narrow sideways trading range and doesn’t offer traders any major chance. We will wait and see.

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: