U.S. Dollar Strengthens And Short Traders Profit

The U.S. dollar advanced against other major currency pairs on Monday and short traders were able to take some profits.

EUR/USD: As anticipated in yesterday’s analysis, the euro broke out of its narrow trading range and slid towards its lower support at 1.2050. For more bearish action we will need to see a drop below 1.2040. A short-term resistance is now seen at around 1.21.

GBP/USD: The British pound slid below 1.3660 but that short-lived dip was not enough to invigorate fresh bearish momentum. In case of a break below 1.3650 we see a next lower target at 1.3620. If the cable holds above 1.3660, traders should anticipate upward swings towards 1.3760.

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

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: