Feb 25 2021 0

Yesterday's volatility among risky currencies was quite high, creating very remarkable signals. So please trade with cautions and analyze the charts carefully.

Latest updates:

  • The US House of Representatives will vote on Friday on the US $1.9 trillion bailout bill proposed by Mr. Biden, said Representative Steny Hoyer, the House's No. 2 Democrat.
  • Dollar fell lower in early European session on Wednesday, traders bet on more risky currencies after Federal Reserve Chairman Jerome Powell held a dovish stance during a sell hearing. year. While these policies are designed to support the US economy, many see them as lingering negatives for the dollar.
  • Standard & Poor's rating agency upgraded its national rating for New Zealand to AA + earlier this week, the first national ranking upgrade in the world since the beginning of the pandemic.
  • British Prime Minister Boris Johnson has outlined his plans to reduce the current blockade / restriction orders in phases and earlier this week while vaccine rollout in the UK continues to accelerate.
  • Wang Wentao, China's new Minister of Commerce, said the country was ready to increase trade and economic exchanges with the United States.

USD/JPY

USD/JPY Feb 25

Those who missed the opportunity to buy the previous day did not have a chance to enter a second order when the price rebounded very quickly. The price is currently re-testing the top 106 zone, with no sign of significant rejection. Those with buy orders continue to keep the orders and consider risk mitigation measures such as partial exit or moving Stop Loss. The next target will be 107. However, if there is a strong bearish signal around the current level, a correction will not be ruled out.

EUR/USD

EUR/USD Feb 25

The price has not been able to penetrate the 1.217 zone to create a new high, but it is still respecting the previously broken down channel and not coming back inside of this channel. In addition, the bounce back of the next session created supportive signals for the buyers. The current price action is showing that the selling pressure around this zone is quite weak. Let's keep the old strategy: Wait to buy when the price breaks through this 1.217 level.

GBP/USD

GBP/USD Feb 25

The price had a strong bounce yesterday, rising to its highest level since mid-2018. However, it fell sharply in the second half of the day and produced the signal we have been waiting for: a bearish pin bar that could not be clearer on the daily chart. This bearish signal is generated around the upper bound and in overbought market conditions. Short-term reversal traders may consider short positions. The initial target is zone 1.4, followed by zone 1.38.

USD/CAD

USD/CAD Feb 25

We warned of the possibility of a further decline in USDCAD as recent price action shows that buying pressure around 1.26 is too weak. The price fell sharply and was able to reach the 1.25 zone after a breakdown. Please continue to hold orders and move Stop Loss. Aim at the 1.245 zone.

AUD/USD

AUD/USD Feb 25

Price is heading to the target of 0.80 as expected. Leave the Stop Loss for the previous buy orders and prepare to exit. It is likely that the price will correct down around 0.80 not only because this is a psychological barrier, but at this level it may be of interest to Australian policymakers.

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Fanara Filippo

Hey, I’m Fanara Filippo. I’m the founder of this site. I'm currently living in Bangkok, Thailand. I have been trading forex for more than 5 years. You can read my articles about the best forex brokers on this page. Let’s review brokers today.


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