The Weekly Report
SMART TRADING. SMART TRADERS
UPDATED: MON, MAR 08, 2021
This Weeks Coverage:
EURUSD, GBPUSD, AUDUSD, NZDUSD, DXY, DJI
#TRADEWITHTHEMARKET
EURUSD – Decline to Persist
The Euro’s uptrend has hit a roadblock with weak European fundamentals colliding with rallying US Treasury Bond Yields.
EURUSD Hourly Chart – Short Term Outlook
In the short term, we have Hourly resistance at 1.2015 but I personally think it will struggle to bounce back to 1.1950.
A breach of 1.1900 opens up a move towards 1.1750 this week.
EURUSD Daily Chart – Long Term Outlook
The Euro’s uptrend has hit a roadblock and it is now on the way back down towards 1.1550 after breaking Daily support at 1.2050.
AUDUSD – Decline to Persist
The strong USD sentiment is dominating price action and has pushed the Aussie down through 0.7720 Daily support.
AUDUSD Hourly Chart – Short Term Outlook
In the short term, we have a ‘double-barrelled’ resistance level around 0.7740-50 level.
Keep an eye out for RBA Governor Lowe’s speech on Tuesday.
AUDUSD Daily Chart – Long Term Outlook
After breaking down through 0.7720 Daily support I’m expecting the Aussie to at least test the previous low at 0.7550. There’s a good chance for a deeper correction should the US CPI data come in strong this week.
Brad Gilbert
CEO & Founder of Traders4Traders – Brad has been trading for 30 years and was a former Chief FX Trader for Citibank. Brad trades all markets and all timezones.
Educational articles…
Fundamental Analysis, Technical Analysis, Trading Psychology, Latest News & our Top 10 Articles.
Forex Trading Courses, workshops & funding opportunities
Get Funded
Join our Forex T4TCapital Trading Programme and let us run the risk!
Get Educated in your own time and learn how the bankers trade.
Our Complete Online Forex Trading Course is the ideal starting point for all traders, both beginners and veterans .
Make trading a full-time career
Our Fast Track Forex Trading Workshops will take you from the beginning to being a full time trader in 5 days.