EUR/USD Outlook (24 August 2021)Overall, EUR/USD is trending downwards. Recently, EUR/USD broke above the key level of 1.17.
The French flash PMI data released yesterday indicated that business activities continue to expand strongly in August.
French Flash Manufacturing PMI (Actual: 57.3, Forecast: 57.1, Previous: 58.0 revised from 58.1)
French Flash Service PMI (Actual: 56.4, Forecast: 56.2, Previous: 56.8 revised from 57.0)
The German Flash PMI data released yesterday indicated a slight slowdown in the pace of expansion of the manufacturing sector activities while the services sector continues to expand fast in August.
German Flash Manufacturing PMI (Actual: 62.7, Forecast: 65.1, Previous: 65.9 revised from 65.6)
German Flash Services PMI (Actual: 61.5, Forecast: 61.0, Previous: 61.8 revised from 62.2)
The eurozone flash PMI data released yesterday indicated that business activities in the eurozone remain strong in August. Furthermore, it was indicated in the PMI report that employment in the eurozone grew at a fast pace.
Flash Manufacturing PMI (Actual: 61.5, Forecast: 62.0, Previous: 62.8 revised from 62.6)
Flash Services PMI (Actual: 59.7, Forecast: 59.6, Previous: 59.8 revised from 60.4)
Currently, EUR/USD is moving up towards the resistance zone of 1.17600 and the next support zone is at 1.16300.
Look for short-term selling opportunities of EUR/USD if it bounces off the resistance zone of 1.17600.
Supportandresistence
GBP/USD Outlook (19 August 2021)Overall, GBP/USD is ranging across. Recently, GBP/USD weakened after the release of the hawkish Federal Reserve meeting minutes.
The UK CPI y/y data (Actual: 2.0%, Forecast: 2.3%, Previous: 2.5%) released yesterday indicated a slowdown in annual inflation but still in line with the Bank of England’s target.
GBP/USD’s next support zone is at 1.36000 and the next resistance zone is at 1.38000.
Look for short-term selling opportunities of GBP/USD.
USD/JPY Outlook (17 June 2021)Overall, USD/JPY is trending upwards. Recently, USD/JPY strengthened and broke above the key level of 110 after the hawkish tone sent out by the U.S. Federal Reserve.
Currently, USD/JPY is testing the resistance zone of 110.800 and the next support zone is at 108.500.
Look for buying opportunities of USD/JPY if it breaks the resistance zone of 110.800.
USDJPY 109.821 + 0.06 % SHORT IDEA PRICE ACTION & STRUCUTREHELLO EVERYONE
HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE IN THE MARKET THIS WEEK, HERE'S A LOOK AT THE USD /JPY .
* follow your entry rules on entries
* significant moves with the bears change the plan.
lets see how it goes.
many stars must align with the plan before executing the trade, kindly follow your rules.
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
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ENTRY & SL - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING TRADE
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