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The currency pair tested the lower side of the ascending channel last week. GBP/USD does not show significant growth currently but it stays above the ascending long-term trend line.
We expect the currency pair to end testing of the lower side of the channel and grow above 1.3906.
The currency pair surged last week and broke out the descending trend line. Friday’s Eurozone PMI data releases were mostly positive and supported EUR/USD.
We expect the currency pair to target 1.2144 this week. If it breaks out this resistance area, growth may continue towards 1.2438.
The currency pair tested the lower side of the ascending channel last week. It reversed upwards later, which may be a sign of the end of the descending correction.
As for the important data releases, we can mention UK PMIs, which were better than expected and supported the currency pair by the end of the week. We expect GBP/USD to develop its growth this week...
The currency pair developed its downside correction to the uptrend from April 2020. EUR/USD stays below 1.1879 at press time.
This correction develops despite the better than expected Eurozone’s PMI data released last week. The currency pair stays below the descending trend line.
We expect EUR/USD to return to 1.1879 for testing. Otherwise, the currency pair is...
The currency pair surged last week and broke out 1.3906. GBP/USD stays above this level at press time.
Two central banks meetings will take place this week. We recommend waiting for their results before taking any further actions.
The currency pair tested 1.1879 last week and resumed growth. EUR/USD stays above this level at press time.
As for the events background it was calm. ECB meeting changed nothing and was almost unnoticed. There are two possible scenarios this week. The currency pair is going to retest 1.1879. Otherwise, EUR/USD will grow targeting 1.2144.
The currency pair stays within the ascending channel. GBP/USD tested 1.3906 support level last week. Fluctuations were driven by technical factors due to the lack of important data releases.
We expect GBP/USD to test 1.3906 this week. If the support level prevents the currency pair from further plunge, it is likely to reverse targeting 1.4129.
The currency pair stays above the ascending trend line. EUR/USD failed to break out 1.2144 and stays below this resistance level. There was no important data last week and the fluctuations were driven by the technical analysis. We expect the currency pair to test the ascending trend line this week. The currency pair is likely to test 1.2144 in case if the trend...
The currency pair stays within the ascending channel from spring 2020. The BoA has done nothing more during the latest BoA meeting last week. GBP/USD resumed its growth after testing 1.3591. We expect the currency pair to developed the uptrend after breaking out the red line.
The currency pair plunged last week but had an ascending correction on Friday as US average salary data as well as Non-Farm Employment change data releases were worse than expected. US Unemployment rate was better than expected and plunged to 6.3%.
There will be few important data releases this week. We expect EUR/USD to develop its growth targeting 1.2144.
The currency pair broke down 1.2144 last week and developed its local correction. There were no reasons for this correction as there were few economic data releases last week.
We expect the currency pair to develop this correction targeting 1.1879 as a main scenario. Otherwise, the currency pair will test 1.2144.
The currency par tested 1.3591 last week. There were no important macroeconomic releases last week.
We expect GBP/USD to develop its downtrend targeting the ascending trend line. Otherwise, the currency pair will resume its growth targeting 1.3906.
The currency pair still goes within the ascending channel and corrected last week. GBP/USD’s downtrend was caused by the worse NIESR GDP forecasts.
We expect the currency par to test 1.3267 again this week. If GBP/USD manages to break it out, it will stay within the ascending channel. Otherwise, there is a probability to test the lower side of the channel again.
The currency pair attempted to grow last week but failed to hold above 1.2144 despite the Flag pattern. EUR/USD stays below this level currently.
As for the important events, ECB administration decided to extend the stimulus program and to prolong it up to 2022.
The Fed meeting will take place this week. There will be also a bunch of important Eurozone’s PMIs...
The currency pair develops its global uptrend as it stays within an ascending channel. GBP/USD tested 1.3267 resistance level last week and attempted to plunge towards the lower side of the channel.
We recommend waiting for clarification this week as the currency pair is able to retest 1.3267 or start plunging targeting 1.2980.
The currency pair plunged last week but managed to gain back some positions after the announcement on the COVID-19 vaccine and the FED Head’s statement about the faster recovering economic growth. D.Trump withdraws his complaints, which is another good sign for the markets.
The currency pair is able to follow both directions currently. We are staying between two...
The currency pair surged last week but corrected on Thursday and Friday. GBP/USD’s growth is connected to the USD weakness on the eve of the US Presidential Elections.
We expect GBP/USD to develop its correction this week but the currency pair still continues its midterm uptrend.
The currency pair surged last week regardless weak Eurozone’s PMI data. Services PMI plunges as the Eurozone countries introduce new restriction measures to stop the COVID-19 proliferation. USD loses its positions due to the upcoming US Presidential Elections
The ECB meeting will take place on Thursday this week. We do not expect any changes in the Eurozone’s...