01 Feb Weekly Forex Forecast / Forex Technical Analysis And Forex Signals More (Feb 1st- 5th Feb 2021)
Forex Signals
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GBP/USD still uptrend on the daily chart .If you want to entry,make sure to wait a prices to make a retrenchments and sitting around a strong resistance area so we will be looking for sell setups on lower time frames.on H1: formed a wedge pattern in red and Head and Shoulders pattern in orange but it is not ready to sell yet Forex Signals .
GBP/CAD On this pair we have a very strong impulse to the upside made during the past week as we expected, now the market started a nice correction to the 0.382 Fib level. for such a strong impulse we expect the market to retrace at least to the 0.5 Fib level which aligns perfectly with a strong support area and demand. We will be monitoring price action on the 4H time frame when the market reaches this area in order to place a nice long setup with a 1/5 RR so we can ride the continuation of the impulse to the upside.
Crude Oil Still Running with upside and this week market try to make a up move for touch weekly previous resistance zone before goes down retrenchment.
EUR/JPY is trading below the local high Which serves as a resistance level I think we will see a retest of this level and then a move down to retest the support confluence .
Silver Still try to continue bullish moment before takes Next resistance Point.
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