Blacklist of scam sites

Forex Traiding

GBP / USD. March 8. COT report. The yield on US government bonds continues to rise, and with it the dollar



GBP / USD – 1H. Good afternoon, dear traders! On the hourly chart, the quotes of the GBP / USD pair closed below the side channel, which slightly increases the likelihood of a further drop in quotations. However, the bear traders did not manage to go far down. The fall in quotations of the Briton has stopped already around the level of 61.8% – 1.3820. Thus, in general, I can say that the British are much better at resisting the onslaught of bear traders than the euro. The euro continues to fall even today, when the information background is empty. Pound Sterling – stays firmly in one place. Apart from the economic statistics from America on Friday, there is another rather important factor that could support the dollar’s rise in recent weeks. This is the rise in the yield of American Treasuries. In fact, 10-year Treasuries have been growing for a long time, but only in recent weeks have they grown much higher than the current inflation rate in the United States and, most importantly, they continue to grow. Today, the yield on 10-year Treasuries is already 1.598%. However, why then does the British show a much more modest fall than the euro? This suggests that there are certain factors that put pressure on the euro, but do not relate to the pound sterling. Or, on the contrary, they support the pound, but have no effect on the euro. Let me remind you that the pound sterling continued the growth process literally until recently, and the euro currency in 2021 is only in a state of decline. Thus, it should be clearly understood that the two major European currencies are moving differently now. It also became known over the weekend that the US Senate voted in favor of a bill that would provide new aid to the American economy. However, given the absence of significant changes in the nature of the movement of both pairs, which I am analyzing, so far I cannot say that this news somehow interested traders. GBP / USD – 4H. On the 4-hour chart, the GBP / USD pair has completed the fall towards the uptrend line. There was no rebound as such, but the pair could not close under the trend line either. Also, a bullish divergence was formed in the MACD indicator, which increases the likelihood of a reversal in favor of the British and renewed growth of this currency. Closing the pair under the trend line will change the current mood of traders to bearish .GBP / USD – Daily. On the daily chart, the pair continues the process of falling in the direction of its upward trend line. In the long term, the bullish sentiment of traders remains. GBP / USD – Weekly. On the weekly chart, the pound-dollar pair closed above the second downtrend line. Thus, the chances of a long-term rally for the pound sterling are significantly increased. News Overview: The calendar of economic events in the UK was empty on Friday. Traders were unable to show a sane movement during the day even despite strong statistics from the US. News calendar for the US and UK: There are no major economic events scheduled in the UK and US today. Thus, the information background will be completely absent. Unlike the euro, the Briton is clearly working out the lack of news on Monday. COT Report (Commitments of traders): The latest COT report from March 2 in the UK turned out to be quite interesting. The most important thing to note is the change in speculators’ sentiment for the reporting week in the opposite direction, when compared with the euro report. The mood of European traders has become more “bearish”, the mood of the British speculators has become more “bullish”. This is a very significant difference, which perhaps explains the fact that the euro has been falling for 2 months, while the pound sterling has been falling for only two weeks. The number of contracts, concentrated in the hands of the category of traders “Non-commercial”, in general decreased by 11 thousand. But Long contracts decreased by 2.6 thousand, and Short contracts – by 8.2 thousand. Thus, large traders still rely on the growth of the British Pound. Forecast for GBP / USD and recommendations for traders: It is recommended to buy the British Pound in case of a rebound from the trend line on the 4-hour chart with targets at 1.3900 and 1.3980. It is recommended to sell the pound sterling today if it closes below the trendline on the 4-hour chart with targets at 1.3721 and 1.3625. TERMS: “Non-commercial” – major market players: banks, hedge funds, investment funds, private, large investors. “Commercial” – commercial enterprises, firms, banks, corporations, companies that buy currency not to obtain speculative profit, but to support current activities or export-import operations. “Non-reportable positions” – small traders, which do not have a significant impact on the price. The material is provided by InstaForex – www.instaforex.com

Related posts
Forex Traiding

GBP / USD Forecast for April 16, 2021

Forex Traiding

plan for the European session on April 16. Commitment of Traders COT reports (analysis of yesterday's deals). Traders are in no rush

Forex Traiding

Simple guidelines for entering and exiting the market for novice traders. (analysis of forex transactions). Currency pairs EURUSD

Forex Traiding

US market 16.04 Intrigue of the moment - who gets tired first - the US market or the Third wave of covid?

Subscribe to our newsletter and
Stay up to date

Leave a Reply

Your email address will not be published. Required fields are marked *