Forex Analysis & Reviews: 25.02.2021 - Trading recommendations on...

25.02.2021 12:11 PM

Trading recommendations on the foreign exchange market for novice traders - EUR/USD and GBP/USD 2/25/21

Let's start with an analysis of the economic calendar for the past day where data on new home sales in the United States were published. The indicators came out better than expected, the growth in January to 4.3% against the forecast of 2.1%. The change is quite significant, but the market reacted poorly to the positive data on the US.

At this point, the flow of statistical data ended and the quote continued to obey the speculative behavior of market participants.

What happens on the trading chart?

The EUR / USD currency pair failed to overcome persistent buyers where despite the important price area of 1.2160 / 1.2190, speculators continued to work on the recovery course relative to the correction from the peak of the medium-term trend of 1.2349 - - -> 1.1950 ...

The GBP / USD currency pair showed interest at the moment rolling back about 140 points from the peak of the trend to short positions, but there was only a small margin of error that arose in the market after Asian speculation. In fact, the market participants did not move anywhere and the quote remained at the peak of the mid-term trend.

Trading Recommendation - EUR / USD and GBP / USD on February 25

Today, the economic calendar plan will publish data on the second estimate of United States GDP in the fourth quarter which predicts that the rate of economic decline will slow from -2.8% to -2.5% (y / y). GDP QoQ growth from 4.0% to 4.2%.

At the same time, we have the publication of data on orders for durable goods which may grow by 1.2%, which will positively affect the growth of retail sales.

From the weekly publications, we expect data on the US labor market where simultaneously with GDP and orders for durable goods, indicators on applications for unemployment benefits will be released where they predict that their volume may slightly decrease.

The volume of initial applications for benefits may be reduced from 861 thousand to 838 thousand.

The volume of repeated applications for benefits may be reduced from 4.494 thousand to 4.467 thousand.

The package of statistics for the United States will be published at 13:30 UTC.

Analyzing the current EUR / USD trading chart, we can see that speculators have already broken through the resistance level area of 1.2160 / 1.2190 locally, but there is no price fixing above 1.2200 in the four-hour period.

In the case of confirmation on the four-hour period above the 1.2200 mark, traders will be most confident in the upward course in terms of recovery relative to the January correction of 1.2349 - - -> 1.1950.

An alternative scenario of the market developments is still being considered in the absence of a price hold above 1.2200, in which case traders can resort to a natural rebound basis.

Analyzing the current trading chart of the GBP / USD, you can see that speculators have restored the volume of long positions relative to the recent pullback, where the quote hovered at the peak of the trend.

In order for the speculation to be the strongest, the quotation must overcome the local maximum of 1.4224. In this case, we will open the way in the direction of the area of the maximum of 2018-1.4350 / 1.4380.

It is worth considering that the British currency is very much overheated due to a long upward movement. Thus, you should be particularly attentive to possible price reversals that will lead to a full-size correction move in the market.

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*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

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