Yields on US government bonds fell sharply yesterday, with 5-year yields dropping from 3.66% to 3.57%. This morning, the yield became 3.55%. As a result, the dollar index fell by 0.38% yesterday, and the British pound rose by 0.35%.
The main target level is 1.2598, but there are two more levels: 1.2524 and 1.2545. The bears, however, have not loosened their grip – the Marlin oscillator does not share the bulls’ optimism, predicting a quick price reversal. Falling below 1.2447 will confirm such a scenario. The nearest target will be the MACD line around 1.2340 on the daily chart.
On the four-hour chart, the price is trying to climb above the balance and MACD indicator lines, with Marlin in the positive area. The price is rising, and there are no reversal signs, but the pair can fall due to an external reason. Today, data on US housing prices, new home sales, and consumer confidence will be published.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
If you have an interest in any area of Forex Trading, this is where you want to be.
Global Fx Trading Group is a world leader in providing Fx services, o individual traders, including: Unmatched funding programs, on-line education, virtual trading rooms, automation tools, robot building, and personal coaching.
The company was first established by Jeff Wecker, former member of the Chicago Board of Trade, with 25 years in the industry. Jeff has a keen understanding of the needs of Forex traders and those needs are our focus.
Please join our VIP Group while is still FREE …
https://t.me/joinchat/JqsXFBKpyj3YS4bLWzT_rg
Our mission is simple: To enhance as many lives as we can through education and empowerment.
#theforexarmy #forexsigns #forexsignals #forexfamily #forexgroup #forexhelp #forexcourse #forextrade #forexdaily #forexmoney #forexentourage #forextrading #forex #forexhelptrading #forexscalping #babypips #forexfactory #forexlife #forextrader #financialfreedom
