Trading opportunities and trading signals 9 February 2021
During the day there are no influencing events, so we can trade technically without waiting for any events on the economic calendar. We may notice the weakening of the dollar with the increasing strength of gold and the Japanese yen, while those interested in stocks and indices will notice a strong rise in all global stock market indices as risk appetite returns
The pair is trading below the 50-day moving average with negativity on the RSI. Therefore, we expect the possibility of testing very low levels during this week’s trading. We could reach a request for the start of buying around 126.096.
We will follow the pair’s movements throughout the day. Clients who have access to the live viewing trading account are advised to follow the notifications that we will send to them about opening buying positions on the pair when the purchase conditions are met. Therefore, please keep the alert notification feature on mobile phones activated during the day.
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The pair started rising from the low of 1.77901 and heading higher above the 50-day moving average with positivity on the RSI. We can buy from the current levels with little risk with a stop loss below 1.7690, take profit around 1.7906 – 1.800
Currently the pair started rising from the bottom of the demand area 1.56164 to try to rise above the 50-day moving average and the 23.6% Fibonacci area, where we expect a good buying opportunity in the coming hours. Currently, buying can be made from the current levels with little risk, while we may prefer to wait for the pair to rise above the 50 MA. Day to confirm the uptrend, stop loss if buying around 1.5416, take profit 1.5781 – 1.5900