- April 1, 2021
- Posted by: admin
- Category: forex trading, Market Insights
General overview: Bulls Analysts from Rabobank point out that while the pound may continue to struggle versus the US dollar in the current environment, and travel towards the higher side in the market. The market makes the potential market towards the higher side in the market. The pair makes the potential buying capacity in market. The pair makes the higher highs in the market and travels towards the buying capacity in the market. Despite the positive backdrop provided by the rapid vaccine programmed in the UK, there is a long way to go before the economy returns to pre-Covid levels. The pair reflects that market can move towards more bullish side in the market. The phase of the market is supporting the bulls in the market. The bulls are going aggressive and broadly headed towards the buy side in the market.
Technical analysis: From the technical point of view we can say that market the positive side in the market. This suggests the market take the positive side towards the market and meet bullish side towards the market. The pair makes the bullish view in the market as the market stand towards the buy side in the market. The pair makes support from the 0.8504 in the market and rising high side in the market. The pair makes the buy side in the market as the market will give us more bullish view after 0.8525 levels in the market .On the 4 hourly chart market rises from 0.8504 and travel towards the buy side in market. The pair is getting support from the major and minor EMA and SMA lines and leads towards the buy side in the market. The RSI is also moving towards the buy side. The support will be 0.8460 followed 0.8400 and resistance will be 0.8557 followed by 0.8600.
Trade idea: Our traders will sit towards the buy side at level above 0.8528 target will be 0.8588 followed by 0.8628 and stop loss will be 0.8458.