Daily Technical Report - 5 February 2018

From files.swissquote.com

EUR/USD is recovering from its recent decrease. The pair is now retracing and lies well above 1.2325 (17/01/2018 high). Hourly support is given at 1.2223 (23/01/2018 low). The technical structure suggests further short-term upside moves. • In the longer term, the momentum is turning largely positive. We favor a continued bullish bias. Key resistance is holding at 1.2856 (15/10/2014 high) while strong support lies at 1.1554 (08/11/2017 low). • GBP/USD is trading lower but appears to head back towards 1.42. The technical structure indicates weakness. Hourly support is given at 1.3916 (23/01/2018 low). • The long-term technical pattern is ... (full story)