Technical analysis recommendations for EUR / USD and GBP / USD on February 10
Economic calendar (Universal time)
Today's economic calendar is quite calm. The publication of important indicators is not expected.
EUR / USD
The players on the decline closed the previous week as optimistically as possible and are now close to fulfilling their targets. The downward trends in this area are the daily target for breakdown of the cloud (1.0901-35) and the minimum extremum of the monthly downward trend (1.0879). The nearest resistance in this situation can be identified at 1.0981-92 (extremes) and 1.1018 (weekly Fibo Kijun + daily Tenkan).
In the lower halves, the main advantage remains on the downside of the players. At the same time, the pair is now in the zone of a developing upward correction once again. On the other hand, a reliable fixation above the first most important resistance (1.0957 central Pivot level) will allow us to consider new prospects for continuing the increase. The main reference point in this case will be the weekly long-term trend (1.1009). Today, intermediate intraday resistance can be noted at 1.0973 (R1) and 1.1000 (R2). If the players on the decline manage to complete the correction and continue to decline again, then support for the classic Pivot levels are expected today at 1.0930 - 1.0914 - 1.0887.
GBP / USD
Last week passed under the sign of the bears, who managed to overcome all the efforts of the opponent and returned the pair to the key supports of this area. In the near future, the issue of leaving the zone of long-term consolidation will be decided. If the players to decrease succeed, then it will be possible to consider further prospects and outline new plans. Currently, the tested and most important support area is 1.2882-1.2919 (Fibo Kijun of the week and month), the next bearish reference point is located in the area of 1.2701-36 (weekly levels + monthly Tenkan). At the same time, the role of the nearest resistance and the center of gravity of the current consolidation zone still belongs to the daily cross Ichimoku, whose Tenkan and Kijun have joined today at 1.3043.
The growing upward correction ended at the first key resistance of the lower halves again - the central Pivot-level of the day (1.2905). At the moment, we are witnessing the restoration and development of a downward trend. The downward trends within the day are the support of the classic Pivot levels, which are located today at 1.2853 - 1.2825 - 1.2773.
Ichimoku Kinko Hyo (9.26.52), Pivot Points (classic), Moving Average (120)