Reports over the weekend showed that there was a drop in the number of COVID-19 infection cases in the UK. This influenced an increase in the pound on Monday. However, the full effect of the ease of lockdown on the economy in the long term is yet to be estimated, experts say. COVID-19 Situation in …
Price Action Charts in Focus
EURUSD Is Tapering to a Break Out Point
Market Analysis – EURUSD Is Tapering in a Descending Triangle EURUSD is tapering to break out of a descending triangle. This comes after a major decline in the market from the 16th to the 18th of June 2021. Price then bounced off the support at 1.18400 but failed to make it past 1.19600 and dropped …
USD/Cad Declines as Bears Resume Selling Pressure below Level 1.2600
USD/CAD Long-Term Analysis: BearishUSD/CAD is in a downward move. The pair is retracing after rejection from level 1.2800. The current retracement is likely to reach the low of level 1.2500. Alternatively, USD/CAD will find support above the 21-day SMA. The pair has already fallen to the low of …
