| GBP/USD. February 11. COT report. Bank of England Governor Andrew Bailey has complained about the European Union. 2021-02-11 GBP/USD – 1H. 
According to the hourly chart, the quotes of the GBP/USD pair performed a return to the level of 1.3820, a rebound from it and a reversal in favor of the British dollar with the resumption of the growth process in the direction of the corrective level of 161.8% (1.3895). The upward trend corridor continues to characterize the current mood of traders as "bullish". The closing of the pair's rate under the corridor will work in favor of the US currency and the beginning of the fall of quotes in the direction of the Fibo level of 127.2% (1.3744). Meanwhile, the governor of the British central bank said yesterday that the European Union should not enter into financial wars with the UK. According to him, the EU demands more from Britain and its companies than from its other partners. Since January 1, business London has been cut off from the European Union for obvious reasons, and the bloc is clearly in no hurry to grant these companies access to its market. However, such conditions were not spelled out in the last-minute trade deal between London and Brussels. However, Andrew Bailey understands that if British financial companies lose access to the European market forever, it will be a new blow to the UK economy. Thus, at a minimum, the UK will seek to reunite its financial sector with that of the EU. The European Union is considering the possibility of a conglomeration of the two sectors only in a very limited form and only on the terms of "equivalence". Probably, the European Union wants the same from the UK that Donald Trump wanted from China - approximately equal volumes of imports and exports to equalize the trade balance. Only in the case of the UK and the EU, we are talking about approximately the same balance of financial services. GBP/USD – 4H. 
On the 4-hour chart, the GBP/USD pair performed an increase to the level of 1.3850. The rebound of quotes from this level will allow traders to count on a reversal in favor of the US currency and a slight drop in the direction of the Fibo level of 127.2% (1.3701). Closing the pair's rate above the level of 1.3850 will increase the probability of further growth towards the next corrective level of 161.8% (1.3977). GBP/USD – Daily. 
On the daily chart, the pair's quotes made a consolidation above the corrective level of 100.0% (1.3513), which still allows us to count on continued growth in the direction of the Fibo level of 127.2% (1.4084). GBP/USD – Weekly. 
On the weekly chart, the pound/dollar pair completed a close over the second downward trend line. Thus, the chances of long-term growth of the pound are significantly increased. Overview of fundamentals: Jerome Powell and Andrew Bailey performed in the UK and the US on Wednesday. However, the traders did not pay enough attention to them. The information background was generally present, but it seemed weak for traders. News calendar for the United States and the United Kingdom: US - number of initial and repeated applications for unemployment benefits (13:30 GMT). On February 11, the US will release a report on applications for unemployment benefits and nothing else. The information background will be extremely weak today. COT (Commitments of Traders) report: 
The latest COT report from February 2 for the British was much more "calm" than for the Europeans. During the reporting week, the "Non-commercial" category of traders opened 5.5 thousand long contracts and only 2 hundred fewer short-contracts. Thus, the mood of the major players, according to the COT report, has not changed. Speculators continue to maintain a very restrained "bullish" mood, which can not be said by the behavior of the Briton itself, which continues to remain very high and does not show any signs of having a desire to start falling. Forecast for GBP/USD and recommendations for traders: It was recommended to buy the British dollar at the close above the level of 1.3820 on the hourly chart with a target of 1.3895. These trades can be held now, as the pair remains inside the trend corridor. It is recommended to sell the pound sterling when closing quotes on the hourly chart under the trend corridor with targets of 1.3744 and 1.3698. Terms: "Non-commercial" - major market players: banks, hedge funds, investment funds, private, large investors. "Commercial" - commercial enterprises, firms, banks, corporations, companies that buy foreign currency, not for speculative profit, but to support current activities or export-import operations. "Non-reportable positions" - small traders who do not have a significant impact on the price. EUR/USD. February 11. COT report. Christine Lagarde is pessimistic about the prospects for the European economy. 2021-02-11 EUR/USD – 1H. 
On February 10, the EUR/USD pair stopped its growth process after closing above the corrective level of 38.2% (1.2104). However, this daily pause does not cancel the upward trend. Yesterday, there were no important economic reports, however, there was a speech by Christine Lagarde. Unfortunately, this was just an online interview with one magazine. But there is still something. The most important thing that the ECB chairwoman shared is the information that, if necessary, the bank will expand the emergency program of buying up PEPP assets, which is currently approaching 2 trillion euros. Lagarde again called on the European Parliament and the European Commission to start forming the 750 billion euro economic recovery fund, which was approved last year, as soon as possible. Generate and distribute it among the countries that have been most affected by the pandemic and the economic crisis it has caused. The head of the ECB also said that EU countries will have to maintain high levels of spending in 2021 to stimulate economic growth and not allow the economy to fall back into recession. Let me remind you that Lagarde believes that investing in the economy is the best way to overcome the crisis and recently abandoned the idea of writing off debts to European companies as a measure to combat the consequences of the economic crisis. Thus, the ECB keeps its finger on the pulse and is ready to step in with new incentives at any time. However, there is no talk of lowering the key rate, since it is already at a negative level. Consequently, the ECB can now only expand its stimulus programs. For the euro, this is a "bearish" factor, but bull traders continue to pull the pair up, probably not because of events in the EU, but because of what is happening in the US, where the impeachment procedure of Donald Trump began, and Joe Biden's plan to rescue the economy may also be adopted in the near future. EUR/USD – 4H. 
On the 4-hour chart, the pair's quotes completed a close above the downward trend line, so the mood of traders changed to "bullish". Thus, the growth process can be continued in the direction of the level of 1.2204. Today, the divergence is not observed in any of the indicators. EUR/USD – Daily. 
On the daily chart, the quotes of the EUR/USD pair performed a breakdown of the lower border of the upward trend corridor, which turned out to be false. Therefore, at the moment, the pair has performed a reversal in favor of the euro and resumed the growth process in the direction of the corrective level of 423.6% (1.2496). EUR/USD – Weekly. 
On the weekly chart, the EUR/USD pair has made a consolidation above the "narrowing triangle", which preserves the prospects for further growth of the pair in the long term. Overview of fundamentals: On February 10, the European Union and the United States hosted speeches by Christine Lagarde and Jerome Powell, and the inflation rate in America fell slightly in January. News calendar for the United States and the European Union: EU - economic forecast from the European Commission (10:00 GMT). US - number of initial and repeated applications for unemployment benefits (13:30 GMT). On February 11, the forecast for the economy from the European Commission and the report on applications for unemployment benefits in the United States will be released. COT (Commitments of Traders) report: 
Last Friday, another COT report was released. Let me remind you that the European currency has been losing ground over the past week. Therefore, the weakening of the "bullish" mood in the category of "Non-commercial" traders is quite understandable. However, speculators at the end of the reporting week closed as many as 23 thousand long contracts and at the same time increased 11 thousand short-contracts. Thus, their mood became more "bearish". Nevertheless, the growth of the euro currency quotes last Friday and earlier this week indicates that speculators may have rushed with a massive sell-off of the euro. Forecast for EUR/USD and recommendations for traders: It was recommended to buy the euro currency with the targets of 1.2151 and 1.2197 on the hourly chart when closing quotes above the descending trend line on the 4-hour chart. Now, these positions can be maintained. I do not recommend opening sales today. Terms: "Non-commercial" - major market players: banks, hedge funds, investment funds, private, large investors. "Commercial" - commercial enterprises, firms, banks, corporations, companies that buy foreign currency, not for speculative profit, but to support current activities or export-import operations. "Non-reportable positions" - small traders who do not have a significant impact on the price. EUR/USD: plan for the European session on February 11. COT reports. Bullish momentum slows down. Time to recall the downward correction. Bears aim to surpass 1.2103 2021-02-11 To open long positions on EUR/USD, you need: Yesterday, there was a signal to enter the market, which I spoke about in detail in my afternoon forecast. Let's take a look at the 5-minute chart and see what happened. We could see that buyers tried to break through the resistance of 1.2129 after the German inflation report was released, but after testing this level, the pair did not receive support from the reverse side. As a result, the price returned to the area below the 1.2129 level. Testing this area from the bottom up created a signal to sell the euro. The whole emphasis was placed on the US inflation report, therefore, before this report was published, the pair fell by around 15 points. The US data came as no surprise, which caused EUR/USD to return to the 1.2129 area, which is where trading stuck around until the end of the day. 
Important fundamental data will not be released in the first half of the day, so it is possible that the pair will continue to trade in a horizontal channel. The reports on the German wholesale price index and the economic forecast from the European Commission will hardly surprise the market. A downward correction in the euro has been brewing for a long time. At a minimum, the fact that yesterday, the bulls did not support the euro above 1.2139 indicates a pause in the upward trend. Today, trading may continue further in a horizontal channel, so I advise you to act from the nearest levels in opposite directions. If EUR/USD rises in the first half of the day, buyers will be focused on forming a breakout and being able to settle above resistance at 1.2139. Testing this area from top to bottom creates an excellent signal to open long positions in the euro in order to rise towards a high of 1.2175, where I recommend taking profits. Resistance at 1.2220 will be a distant target. If we receive disappointing fundamental reports on the eurozone economy during the European session, as well as a downward correction in EUR/USD, then buyers will need to focus on protecting support at 1.2103, just above which are moving averages, playing on the side of the bulls. Forming a false breakout there creates a good entry point into long positions while expecting to sustain the upward trend. If buyers are not active at this level, I recommend postponing long positions until the test of the 1.2069 low, from where you can buy the euro immediately on a rebound, counting on an upward correction by 20-25 points within the day. To open short positions on EUR/USD, you need: I recommend opening short positions against the upward trend this morning, but only in case a false breakout forms in the resistance area of 1.2139, which will generate a signal to sell the euro. Weak data on the euro area and Lagarde's speech on the topic of a slower recovery of the European economy will likely weigh on EUR/USD in the first half of the day. This will allow the bears to return EUR/USD to the support area of 1.2103, as the pair's succeeding direction depends on whether the price will surpass this level. A breakout and being able to test this level from the bottom up will create a new entry point for short positions, which will push EUR/USD to a low in the area of 1.2069, where I recommend taking profits. The 1.2035 level will be a succeeding target. If we continue to observe an upward trend from the euro in the first half of the day, and the bears are not active in the resistance area of 1.2139, then it is best to postpone short positions until a new high at 1.2175 has been tested, from where you can sell EUR/USD immediately on a rebound in order to pull it down by 20-25 points within the day. The next major resistance is seen around 1.2220. 
The Commitment of Traders (COT) report for February 2 revealed a sharp rise in short positions and a reduction in long positions, which reflects the pair's downward correction in late January and early February this year. Weak fundamentals for the eurozone economy and lower economic estimates from the European Central Bank limit the euro's growth potential, so does the fact that vaccinations in the eurozone will proceed at a slower pace than expected. All of this will lead to a double recession in the European economy in early 2021, but it is unlikely to seriously affect the medium-term prospects for the EUR/USD recovery. Therefore, with each significant downward correction, the demand for the euro will only increase, and the lower the rate, the more attractive it will be for investors. The prospect of canceling quarantine will clearly keep the market positive in the future. The COT report indicated that long non-commercial positions fell from 238,099 to 216,887, while short non-commercial positions rose from 72,755 to 79,884. Due to the sharp decline in long positions, the total non-commercial net position fell to 137,003 against 165,344 a week earlier. The weekly closing price was 1.2067 against 1.2142. Indicator signals: Moving averages Trading is carried out in the area of 30 and 50 moving averages, which indicates that the market will move sideways or that a downward correction is being formed. Note: The period and prices of moving averages are considered by the author on the H1 hourly chart and differs from the general definition of the classic daily moving averages on the daily D1 chart. Bollinger Bands A breakout of the upper level of the indicator in the 1.2139 area will lead to a new wave of growth for the euro. A breakout of the lower border of the indicator in the 1.2105 area will raise the pressure on the pair. Description of indicators - Moving average (moving average, determines the current trend by smoothing out volatility and noise). Period 50. It is marked in yellow on the chart.
- Moving average (moving average, determines the current trend by smoothing out volatility and noise). Period 30. It is marked in green on the chart.
- MACD indicator (Moving Average Convergence/Divergence — convergence/divergence of moving averages) Quick EMA period 12. Slow EMA period to 26. SMA period 9
- Bollinger Bands (Bollinger Bands). Period 20
- Non-commercial speculative traders, such as individual traders, hedge funds, and large institutions that use the futures market for speculative purposes and meet certain requirements.
- Long non-commercial positions represent the total long open position of non-commercial traders.
- Short non-commercial positions represent the total short open position of non-commercial traders.
- Total non-commercial net position is the difference between short and long positions of non-commercial traders.
GBP/USD: plan for the European session on February 11. COT reports. Bulls still hold the initiative, however the momentum is gradually slowing down. Breakout needed at 1.3862 2021-02-11 To open long positions on GBP/USD, you need: Yesterday afternoon, I still waited for the required signal to enter the market, which I spoke about in my morning forecast. Let's take a look at the 5-minute chart and break down the entry point. In the first half of the day, the bulls reached a breakout of resistance at 1.3825 and consolidated there. However, the reverse test of this level did not take place and the pair continued its upward movement. I also placed an emphasis on the 1.3825 level in my afternoon forecast. And closer to when the report on the US economy would be released, the 1.3825 level was tested from top to bottom, which created an excellent entry point into long positions, which subsequently resulted in growth by 40 points. However, we did not reach the target level of 1.3879, which forced us to revise today's technical picture. 
Important fundamental reports will not be released in the first half of the day, so we can't rule out that the bullish momentum, which is gradually slowing down, will continue today. The weekly high should be updated in order to maintain the trend. This requires a breakout and consolidation above the 1.3862 level. A downward test of this area creates an excellent signal to open long positions in order to sustain the bull market, which will then hit a number of major sellers' stop orders and can cause GBP/USD to rise to a high of 1.3909, where I recommend taking profits. More persistent buyers will be waiting for the resistance at 1.3954 to be updated. If the bulls fail to renew their yearly highs, the pressure on the pound could return. Therefore, forming a false breakout in the 1.3820 area will be a signal to open new long positions. The moving averages, playing on the side of the buyers of the pound, also pass there. If traders are not active in the 1.3820 area, then it would be best to wait for a larger downward correction to the support area of 1.3783 and buy the pound there immediately on a rebound, counting on an upward correction of 20-25 points within the day. To open short positions on GBP/USD, you need: Bears will try to form a false breakout in the resistance area of 1.3862. This scenario will limit the pound's growth potential and create a new signal for short positions. An equally important task is to regain control of support at 1.3820, which they missed yesterday at the beginning of the European session. A downward correction for the pair has been brewing for a long time, so do not be surprised if, after the price breaks through support at 1.3820, a number of buy stop orders are pulled down and we can see the pound sharply falling to the 1.3783 area. Testing this level from the bottom up creates a good signal to sell GBP/USD in order to renew the low at 1.3732, where I recommend taking profits. If GBP/USD does not quickly fall even after a false breakout forms in the resistance area at 1.3862, then it is best not to rush to sell, but wait for a new wave of growth with an exit to the 1.3909 high, from which you can open short positions immediately on a rebound, counting on a downward correction in 20-25 points within a day. The next major resistance is seen around 1.3954. 
The Commitment of Traders (COT) reports for February 2 revealed an increase in both long and short positions. This time there were more buyers, which led to an increase in the positive delta. The bulls' desperate attempts to surpass annual highs will lead to success sooner or later, so buyers do not lose hope that the bullish trend will continue in February. Each major decline in the pound prompts major players to raise long positions in anticipation of a more active GBP/USD recovery in the future. Long non-commercial positions rose from 47,360 to 53,658. At the same time, short non-commercial positions increased from 39,395 to 44,042, which prevented bears from taking control of the market. As a result of this, the non-commercial net position rose to the level of 9,616 against 7,965 a week earlier. The weekly closing price was 1.3675 against 1.3676. The fact that the bulls held their positions at such a high volatility within the week, once again suggests that the pair is clearly set to overcome annual highs. I recommend betting on the pound's succeeding growth. The demand for the pound will only increase as quarantine measures are lifted, which are expected to be phased out in February this year. The support for the population and the labor market, which will be announced in March, will also have a positive effect on the pound's rate. All the talk about negative interest rates from the Bank of England was postponed indefinitely last week, which allows the pound to spread its wings. Indicator signals: Moving averages Trading is conducted above 30 and 50 moving averages, which indicates a succeeding recovery for the pair. Note: The period and prices of moving averages are considered by the author on the H1 hourly chart and differs from the general definition of the classic daily moving averages on the daily D1 chart. Bollinger Bands A breakout of the upper border of the indicator in the 1.3862 area will lead to a new wave of growth for the pound. A breakout of the lower border of the indicator around 1.3820 will increase the pressure on the pair. Description of indicators - Moving average (moving average, determines the current trend by smoothing out volatility and noise). Period 50. It is marked in yellow on the chart.
- Moving average (moving average, determines the current trend by smoothing out volatility and noise). Period 30. It is marked in green on the chart.
- MACD indicator (Moving Average Convergence/Divergence — convergence/divergence of moving averages) Quick EMA period 12. Slow EMA period to 26. SMA period 9
- Bollinger Bands (Bollinger Bands). Period 20
- Non-commercial speculative traders, such as individual traders, hedge funds, and large institutions that use the futures market for speculative purposes and meet certain requirements.
- Long non-commercial positions represent the total long open position of non-commercial traders.
- Short non-commercial positions represent the total short open position of non-commercial traders.
- Total non-commercial net position is the difference between short and long positions of non-commercial traders.
Indicator analysis. Daily review for the EUR/USD currency pair on February 11, 2021 2021-02-11 Trend analysis (Fig. 1). On Thursday, the market from the level of 1.2117 (closing of yesterday's daily candle) may continue to move up with the target of 1.2176 - the resistance level (the blue bold line). When testing this level, it is possible to continue working upwards with the target of 1.2234 - the historical resistance level (blue dotted line). 
Figure 1 (Daily Chart). Comprehensive analysis: - Indicator analysis - up
- Fibonacci levels - up
- Volumes - up
- Candlestick analysis - down
- Trend analysis - up
- Bollinger bands - up
- Weekly chart - up
General conclusion: Today, the market from the level of 1.22117 (closing of yesterday's daily candle) may continue to move up with the target of 1.2176 - the resistance level (the blue bold line). When testing this level, it is possible to continue working upwards with the target of 1.2274 - the 85.4% retracement level (yellow dotted line). Unlikely scenario: from the level of 1.2117 (closing of yesterday's daily candle), the pair may continue to move up with the target of 1.2144 - the upper fractal (daily candle from 02/10/2021). When testing this level, it is possible to work downwards with a target of 1.2063 - the 38.2% retracement level (red dotted line). Technical Analysis of EUR/USD for February 11, 2021 2021-02-11 Technical Market Outlook: The EUR/USD pair has been seen consolidating the recent gains in a narrow zone located between the levels of 1.2113 - 1.2139. The bulls has broken above the short-term trend line resistance and the next target for bulls is the supply zone located between the levels of 1.2154 - 1.2178. The intraday technical support is located at 1.2088 level now. Please notice, the momentum on the H4 time frame chart is strong and positive, but the market in now in overbought levels, which support the short-term bullish outlook for this pair. Weekly Pivot Points: WR3 - 1.2314 WR2 - 1.2227 WR1 - 1.2130 Weekly Pivot - 1.2038 WS1 - 1.1949 WS2 - 1.1857 WS3 - 1.1765 Trading Recommendations: Since the middle of March 2020 the main trend is on EUR/USD pair has been up. This means any local corrections should be used to buy the dips until the key technical support seen at the level of 1.1609 is broken. The key long-term technical resistance is seen at the level of 1.2555. Any violation of the level of 1.2154 supports the trend change/corrective cycle scenario. 
Technical Analysis of GBP/USD for February 11, 2021 2021-02-11 Technical Market Outlook: The GBP/USD pair has made a new swing high at the level of 1.3865 and keeps going up. The price is bouncing from the short-term trend line support (marked orange on the chart). The momentum on the H4 time frame chart is strong and positive, but the market conditions had hit the extremely overbought levels already, so some kind of consolidation or pull-back is welcome. Please notice, that only a sustained breakout above the level of 1.3779 would open the road towards the next target seen at the level of 1.3889, so the bulls can't stop at the current market levels. The level of 1.3757 and 1.3739 will now act as an intraday technical support. There is no indication of the trend reversal so far. Weekly Pivot Points: WR3 - 1.4004 WR2 - 1.3871 WR1 - 1.3816 Weekly Pivot - 1.3685 WS1 - 1.3620 WS2 - 1.3497 WS3 - 1.3434 Trading Recommendations: The GBP/USD pair keeps developing the up trend and the trigger for this trend was the breakout above the level or 1.3518 on the weekly time frame chart. The recent top was made at the level of 1.3756 and this was the higher close in over two years. All the local corrections should be used to open a buy orders as long as the level of 1.2674 is not broken. The long-term target for bulls is seen at the level of 1.4370. 
Trading plan for EUR/USD on February 11 2021-02-11  Global incidence continues to decrease, thereby confirming the idea that the second pandemic wave is ending. In fact, the number of new cases in both US and Europe has decreased significantly, dropping to much lower figures than the recorded peaks.
As for vaccination, its pace has started to speed up, albeit little by little. 
EUR/USD: euro met resistance around 1.2150. Open long positions from 1.2160. Open short positions from 1.2060 to 1.2010. Indicator analysis. Daily review for the GBP/USD currency pair on February 11, 2021 2021-02-11 Yesterday, the pair moved up and almost tested the upper limit of the Bollinger line indicator 1.3870 (black dotted line). After that, it went down and closed the daily candle at 1.3831. Today, the price may continue to work up. As per the economic calendar, news for the dollar is expected at 13.30, 16.00, 19.00 UTC. Trend analysis (Fig. 1). On Thursday, the market from the level of 1.3831 (closing of yesterday's daily candle) may continue to move up with the target of 1.3902 - the upper limit of the Bollinger line indicator (black dotted line). When testing this line, it is possible to continue working up with a target of 1.3944 - the 85.4% retracement level (yellow dotted line). 
Figure 1 (Daily Chart). Comprehensive analysis: - Indicator analysis - up
- Fibonacci levels - up
- Volumes - up
- Candlestick analysis - down
- Trend analysis - up
- Bollinger bands - up
- Weekly chart - up
General conclusion: Today, the price from the level of 1.3831 (the closing of yesterday's daily candle) can continue to move up with the target of 1.3902 - the upper limit of the Bollinger line indicator (black dotted line). When testing this line, it is possible to continue working up, with a target of 1.3944 - the 85.4% retracement level (yellow dotted line). Unlikely scenario: from the level of 1.3931 (closing of yesterday's daily candle), the price may continue to move up with the target of 1.3865 - the upper fractal (daily candle from 02/10/2021). When testing this level, it is possible to work downwards, with a target of 1.3738 -13 average EMA (yellow thin line). Trading recommendations for starters of EUR/USD and GBP/USD on February 11, 2021 2021-02-11 The market did not show enough activity yesterday, which led to only one thing – stagnation. The economic calendar included the final data on US inflation, where the forecasted growth was from 1.4% to 1.5%. However, the data was revised downward by 1.4% ---> 1.3% in the end, but the final inflation rate still came out at 1.4%. To put it simply, nothing happened, so the market remained in place. What happened on the trading chart? The EUR/USD pair found a resistance at 1.2130/1.2150 after sharply rising from the pivot point of 1.1950. It was followed by a slowdown and eventually, a stagnation at 1.2112/1.2144. The stop of the upward movement is a positive signal for the resumption of the main corrective movement from the high of the medium-term trend, but such a narrow amplitude lasting more than a day can lead to a cumulative effect and local acceleration in the market. The GBP/USD pair continues to update the high of the mid-term trend, where the quote managed to reach the coordinates of 1.3865 this time, without affecting the upward interest. It can be recalled that the pound has a very high level of overbought. Thus, a small impact on the market is enough for a technical correction to occur, but speculators controls the market, which leads to unjustified growth. 
Trading recommendations on EUR/USD and GBP/USD for February 11, 2021 The weekly data on claims for unemployment benefits in the US, whose volume will likely decline, are expected to be published today. - Volume of initial applications for benefits may decline from 779 thousand to 757 thousand.
- Volume of repeated applications for benefits may decline from 4,592 thousand to 4,490 thousand.
USA 13:30 Universal time - Applications for benefits Analyzing the current trading chart of EUR/USD, the quote is seen still moving within the narrow range of 1.2112/1.2144, as if preparing market participants for new price surges. In this case, the primary trading tactics are considered to be the method of breaking through a particular border of the range and local impulse. - Buy a pair is recommended if the price is kept above the level of 1.2155, with the prospect of moving to 1.2185. - Selling a pair is recommended if the price is kept below the level of 1.2110, with the prospect of moving to 1.2090-1.2070. 
As for the current trading chart of the GBP/USD, one can see that the quote is still at the high of the mid-term trend. The breakdown of the current high will push the pound further upwards, namely to the range of 1.2900-1.2950. When buying, it is suggested to get ready in changing the position rapidly if a technical correction occurs. 
Technical analysis of GOLD for February 11, 2021 2021-02-11 
Hello, dear traders! Here is my trading recommendation on gold. Yesterday, the greenback strengthened at the end of the North American session after the release of the inflation report in the United States. At the same time, buyers are now trapped above the 1831 level after a three-day gold rally. 
Thus, we have a tree-wave structure - ABC. In this case, Wave A indicates yesterday's bearish activity during the North American session. One should consider entering short after a pullback form 1844 - the 50% Fibo retracement level. A Stop Loss and a Take Profit should be placed at 1854 and 1831. The trading recommendation is based on the strategies Price Action and Stop Hunting. Have a nice trading day!
Author's today's articles: Grigory Sokolov  Born 1 January, 1986. In 2008 graduated from Kiev Institute of Business and Technology with "Finance and Credit" as a major. Since 2008 has studied the behavior of various currency pairs and their correlation on Forex. In his works and trading practice he uses candlestick analysis and Fibonacci technique. Since 2009 has written analytical reviews and articles which are published on popular Internet resources. Interests: music, computers and cookery. "Out of five deadly sins of business and as a rule, the most widespread, excessive striving to get profit is the worst". P. Drucker Maxim Magdalinin  In 2005 graduated from the Academy of the Ministry of Internal Affairs of the Republic of Belarus, law faculty. Worked as a lawyer for three years in one of the biggest country's company. Besides the trading, he develops trading systems, writes articles and analytical reviews. Works at stock and commodity markets explorations. On Forex since 2006. Sergey Belyaev  Born December 1, 1955. In 1993 graduated from Air Force Engineering Academy. In September 1999 started to study Forex markets. Since 2002 has been reading lectures on the technical analysis . Is fond of research work. Created a personal trading system based on the indicator analysis. Authored the book on technical analysis "Calculation of the next candlestick". At present the next book is being prepared for publishing "Indicator Analysis of Forex Market. Trading System Encyclopedia". Has created eleven courses on indicator analysis. Uses classical indicators. Works as a public lecturer. Held numerous seminars and workshops presented at international exhibitions of financial markets industry. Is known as one of the best specialists in the Russian Federation researching indicator analysis. Sebastian Seliga  Sebastian Seliga was born on 13th Oсtober 1978 in Poland. He graduated in 2005 with MA in Social Psychology. He has worked for leading financial companies in Poland where he actively traded on NYSE, AMEX and NASDAQ exchanges. Sebastian started Forex trading in 2009 and mastered Elliott Wave Principle approach to the markets by developing and implementing his own trading strategies of Forex analysis. Since 2012, he has been writing analitical reviews based on EWP for blogs and for Forex websites and forums. He has developed several on-line projects devoted to Forex trading and investments. He is interested in slow cooking, stand-up comedy, guitar playing, reading and swimming. "Every battle is won before it is ever fought", Sun Tzu Mihail Makarov  - Vladislav Tukhmenev  Vladislav graduated from Moscow State University of Technologiy and Management. He entered the forex market in early 2008. Vladislav is a professional trader, analyst, and manager. He applies a whole gamut of analysis – technical, graphical, mathematical, fundamental, and candlestick analysis. Moreover, he forecasts the market movements using his own methods based on the chaos theory. Vladimir took part in development of trading systems devoted to fractal analysis. In his free time, Vladimir blogs about exchange markets. Hobbies: active leisure, sporting shooting, cars, design, and marketing. "I do not dream only of becoming the best in my field. I also dream about those who I will take with me along the way up." Andrey Shevchenko  Andrey Shevchenko
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Fundamental analysis, Fractal analysis, Wave analysis, Technical analysis, Stock Markets
Author's :
A Zotova, Aleksey Almazov, Alexander Dneprovskiy, Alexandr Davidov, Alexandros Yfantis, Andrey Shevchenko, Arief Makmur, Dean Leo, Evgeny Klimov, Fedor Pavlov, Grigory Sokolov, I Belozerov, Igor Kovalyov, Irina Manzenko, Ivan Aleksandrov, l Kolesnikova, Maxim Magdalinin, Mihail Makarov, Mohamed Samy, Mourad El Keddani, Oleg Khmelevskiy, Oscar Ton, Pavel Vlasov, Petar Jacimovic, R Agafonov, S Doronina, Sebastian Seliga, Sergey Belyaev, Sergey Mityukov, Stanislav Polyanskiy, T Strelkova, Torben Melsted, V Isakov, Viktor Vasilevsky, Vladislav Tukhmenev, Vyacheslav Ognev, Yuriy Zaycev, Zhizhko Nadezhda
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