| Technical analysis of GBP/USD for February 10, 2021 2021-02-10  Overview : The GBP/USD pair broke resistance at 1.3744 which turned into strong support yesterday. This level coincides with 61.8% of Fibonacci retracement which is expected to act as major support today. Equally important, the RSI is still signaling that the trend is upward, while the moving average (100) is headed to the upside. Accordingly, the bullish outlook remains the same as long as the EMA 100 is pointing to the uptrend. This suggests that the pair will probably go above the daily pivot point (1.3744) in the coming hours. The GBP/USD pair will demonstrate strength following a breakout of the high at 1.3855. Consequently, the market is likely to show signs of a bullish trend. In other words, buy orders are recommended above 1.3855 with the first target at 1.3900. Then, the pair is likely to begin an ascending movement to 1.3900 mark and further to 1.3930 levels. The level of 1.3930 will act as strong resistance, and the double top is already set at 1.3855. On the other hand, the daily strong support is seen at 1.3744. If the GBP/USD pair is able to break out the level of 1.3744, the market will decline further to 1.3565 (double bottom). Trading plan for EUR/USD for February 10, 2021 2021-02-10 
Technical outlook: EURUSD might be close to terminating its counter-trend rally, which began from the 1.1950 level last Friday. It has either found resistance at 1.2144 today or might extend through the 1.2200/30 levels in the next few trading sessions. The EUR/USD pair is seen to be trading around the 1.2125 level at this point in writing and might be preparing to resume lower from here. Immediate resistance stays at 1.2190, followed by 1.2350, while support is seen at the 1.1950 level respectively. The short term wave structure suggests that EUR/USD has carved a bearish boundary between 1.2350 and 1.1950 and is retracing for now. The Fibonacci 0.618 retracements of entire drop is seen towards the 1.2200 mark. A strong bearish reaction can be expected if prices manage to reach there. Thereafter, the bearish drop is expected to reach up to the 1.1600 level over the next several weeks. The larger wave structure also indicates that EUR/USD might have completed its uptrend that had begun since the 1.0636 low in March 2020. Probability remains for a push through the 1.1200/1.1300 levels. Trading plan: Remain short, add more @ 1.2200, stop @ 1.2450, target is @ 1.1600 at least. Good luck! EUR/USD analysis for February 10 2021 - Potential completion of the upside corretio and downside continuation towards 1.2000 2021-02-10 US MBA mortgage applications w.e. 5 February -4.1% vs +8.1% prior Prior +8.1% - Market index 940.4 vs 981.1 prior
- Purchase index 318.8 vs 334.6 prior
- Refinancing index 4,549.2 vs 4,746.2 prior
- 30-year mortgage rate 2.96% vs 2.92% prior
The drop stems from a decline in both purchasing and refinancing activity, with the long-term mortgage rate creeping higher amid the push higher in yields as well. That said, this is just one slight bump in housing market conditions after mo Further Development 
Analyzing the current trading chart of EUR/USD, I found that the buyers got exhausted today and the downside roattion would be probably to correct strong upside movement from recent few days. Watch for selling opportunities with the downside targets at 1,2090, 1,2055 and 1,022. Based on the 4H time-frame I found that slope pattern, which is another sign that there is potential drop on the EUR. Key Levels: Resistance: 1,2140 Support levels: ,2090, 1,2055 and 1,022. Analysis of Gold for February 10,.2021 - Broken upside chnanel and potential for drop towards $1.785 2021-02-10 ECB's de Cos: ECB prepared to adjust all instruments as needed to reach inflation target Comments by ECB policymaker, Pablo Hernandez de Cos - Euro area economic recovery is fragile, faces downside risks
- This is due to uncertainty surrounding evolution of the pandemic
- Ample monetary stimulus continues to be essential
This isn't anything out of the ordinary but at least there's no specific mention of the euro exchange rate in the latest bunch of remarks here, so there's that. Further Development 
Analyzing the current trading chart of Gold, I found that there is the breakout of the well developed upside channel, which is sign that sellers are taking control over buyers. Watch for selling opportunities with the downside target at $1,785 Stochastic oscillator showing overbought condition and the bearish divergence, which is another sign for further downside movement. Key Levels: Resistance: $1,845 Support level: $1,785
Author's today's articles: Mourad El Keddani  Was born in Oujda, Morocco. Currently lives in Belgium. In 2003 obtained B.S. in Experimental Sciences. In 2007 obtained a graduate diploma at Institut Marocain Specialise en Informatique Applique (IMSIA), specialty – Software Engineering Analyst. In 2007–2009 worked as teacher of computer services and trainer in a professional school specializing in computer technologies and accounting. In 2005 started Forex trading. Authored articles and analytical reviews on Forex market on Forex websites and forums. Since 2008 performs Forex market research, and develops and implements his own trading strategies of Forex analysis (especially in Forex Research & Analysis, Currency Forecast, and Recommendations and Analysis) that lies in: Numerical analysis: Probabilities, equations and techniques of applying Fibonacci levels. Classical analysis: Breakout strategy and trend indicators. Uses obtained skills to manage traders' accounts since 2009. In April 2009 was certified Financial Technician by the International Federation of Technical Analysts. Winner of several social work awards: Education Literacy and Non-Formal Education (in Literacy and Adult Education in The National Initiative for Human Development).
Languages: Arabic, English, French and Dutch.
Interests: Algorithm, Graphics, Social work, Psychology and Philosophy. Oscar Ton  Petar Jacimovic  Petar was born on July 08, 1989 in Serbia. Graduated from Economy University and after has worked as a currency analyst for large private investors. Petar has been involved in the world of finance since 2007. In this trading he specializes in Volume Price Action (volume background, multi Fibonacci zones, trend channels, supply and demand). He also writes the market analytical reviews for Forex forums and websites. Moreover Petar is forex teacher and has wide experience in tutoring and conducting webinars. Interests : finance, travelling, sports, music "The key to success is hard work"
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