The analysis and trends of major currency pairs depend on various factors, such as economic indicators, geopolitical events, and market sentiment. Here are some of the major currency pairs and their recent analysis and trends:
EUR/USD: The EUR/USD is the most widely traded currency pair in the forex market. Recently, the pair has been range-bound between 1.17 and 1.22. The recent economic data from the Eurozone has been mixed, with concerns over the impact of COVID-19 on the economy. The US Federal Reserve's announcement of tapering its bond-buying program has strengthened the US dollar against the euro.
USD/JPY: The USD/JPY pair has been range-bound between 109 and 111. The recent data from Japan shows that the economy is recovering, with better-than-expected GDP growth and industrial production. However, the Bank of Japan has maintained its monetary policy, keeping the yen weak.
GBP/USD: The GBP/USD pair has been volatile, mainly due to the ongoing Brexit negotiations. Recently, the pair has been trading around the 1.37 level. The UK's economic data has been mixed, with concerns over the impact of the COVID-19 pandemic and inflationary pressures. The Bank of England's monetary policy has remained dovish, keeping the pound weak.
USD/CAD: The USD/CAD pair has been trading in a range between 1.23 and 1.28. The recent economic data from Canada shows that the economy is recovering, with better-than-expected GDP growth and employment data. The Bank of Canada has started tapering its bond-buying program, which has supported the Canadian dollar against the US dollar.
AUD/USD: The AUD/USD pair has been range-bound between 0.73 and 0.78. The recent economic data from Australia has been mixed, with concerns over the impact of the COVID-19 pandemic and geopolitical tensions with China. The Reserve Bank of Australia has maintained its monetary policy, which has kept the Australian dollar weak against the US dollar.
In general, the recent trends in major currency pairs are influenced by various factors, including economic indicators, geopolitical events, and central bank policies. Traders can use technical and fundamental analysis to identify potential trading opportunities based on these factors. However, it is important to keep in mind that the forex market is highly unpredictable, and trends can change quickly based on new information and events.
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