FX Signals News Forecast 02 03 2021

FX Signals News Forecast 02 03 2021 live Commentary from FxPremiere Team Analyst Sato

XAUUSD Forecast 02 03 2021

The GOLD price dropped a little more and is now in a strong support zone at position 1716.93. This zone is formed by two lines. The first one appeared in August 2020, the second stronger one – in July 2016

Now the main question for all investors is when exactly gold will stop and begin to grow.

I think this support zone is the perfect starting point for growth. I expect the price to bounce off it and rise towards the resistance zone . So my final target is the 1800.37 resistance zone .

EURUSD Forecast 02 03 2021

At the moment, the price of the pair is standing still and I am extending my previous forecast. Let me remind you that after the price fell from a strong resistance zone , it stopped at the support level of 1.202. From this position yesterday, I expected a fall to the support of 1.196 and after that a new growth began. I am extending my forecast and also expect the price to rise from the lower border of the channel to the upper one . Thus, my final target is the resistance line at 1.262

USDCHF Forecast 02 03 2021

During the growth in an uptrend, which originates in December 2020, the price broke through the support zone of 0.904 and then came to the resistance zone . This zone consists of the resistance line of December 2020 and the strong level of 0.918. The price is on the line right now, but I expect it to rise a little more and be able to break it. After that, it touches the level and already from it will unfold in the fall. The price breaks the line again this time during the fall and then drops to the support zone . Thus, my final target is the 0.904 support zone .

EURGBP Forecast 02 03 2021

At the end of February, the price of this currency pair dropped to the strong support zone of 0.859. In this zone, the level of support intersects as well as the senior strong line of July 2015. This zone stopped the prolonged fall in prices and turned it towards growth. However, after the growth spurt, the price returned to the zone again. I consider this movement as a correction and now I expect that the first thing the price will touch the support zone again. And then it will rise to the resistance line 0.871. This will be our goal.

EURCAD Forecast 02 03 2021

This currency pair is also moving in a very strong downtrend channel that formed on the chart back in the summer of 2020. And in this channel there was only one significant breakdown of the resistance line. However, the support line is very strong. The price broke through the senior resistance line 1.545 long ago. She appeared in 2012. Then it dropped to support 1.521, fixed on it and now I expect growth. So my final target is the 1.548 resistance zone .

AUDUSD Forecast 02 03 2021

Last week the price touched the resistance line 0.7989 and after that it collapsed.
During the growth, it managed to break through the resistance line 0.784 and the level 0.777
after which it still stopped at the strong support line 0.771. This support line, like the rest of the lines on the chart, has existed on the chart since spring 2020. Therefore, it is not surprising that the price returned from it to the support level of 0.775.

After such a sharp drop, there will definitely be a corrective growth and I expect the price to rise to the resistance line of 0.787.

FX Signals News Forecast 02 03 2021

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