Start the week of February 21, 2022 with our Forex forecast focusing on major currency pairs here. forextrading
The euro went back and forth last week, which is not a huge surprise considering that we have been moving on the latest rumors or blurbs from the Ukrainian frontier. Ultimately, this is a market that looks as if it is trying to form some type of trading range that we can get involved in, with the 1.15 level above offering obvious resistance, and the 1.12 level underneath being an area of support.
Keep in mind that depending on whether the news is good or bad, that will either lift or sink this market. The tensions calming down in Ukraine would of course help this market, but I do not know how much further we can go to the upside due to the fact thatThe British pound continues to be very noisy against the Japanese yen as we also have a lot of concerns when it comes to geopolitics, and that makes a huge impact on what we have going on here. The British pound rallying will be a sign of “risk on”, while the Japanese yen is a safety currency.
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