EUR/USD

The bears point by point have reached the target for a breakthrough of the daily cloud (1.1762, 100% level), reinforced by the monthly short-term trend (1.1766). After that, they took a break, which resulted in a daily rebound from the supports they met. We close the month next week, the result will be important, enabling us to make assumptions about the prospects and opportunities of the highest timeframe. If the bears manage to overcome the support they met, then the benchmarks for continuing the decline in the current situation will be 1.1695 (monthly Fibo Kijun) and 1.1611-1.1591 (the upper limits of the monthly and weekly clouds). The deceleration triggered by the development of significant target levels can cause a full-fledged upward correction. Resistance on this path will be provided by the levels of the daily dead cross and the levels of the weekly Ichimoku cross, passed the day before. Their current position can be indicated by 1.1875-86 (daily Tenkan + weekly Fibo Kijun) and 1.1946-1.2003 (daily Kijun and Fibo Kijun + weekly Tenkan and Kijun).

***

GBP/USD

The support of the weekly Fibo Kijun (1.3672) was tested last week, after which the pound went into a corrective rise, forming a rebound from the weekly support it encountered during the weeks. The depth of the weekly downward correction is significant, so ending it is quite a difficult task. To implement it, the bulls need to return to the weekly short-term trend (now it is 1.3902), eliminate the daily dead cross, the levels of which at the moment form a fairly wide resistance zone (1.3835-1.3887-1.3954-1.4022), then go beyond the monthly cloud (in March it is 1.4118, it will be 1.4003 in April) and update the extreme high (1.4240). As a result of this abundance of resistances, there will be plenty of opportunities for short-term players to complete the rally and the current pause. The benchmarks for continuing the decline after the breakthrough of 1.3672 (weekly Fibo Kijun) are the exit from the daily cloud (1.3584) and forming a target for the breakthrough of the cloud, then testing the strength of the weekly medium-term trend (1.3495), according to the results of which the bears can set plans to execute the decline to the monthly short-term trend (1.3299) and to the final level of the weekly golden cross (1.3319).

***

In the technical analysis of the situation, the following are used:

Higher timeframes - Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels

H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)