empty
29.02.2024 08:57 AM
Trading plan for EUR/USD and GBP/USD on February 29

Market dynamics remained the same despite the high volatility at the beginning of the week. Although dollar fell in price in the morning, it returned to its previous values by afternoon, largely due to the empty macroeconomic calendar. The second estimate of the 4th quarter US GDP also coincided with the first, which does not stimulate market sentiment.

The stagnation may continue today, as the upcoming jobless claims data will not have any impact on the market. After all, the total number will likely increase by only 12,000, while repeated claims will rise by 3,000.

This image is no longer relevant

EUR/USD fell to the level of 1.0800 after a rise in the volume of long positions. This led to a rebound, which almost restored previously lost positions. However, nothing significant happened on the chart.

This image is no longer relevant

GBP/USD shows a similar dynamic. Initially, a surge in short positions occurred, followed by a rebound. In this situation, the level 1.2700 serves as resistance, while the level 1.2600 serves as the support.

Mark Bom,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Alexandr Davidov
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

How to Trade the GBP/USD Pair on August 15? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of GBP/USD The GBP/USD pair also corrected slightly lower on Thursday amid the high PPI reading. As we have already mentioned, even such

Paolo Greco 06:13 2025-08-15 UTC+2

How to Trade the EUR/USD Pair on August 15? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of EUR/USD On Thursday, the EUR/USD currency pair traded lower. Four macroeconomic reports were published during the day, three of which had no impact

Paolo Greco 06:13 2025-08-15 UTC+2

Trading Recommendations and Trade Breakdown for GBP/USD on August 15: The Pound Pulled Back Slightly

On Thursday, the GBP/USD currency pair also traded lower, with the U.S. Producer Price Index being the main driver. Initially, we assumed that this indicator was unlikely to provoke

Paolo Greco 03:50 2025-08-15 UTC+2

Trading Recommendations and Trade Breakdown for EUR/USD on August 15: Inflation Sank the Dollar, Inflation Also Lent a Hand

On Thursday, the EUR/USD currency pair showed a decent decline, which fully aligns with the current technical picture. It should be noted that an uptrend does not mean the price

Paolo Greco 03:50 2025-08-15 UTC+2

How to Trade the GBP/USD Pair on August 14? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of GBP/USD The GBP/USD pair also continued moving north on Wednesday, although there were no local reasons for this. Nevertheless, the British pound keeps

Paolo Greco 06:49 2025-08-14 UTC+2

How to Trade the EUR/USD Pair on August 14? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair continued its upward movement. It was not a strong rise, but it was upward, in line

Paolo Greco 06:49 2025-08-14 UTC+2

Trading Recommendations and Trade Breakdown for GBP/USD on August 14: The Pound Surprises for the Second Day

On Wednesday, the GBP/USD currency pair continued its upward movement, despite the absence of significant reports, news from Donald Trump, and fundamental events during the day. Once again, we draw

Paolo Greco 03:52 2025-08-14 UTC+2

Trading Recommendations and Trade Breakdown for EUR/USD on August 14: Inflation Continues to Pressure the Dollar

On Wednesday, the EUR/USD currency pair continued its upward movement, despite the absence of any important events or reports during the day. However, the broader fundamental backdrop — driven

Paolo Greco 03:52 2025-08-14 UTC+2

How to Trade the GBP/USD Pair on August 13? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of GBP/USD The GBP/USD pair also showed a relatively strong upward move, but unlike EUR/USD, it began rising from early morning. Data from

Paolo Greco 06:44 2025-08-13 UTC+2

How to Trade the EUR/USD Pair on August 13? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of EUR/USD On Tuesday, the EUR/USD currency pair traded higher for a completely logical reason. The US Consumer Price Index showed a very unexpected

Paolo Greco 06:44 2025-08-13 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.