Weekly Market Preview: GameStop, US Bonds, EUR/USD | 01.02.2021

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In today’s weekly market preview we’ll have a closer look at how major currencies are likely to be moving throughout the week ahead. And stay tuned for our exclusive trading tips and forex weekly strategy suggestions.

EURUSD is still consolidating around 1.2155. Possibly, today the pair may expand the range up to 1.2162 and then fall with the target at 1.2044. Later, the market may start a new growth to break 1.2160 and then continue trading upwards to reach 1.2284.

For US dollar index trading, forex investors should prepare for a more possible declines this week. The dollar is losing its positions against a basket of currencies, including GBP and EUR. In both cases we see these forex pairs consolidating before steadily moving to the upside.

The only major currency the dollar seems to be doing well against in the forex weekly analysis so far appears to be the Russian ruble. Although analysts do see the possibility of a break to the downside, in which case USD/RUB may hop on the bandwagon of other major pairs and decline to 75.00 and possibly even 73.00.

Do you agree with this market weekly forecast? Use the comments and share how your’re trading the dollar index and what your forex weekly outlook is!

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