With its 206 million daily active users globally, Twitter is one of the most popular social networks in the world. Therefore, it comes as no surprise that many content creators turn to Twitter for growing a following and monetizing it. Moreover, given the properties of twitter, it attracts people interested in trading and investments, making it one of the best platforms for affiliates who want to leverage their content and promotional link. Having said that, growing on Twitter is not going to happen overnight but there are time-tested strategies and tips that can help build up a following quickly. Such a process is the core of this article. We will learn how to grow an audience on Twitter and how to monetize it with affiliate campaigns. Before outlining the strategy to foster growth on Twitter, it is fundamental to look at how it works. The very nature of Twitter is to share breaking news or up-to-date information. Therefore, users (and the algorithm behind the scene) expects those kinds of content. In addition, and this is the unique feature of Twitter, there is a limit of 280 characters per tweet. However, tweets offer a lot of freedom to content creators as they support images, GIFs and Video. Additionally, it is possible to share links that transfer users outside of the platform, an incomparable advantage to affiliates. Given this structure, to start off your journey on Twitter you want to keep in mind these points: First and foremost, you have to decide what your content will be about. Then, as your content has to be engaging and valuable, you need to know that industry well. Therefore, be specific and pick a niche that you are passionate about. Regardless of the “niche” you selected, ensure to share high quality content. In fact, to grow a following you need to first attract and then retain users. This is possible only by posting highly quality content over and over again. Of course, you don’t want to overthink anything you tweet. However, avoid to tweet for the sake of tweeting. You can create the best content in the world, but if you do not format it properly, it will pass unnoticed. Therefore, format your tweets so they grab attention. A common structure goes as follow:   If you have long content to share, you can use a thread: a set of nested tweets. In that case, the first tweet will be the most important as it is supposed to grab attention and the successive will have to maintain the user engaged. Hence, before posting, put yourself in the reader's shoes and see if your tweet flows. Then, tweet it. As much as you want to grow on Twitter, consistency is key. You can post the best content in the world, but if you do it for just one week, you won’t go far. Instead, approach it as a journey and strategize your effort so that it can be sustainable in the long run. Consider it a marathon, not a sprint. Compared to other social media, Twitter still offers the possibility to grow organically. Hashtags are a fantastic tool to leverage your growth by getting your content spreading around the platforms. Additionally, you can use a strategy called “hashtag hijacking”. Any time a hashtag is trending, you can create an engaging tweet featuring that hashtag. Of course, the tweet has to be coherent with your industry and the trending hashtag. Don’t just insert trending hashtags randomly in your tweets. When done appropriately, this strategy will give your profile a massive exposure. For free. Interacting in your niche is the secret sauce of any growth strategy for social media. It works fantastically on Twitter. In fact, Twitter often shows to users what the profiles they are following like, answer or retweet. Therefore, interacting with your industry “colleagues” will foster interactions thus bringing you in front of your targeted audience and give you wider exposure. Similarly, when your followers start to interact with you, don’t let them unanswered. Engage with them and create a relationship. This will pay massively in the long run. If a random tweet is the first impression, your profile is the second impression. Therefore, be sure to customize your profile with a coherent profile picture as well as a powerful description that gives you authority and hints at the benefits of following you. To further boost your growth, let the world know you have a Twitter profile and why they should follow you. Feature your profile on your website and on your other social media, asking your followers to follow you on Twitter as well. Do not underestimate cross-platform followers. We can finally understand the pillars of a growth strategy for Twitter. However, once you have a following, it's important to monetize it. How can you do it on Twitter? Which strategies work best for affiliates? Twitter offers multiple ways to drive your following to your affiliate campaigns as it allows external links. The first place to insert a link is your profile. Here you can direct users to your website where you can capture their emails or redirect them to the brokers you are affiliated with. However, the best place for leveraging your affiliate links are your fresh tweets. The link you insert has to be always coherent with your tweets. For example, if you share a chart on why $AAPL is going to rise soon, you might also claim that you are trading it on EagleFX. Then, you can disclose that you have an affiliate link and redirect your following to the broker. Last, the “Ace up your Sleeve” of your twitter strategy is the pinned tweet. This tweet stands at the top of your profile and has to be used for promoting your profile and convincing new users to follow you. However, nothing prevents you from adding your affiliate link disclosing where you place your trades. Consequently, as your following grows so will the users who can sign up with your link. Twitter is a fantastic place for affiliates who want to grow an audience interested in trading. However, building your following will take time and consistency but the rewards will be high. The most important thing thus is to approach it in a sustainable manner and be consistent with your content creation. Additionally, with the EagleFX Commission Scheme you don’t need millions of followers to be profitable. A few hundreds of followers can become a solid source of earning. Contact your Affiliate Manager today to learn more.

  The AUD/USD failed to stop its previous session losing streak and dropped below 0.7300 level due to the broad-based U.S. dollar strength, buoyed by the Tuesday's better-than-expected U.S. manufacturing data. Also weighing on the currency pair was the downbeat data from Australia and China. On the contrary, the market risk-on sentiment, supported by the vaccine hopes and hopes of further U.S. stimulus, becomes the key factor that helped the currency pair limit its deeper losses. At the press time, the AUD/USD is currently trading at 0.7302 and consolidating between 0.7297 and 0.7340. Moving on, the currency pair may find some support as the ongoing rally in the U.S. dollar seems to be short-lived as the doubts remain about the U.S. economic recovery amid the weaker than expected ADP report. Australia's July month Trade Balance registered another fundamental disappointment for the Australian policymakers. Australia's July month Trade Balance dropped below 5400M flash forecasts and 8202M prior to the data front. Details suggest that the Imports increased past-1.0% to 7.0% while Exports fell to -4.0% from +3.0% prior. Across the ocean, China's Caixin Services PMI rose to 54.00 versus 50.4 expected and 54.1 before August. The same push the composite PMI data to 55.1 versus 54.5 prior. As a result of mixed data from the Aussie and China, the AUD/USD currency pair extends its bearish trajectory for the 3rd-day in a row. However, the reason for the risk-on market sentiment could be associated with the probabilities of further stimulus and hopes of the coronavirus (COVID-19) vaccine, which tends to underpin the perceived risk currency Australian dollar and helps the pair to limit its deeper losses. It is worth reporting that the AstraZeneca continues its final tests for the coronavirus vaccine. Meanwhile, around 76 rich countries, the global policymakers join to help for the vaccine developments and distribution. On the contrary, the two biggest economies are at loggerheads after the latest headlines concerning additional sanctions on China diplomats by the U.S. Also fueling the tussle could be the reports suggests Beijing's embassy in America criticized harshly by the U.S. However, these gloomy headlines could also be considered as the key factor that has been weighed on the Aussi pair. Despite the risk-on market sentiment and downbeat U.S. data, the broad-based U.S. dollar flashing green on the day supported by Tuesday better-than-expected PMI data, which fueled the hopes of the U.S. economy. However, the U.S. dollar's bullish bias could be short-lived as doubts remain about the U.S. economic recovery amid Wednesday weaker than expected ADP report. However, the gains in the U.S. dollar became the key factor that kept the currency pair lower. Whereas, the U.S. Dollar Index that measures the greenback against a bucket of 6-major currencies rose by 0.03% to 92.977. Looking ahead, the market traders will keep their eyes on final German and Eurozone PMI readings, which is scheduled for release on the day. As well as, the Friday's Nonfarm Payrolls (NFP) will also be key to watch. In the meantime, the updates surrounding the fresh Sino-US tussle, this time over the South China Sea, and the coronavirus (COVID-19) updates, could not lose their importance. The AUD/USD is trading at 0.7317, having violated the double bottom support level of 0.7337 level. Closing of candles below this level may drive sharp selling until 0.7289 and even below this until 0.7275. Conversely, a bullish crossover of 0.7369 may drive intense buying until the 0.7385 level. Bearish bias may dominate today. Entry Price – Sell 0.7296 Stop Loss – 0.7336 Take Profit – 0.7256 Risk to Reward – 1:1 Profit & Loss Per Standard Lot = -$400/ +$400 Profit & Loss Per Micro Lot = -$40/ +$40 Fellas, now you can check out forex trading signals via Forex Academy mobile app. Follow the links below. iPhone Users: https://apps.apple.com/es/app/fasignals/id1521281368 Andriod Users: https://play.google.com/store/apps/details?id=academy.forex.thesignal&hl=enUS

The EUR/JPY currency pair is tossing in between profit and losses on Friday within a trading range of 115.450 - 116.410. Bullish crossover of 116.410 may lead the EUR/JPY pair towards 116.880 today. The demand for safe-haven assets such as JPY increased after Trump said that he was prepared to end its ties with China as anger for coronavirus spread and its impact on economies has raised. The U.S. has been accusing China of global virus spread and wanted to punish it, but it has not yet made a formal announcement. The U.S. administration has been suggesting many ideas about punishing China over the global spread of the virus due to its negligence. On Thursday, Trump said that he was very disappointed in China and could cut off its relationship with China. He added that it would benefit the U.S. economy at $500 Billion, so he was considering it. Sino-US relations have been under dispute for over 1.5 years due to trade-war. The Phase-one deal was signed between these two nations in order to make their relationship better in December. According to the signed agreement, China would buy $200 worth of U.S. farm products, and the U.S. would roll back tariffs in stages on Chinese goods. Lately, reports were coming about the Chinese advisors to cancel the phase-one deal and start renegotiation, which would be tilted towards China's side this time. Trump has already announced that he would not go for renegotiation this time. 115.48 116.13 115.07 116.37 114.83 116.79 Pivot Point 115.72 The traders seem to do profit-taking in Japanese yen ahead of the weekend, which is why the EUR/JPY pair is signaling upward movement. The pair may find an immediate resistance around 116.035 ane bullish breakout of this level may extend buying trend until 116.850, while violation of this 116.850 resistance can lead EUR/JPY prices towards 117.900. Conversely, the support holds around 115.470, below which the EUR/JPY may drop until 114.470. Let's wait for the breakout before placing a trade.

The AUD/USD pair was closed at 0.64611 after placing a high of 0.64687 and a low of 0.64032. Overall the movement of pair remained bullish throughout the day. The AUD/USD pair fell in the beginning sessions but started to post gains after falling for the previous three days and ended its day with a bullish candle. At 6:30 GMT, the Employment Change from Australia showed a decline of 594.3K against the expected reduction of 575.0K. The increased number of jobless people during April from Australia weighed on Aussie on Thursday. The Unemployment Rate from Australia came in as 6.2%against the expectations of 8.3% and supported Aussie. Aussie fell in early sessions on the back of an increased number of jobless people during previous months. But in the late session, it started to gain traction on the back of poor than expected U.S. jobless claim data. Last week 2.9M Americans filed for jobless benefit against the expected 2.5M people, and it weighed on the U.S. dollar. The weaker us dollar helped the AUD/USD to move in an upward direction. Furthermore, the escalating tensions between the U.S. and China also drove this pair on Thursday after Trump announced that he was prepared to cut off its ties with China. The domestic tensions of Aussie also affected the pair's movement. Relations of Australia itself with China are under danger zone after the Australian PM has shown his support to the investigation of China's role in coronavirus origin. China seemed to be offended by this step from its largest trading partner and then announced an 80% tariff on Australian meat imports. Daily Technical levels Support Resistance 0.6426 0.6496 0.6380 0.6520 0.6356 0.6566 Pivot Point: 0.6450 Technically speaking, the AUD/USD pair is trading below the horizontal resistance level of 0.6467 level. At the same level, the 50 periods Exponential moving average is also extending resistance, and we may see a continuation of a selling trend in the Aussie dollar. The pair may find immediate support around 0.6412 level, while the continuation of a selling bias may lead the Aussie towards 0.6375. Let's wait for the U.S. retail sales data before taking further trades in the AUD/USD pair. Good luck!

On Friday, U.S. President Donald Trump said that a strong U.S. dollar would be very helpful in the recovery phase after coronavirus. Furthermore, the pair failed to benefit from German's better than expected Inflation data from April. Investors were more concerned about the Eurozone's largest economy, whose inflation was continuously falling below from the ECB's target. The BTC/USD price abruptly dropped fell by 5.11% to $9,256 before rallying to trade in the $9,500 range. This followed a prior sudden decline on Thursday after BTC casually reached $10K to fill the CME futures gap. The BTC/USD figures showed that beginning in the day, the price climbed to $9,939, and the exhibition's consolidation of higher lows and lower highs induced some traders that further bullish trend continuation up to $10K. This change came roughly after an extensive period of sloping trading within the $8,000 ranges, and the bullish commitment to this consolidation has caused many analysts to target a move back up to BTC's yearly highs of nearly $10,500, but before it could target 10K market, we saw a dip in the market. BTC/USD - Daily Technical Levels Support Resistance 9,395 10,071 8,995 10,347 8,719 10,747 Pivot Point 9,671 BTC/USD – Daily Forecast The BTC/USD prices exhibited serious losses after having surged to 9,900 levels during the U.S. session. For now, the pair is testing support around 9,200 level, which is extended by the upward trendline, which can be seen on the hourly timeframe. Bounce of above this level can keep Bitcoin supported over 9,350 level while resistance hold at 9600. The 50 EMA and RSI, both are supporting bullish bias in the Bitcoin. Correction can be seen below 9,365 level today, while bullish breakout will drive buying unto 9,602. The EUR/USD prices were closed at 1.08040 after placing a high of 1.08238 and a low of 1.07746. Overall the movement of EUR/USD remained bearish throughout the day. The EUR/USD pair gained in early American session and moved above 1.0800 level but failed to post gains and started to fell to post daily losses. The primary driver of EUR/USD pair on Thursday seemed to be the U.S. dollar's market valuation. U.S. President Donald Trump said that a strong U.S. dollar would be very helpful in the recovery phase after coronavirus. Furthermore, the pair failed to benefit from German's better than expected Inflation data from April. Investors were more concerned about the Eurozone's largest economy, whose inflation was continuously falling below from the ECB's target. AT 11:00 GMT, the German Final CPI showed a rise of 0.4% in the month of April against the expected 0.3% and supported EUR. The German Wholesale Price Index (WPI) for April showed a decline of -1.4% against the forecasted -0.3%and weighed on single currency Euro. At 13:02 GMT, the Italian Trade Balance for March was reported as 5.69B against the 6.09B of February. Meanwhile, Euro was also dropped because of the renewed fears of second-wave of coronavirus after new cases of virus patients emerged in Europe. Any further signs of rising cases within Europe would increase the anxiety over Eurozone's economy, which would end up having stricter lockdown throughout the bloc. On the news front, France disclosed a plan of 18 Billion euros worth in order to support its tourism sector, which has been affected by the coronavirus pandemic. As a result of lockdown, the beaches, leisure attractions, and hotels in France were closed, which has badly affected the tourist industry. Nearly 90 million foreign tourists visited France last year and made France the most visited country of the year. EUR/USD - Daily Technical Levels Support Resistance 1.0778 1.0829 1.0751 1.0853 1.0727 1.088 Pivot Point 1.0802 EUR/USD – Daily Forecast The EUR/USD is trading at 1.0811, holding above the pivot point support level of 1.0802. A bearish breakout of 1.0802 level may lead the EUR/USD prices towards the next support area of 1.07630, which marks the double bottom level. Below this, future support holds around 1.0725. Conversely, resistance holds approximately 1.0842. The RSI is holding below 50, which is keeping the EUR/USD in a bearish mode while the 50 EMA is also suggesting odds of selling trend in the EUR/USD. Consider staying bearish below 1.0842 today, while buying can also be seen above this level today. The GBP/USD pair was closed at 1.22362 after placing a high of 1.23396 and a low of 1.22100. Overall the movement of GBP/USD pair remained bearish throughout the day. The GBP/USD pair refreshed its daily tops around 1.234 in early trading session but dropped again to post losses for 3rd consecutive day on Wednesday after the speech of Jerome Powell. On the back of better than expected GDP data from the United Kingdom, Pound gained strength against the U.S. dollar in the early North American Session but started to lose traction after the Fed Chair gave comments on the U.S. economy. At 11:00 GMT, the Prelim GDP for the quarter showed a decline of -2.0% against the forecasted value of -2.6% and supported GBP. The GDP for the month dropped by -5.8% in March against the expected -7.9% and supported the Pound. The Construction Output for March dropped by -5.9% against the forecasted drop of -7.1% and supported GBP. The Index of Services also came in favor of GBP after falling for -1.9% against the expectations of -2.5%. At 11:02 GMT, the Manufacturing Production for the month of March from the U.K. showed a decline of -4.6% against the expected decline by -6.0% and supported Sterling. The Goods Trade Balance from the United Kingdom showed a deficit of -12.5B against the forecasted deficit of -10.0B and weighed on Sterling. The Industrial Production for the month of March declined by -4.2% against the forecasted -5.5% and supported Pound. The Prelim Business Investment for the quarter was dropped to 0.0% against the expected -3.0% and supported British Pound. Most of the data came in favor of Pound and pushed the GBP/USD pair prices on Wednesday in early trading sessions. However, the gains of the GBP/USD pair started to lose after the speech of Jerome Powell, the Chairman of the Federal Reserve. On data front from the United States, the U.S. dollar remains depressed due to poor than expected PPI data for April, which fell more than the expectations. However, its effect was not lasting as the speech from Powell on the current economic situation came in under the eyes of traders. Support Resistance 1.2182 1.2259 1.2135 1.2289 1.2105 1.2335 Pivot Point 1.2212 The GBP/USD is consolidating at 1.2216, maintaining a downward channel on the 4-hour timeframe. The bearish trend of the GBP/USD is still dominant as it's holding below 50 EMA, which is extending resistance at 1.2300. The GBP/USD is holding below the daily pivot point level of 1.226, which is suggesting odds of Cable's selling trend. However, the bullish breakout of 1.226 level may extend buying until 1.231 and 1.2391. The RSI and 50 EMA are suggesting the chances of a selling bias today. On the lower side, the GBP/USD prices are likely to find support at around 1.2179 and 1.2132. Let's look for selling trades below 1.226 and buying above the same level today. Good luck!

CAD/JPY produced a bullish engulfing candle upon having a bearish correction on the daily chart. The chart produced the candle at a level where the price found its support earlier as well. Thus, the daily buyers, as well as intraday buyers, are going to keep their eyes on the pair to go long. The H4 and the H1 chart look good for the buyers as well. Let us now have a look at these three major charts. Chart 1 CAD/JPY Daily Chart The chart shows it made a bullish move upon producing a bullish engulfing candle around 75.000. The price headed towards the North having a rejection at 76.815, and remained bearish for two candles. It then had a bounce around 75.850 and produced a bullish engulfing candle. The level of 75.850 has been a significant level, where the price had a bounce several times earlier. The price may find its next resistance around 76.815. Since the daily chart is forming an ABC pattern, it may breach the level and make a new higher high. Chart 2 CAD/JPY H4 Chart The chart shows that it headed towards the North upon producing a bullish engulfing candle at 75.550. The price had a rejection at 76.510. It has been in consolidation. The level of 76.305 may hold the price as a level of support. If the chart produces a bullish reversal candle, the buyers may go long above 76.510. The price may find its next resistance around 76.800. On the contrary, if the price makes a bearish breakout at 76.305, it may find its next support at 75.880. Chart 3 CAD/JPY H1 Chart The price after being bullish had a rejection at 76.510 twice. The level of 76.305 has been working as a neckline. If the level is breached by a bearish candle, the sellers may go short in the pair and drive the price towards the South with good bearish momentum. The price may find its next support at 76.000. On the other hand, the level of 76.305 is a flipped support, which may attract the buyers to go long upon a bullish reversal candle followed by a breakout at 76.510. The price may find its next resistance around 76.700. These three charts look good for the buyers. Thus, the pair may have a bullish day today. If today’s candle closes above the last higher high, the pair may remain bullish for several days.

The WTI crude oil prices looking directionless despite decreasing the U.S. inventory report. The crude oil prices were mostly unchanged on the day near the $25.40. However, a bullish breakout of $27 level leads the oil prices towards the next resistance level of 27.82. The Commodity Futures Trading Commission warned that the odds of extra price volatility have increased as the expiry date of the June West Texas Intermediate contract nears. The receding hopes of quick economic recovery and the US-China intensifying tension damaged the investor's confidence, resulting from a weaker tone around the equity markets. At the US-China front, the already intensified trade tussle between the United States and China got worse after U.S. President Trump recently blocked investments into the Chinese stocks. China fire shots by words on the United States, which eventually weighed on the market risk sentiment. In the meantime, the U.S. stocks dropped after the Federal Reserve's Powell signaled that the economy could face further downturn if Congress fails to provide additional financial support, which eventually keeps the oil prices under pressure. On the other hand, the OPEC also shared the negative story about the world oil demand in its monthly report on Wednesday. The organization now expects demand to drop by 9.07 million BPD this year, compared to its expected contraction of 6.85 million BPD last month, which also keeps oil traders cautious. Daily Support and Resistance Pivot Point 25.25 The technical side of the U.S. oil is mostly unchanged as it continues to trade in between 27 - 25 area. The recent weakness in the U.S. dollar is finally supporting crude oil prices due to the dollar's negative correlation with commodities. The U.S. oil is consolidating at 26.96, having violated the symmetric triangle pattern, which provided resistance at 26.70 along with support at 25.10 and 24.10. The bullish breakout of 26.70 may lead to WTI prices towards 27.30 and even higher towards 27.80 during the U.S. session today. All the best!

The AUD/USD currency pair failed to stop its previous 4-session losing streak and dropped just below mid-0.6400s, mainly due to the risk-off market sentiment, which keeps the risker assets, including Aussie dollar under pressure. The broad-based U.S. dollar strength also weighed on the currency pair and contributed to the currency pair earlier declines. The AUD/USD is trading at 0.6429 and consolidated in the range between the 0.6421 and 0.6462. Federal Reserve Chair Jerome Powell showed disagreeability about the idea of the negative rate. He gave a very depressive statement about the economic downturn, which bolstered the demand of the U.S. dollar and contributed to the currency pair earlier declines. Besides, the Fed Chair Powell indicates that the on-going recession could be for the long-term if Congress fails to provide additional fiscal support. The receding expectations about the sharp recovery of economic weighed on the investors' sentiment. The risk-off market sentiment fueled by multiple factors like the US-China trade war and the second wave of coronavirus weakened demand for the perceived riskier Australian dollar. At the US-China front, the already escalated trade war between the United States and China got fueled further after U.S. President Trump recently blocked investments into the Chinese stocks. As in result, China fire shots by words on the United States, which eventually weighed on the market risk sentiment. Earlier in the morning, the Republican leader has denied renegotiation of the Phase 1 deal while alleging China for the virus outbreak. At the data front, the reason for the currency pair declines could also be attributed to the Thursday's mixed Aussie employment figures, showing that the number of employed people declined more-than-expected, by 594.3K in April. Alternatively, the lower-than-expected rise in the unemployment rate helped limit deeper losses. On the technical front, the AUD/USD pair is on a bearish run, having dropped below an immediate support level of 0.6432. Closing of candles below this level suggests odds of selling bias in Aussie. At the same time. The 50 EMA and RSI are also in support of the selling trend. But the closing of recent candles is rather mixed. Long shadows of candles are demonstrating the sort of indecision among traders, especially since the release of worse than expected U.S. Jobless Claims data. Let's look for selling trades below 0.6440 with a target around 0..6370. Alternatively, buying can also be seen around 0.6370 zones. All the best!

The dollar is trading with a neutral bias as the US April Inflation data showed that it fell more than the expectations and made the U.S. dollar weaker against Euro currency. The forecasted value of CPI was -0.7%, which in actual came as -0.8%. The Core CPI came as -0.4% in the month of April against the forecasted -0.2%. Let's wait for Fed Chair's speech today.   The Bitcoin price dropped up today, after soaring by 5.78% to a daily high of $9,398 before leaning back to trade in the $9,300 range. The definite upside move drove the top-ranked digital asset on over the $8,800-$8,930 resistance band. Considering the halving day retracement dropped the price to $8,122, Bitcoin price has gained 14.48%, principal traders to immediately see for $9,200 to work as support. As Bitcoin gradually works its way backward to $10,000, the $9,300 to $9,400 region could be a sticking spot where resistance will produce a retest of previous levels of resistance at $9,200 and $9,061 where the 78.6% Fibonacci Retracement is settled. BTC/USD - Daily Technical Levels Support Resistance 8,946 9,542 8,582 9,775 8,349 10,138 Pivot Point 9,178 BTC/USD – Daily Forecast The BTC/USD prices have violated the ascending triangle pattern, which is leading bitcoin prices towards the fresh resistance level of 9,400. While support holds around 9,170, a bullish breakout of 9.400 level may extend buying until the next resistance level of 9,602. The 50 EMA and RSI, both are supporting bullish bias in the Bitcoin. Correction can be seen below 9,365 level today, while bullish breakout will drive buying unto 9,602. The EUR/USD prices were closed at 1.08186 after placing a high of 1.08963 and a low of 1.08114. Overall the movement of the EUR/USD pair remained bearish throughout the day. The recovery attempt of the EUR/USD pair on Wednesday failed to reach 1.0900 level and was pulled back during the U.S. trading session. Fed's Powell comments on the U.S. economy offered support to the U.S. dollar, which dragged down the pair to post losses for the day. At the beginning of the trading session on Wednesday, EUR/USD prices appreciated to a one-week high at 1.0896 on the back of moderate optimism about the European economies, which were prepared to lift the COVID-19 lockdown gradually. However, the upward trend of pair EUR/USD was dragged down after the speech of Federal Reserve Chairman, Jerome Powell. He dismissed the rumors about the need for negative interest rates and warned that a long-term recession was on its way to the U.S. economy if the White House & Congress did not approve more fiscal aid. Furthermore, the European Commission on Wednesday unveiled a phased plan for re-opening of borders, airports, and hotels for summer. This initiative came in order to save the tourism industry, which has been collapsed amid the COVID-19 restrictions. Meanwhile, the statement of Michael Gove, Chancellor of Duchy of Lancaster, that the U.K. and Brussels could negotiate a trade deal in six months was dismissed by the European Union officials on Wednesday. On the data front, at 14:00 GMT, the Industrial Production for the month of March showed a decline of -11.3% against the forecasted decline by -12.3%. Better than expected fall in industrial activity gave some positive trend to single currency euro and added in the rise of the pair's movement in the early trading session. EUR/USD - Daily Technical Levels Support Resistance 1.0787 1.0873 1.0756 1.0928 1.0701 1.0959 Pivot Point 1.0842 EUR/USD – Daily Forecast The EUR/USD is trading at 1.0802, holding below the pivot point resistance level of 1.0842. A bearish breakout of 1.0842 below level is leading the EUR/USD prices towards the next support area of 1.07630, which marks the double bottom level. Below this, the next support holds around 1.0725. Conversely, resistance holds around 1.0842. The RSI is holding below 50, which is keeping the EUR/USD in a bearish mode while the 50 EMA is also suggesting odds of selling trend in the EUR/USD. Consider staying bearish below 1.0842 today, while buying can also be seen above this level today. The GBP/USD pair was closed at 1.22362 after placing a high of 1.23396 and a low of 1.22100. Overall the movement of GBP/USD pair remained bearish throughout the day. The GBP/USD pair refreshed its daily tops around 1.234 in early trading session but dropped again to post losses for 3rd consecutive day on Wednesday after the speech of Jerome Powell. On the back of better than expected GDP data from the United Kingdom, Pound gained strength against the U.S. dollar in the early North American Session but started to lose traction after the Fed Chair gave comments on the U.S. economy. At 11:00 GMT, the Prelim GDP for the quarter showed a decline of -2.0% against the forecasted value of -2.6% and supported GBP. The GDP for the month dropped by -5.8% in March against the expected -7.9% and supported the Pound. The Construction Output for March dropped by -5.9% against the forecasted drop of -7.1% and supported GBP. The Index of Services also came in favor of GBP after falling for -1.9% against the expectations of -2.5%. At 11:02 GMT, the Manufacturing Production for the month of March from the U.K. showed a decline of -4.6% against the expected decline by -6.0% and supported Sterling. The Goods Trade Balance from the United Kingdom showed a deficit of -12.5B against the forecasted deficit of -10.0B and weighed on Sterling. The Industrial Production for the month of March declined by -4.2% against the forecasted -5.5% and supported Pound. The Prelim Business Investment for the quarter was dropped to 0.0% against the expected -3.0% and supported British Pound. Most of the data came in favor of Pound and pushed the GBP/USD pair prices on Wednesday in early trading sessions. However, the gains of the GBP/USD pair started to lose after the speech of Jerome Powell, the Chairman of the Federal Reserve. On data front from the United States, the U.S. dollar remains depressed due to poor than expected PPI data for April, which fell more than the expectations. However, its effect was not lasting as the speech from Powell on the current economic situation came in under the eyes of traders. Support Resistance 1.2179 1.231 1.2129 1.2391 1.2048 1.2442 Pivot Point 1.226 The GBP/USD is trading bearish after the breakout of the sideways trading range of 1.2350 - 1.2285. At the moment, the able is trading at 1.2160 before reverting back to 1.2195. The selling bias of the GBP/USD is still dominant as it's holding below 50 EMA, which is extending resistance at 1.2300. The GBP/USD is holding below the daily pivot point level of 1.226, which is suggesting odds of the selling trend in the Cable. However, the bullish breakout of 1.226 level may extend buying until 1.231 and 1.2391. The RSI and 50 EMA are suggesting the chances of a selling bias today. On the lower side, the GBP/USD prices are likely to find support at around 1.2179 and 1.2132. Let's look for selling trades below 1.226 and buying above the same level today. Good luck!

GBP/USD has been bearish on the daily chart since 1st May. The price had a rejection at a double top resistance and breached the neckline. Thus, the sellers are going to keep their eyes on the pair to go short in the daily chart. Major intraday charts such as the H4 and the H1 look good for the bear too. Thus, the pair may produce another bearish candle on the daily chart. If today’s daily candle closes as a bearish marubozu candle, the pair may make a massive bearish move. Let us now have a look at the three major charts. Chart 1 GBP/USD Daily Chart The price had a bounce at 1.26150 and produced a bearish inside bar. It headed towards the South and made a breakout at 1.22650. The sellers may consider it a neckline breakout. Thus, they are going to be keen to find out short opportunities in the pair. The chart shows that the price may find its next support around 1.14500. This means the Bear may make a massive move here. Chart 2 GBP/USD H4 Chart The H4 chart shows that the price has been heading towards the South upon having upside corrections. Yesterday, the chart produced a massive H4 candle closing within 1.22110. Today’s second H4 candle closed within the level as well. However, as of writing, the pair has been trading below the level. Some sellers may have already triggered their short entries. The price may find its next support around 1.21300. Chart 3 GBP/USD H1 Chart The H1 chart has kept making new lower lows. The price had a bounce at 1.22050 and consolidated around the level for a while before making a breakout. Minor intraday traders may wait for the price to go back towards the breakout level and produce a bearish reversal candle to trigger short entries. The price may find its next resistance around 1.21600. On the contrary, if the price breaches 1.22050, intraday buyers may go long and push the price towards the level of 1.22850. Since the daily and the H4 chart are bearish biased, it is more likely that the pair may produce a bearish reversal candle on the minor charts and offer traders short entries. Considering these three charts, the pair may produce a bearish daily candle. If the candle closes having a tiny lower shadow, the pair may keep heading towards the South with more bearish pressure. The Bear has a lot of space for its next run in the GBPUSD.