4th February 2022 Technical Analysis

EURUSD

EURUSD rose on Thursday, and the technical bias is bullish due to higher highs in the recent downtrend.

The pair is currently trading near 1.14380，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1:  1.14650

Resistance level 2: 1.15120

Resistance level 3: 1.15600

Below the price, multiple support levels can be seen which may prevent the price from falling.

Support level 1: 1.14200

Support level 2: 1.13700

Support level 3: 1.13300

Today, the United States will announce the data of the non-farm payrolls report for January. Higher data indicates favorable to the US dollar, so it is negative for the European and American currency pairs, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to buy the EURUSD currency pair near the current level.

GBPUSD

GBPUSD rose on Thursday, and the technical bias is bullish due to higher highs in the recent uptrend.

The pair is currently trading near 1.36024，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1:  1.36200

Resistance level 2: 1.36430

Resistance level 3: 1.36630

Below the price, multiple support levels can be seen which may prevent the price from falling.

Support level 1:  1.35850

Support level 2: 1.35680

Support level 3: 1.35450

Today, the United States will announce the data of the non-farm payrolls report for January. Higher data indicates favorable to the US dollar, so it is negative for the GBPUSD currency pairs, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to buy the GBPUSD currency pair near the current level.