Start the week of February 14, 2022 with our Forex forecast focusing on major currency pairs here. forextrading
dollar initially trying to rally last week, but later on we started to see a lot of selling pressure as there are concerns about whether or not the Federal Reserve is going to tighten too quickly, or if there are going to be major geopolitical issues due to the fact that Russia could invade Ukraine.
Either way, it is a major “risk off” type of market right now, so it does make sense that the Aussie would be a victim.The euro broke down significantly last week but still remains above the halfway point of the previous candlestick. This is a somewhat small bright spot in the bigger picture, but at this point it is very likely that we will see a lot of concerns. Ultimately, the 1.15 level above is going to continue to be an issue, which extends to the 1.16 level.
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