DAILY MARKET OUTLOOKUpdate Time: 29 May 2015 01:13 GMT
EUR/USD - 1.0961
Euro's strong rebound from Wednesday's fresh 1-month trough at 1.0819 and then breach of 1.0959 (previous support and subsequent resistance) signals decline from May's 3-month peak at 1.1467 has made a temporary low there and choppy trading with mild upside bias would be seen.
However, reckon measured resistance at 1.1030 would cap upside today and yield retreat later.
On the downside, only below 1.0819 would extend aforesaid fall to retrace the entire rise from March's 12-year trough at 1.0457 towards 1.0740/50 and then 1.0700/10.
Recommended Content
Editors’ Picks
EUR/USD holds steady near 1.0650 amid risk reset
EUR/USD is holding onto its recovery mode near 1.0650 in European trading on Friday. A recovery in risk sentiment is helping the pair, as the safe-haven US Dollar pares gains. Earlier today, reports of an Israeli strike inside Iran spooked markets.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD is rebounding toward 1.2450 in early Europe on Friday, having tested 1.2400 after the UK Retail Sales volumes stagnated again in March, The pair recovers in tandem with risk sentiment, as traders take account of the likely Israel's missile strikes on Iran.
Gold price defends gains below $2,400 as geopolitical risks linger
Gold price is trading below $2,400 in European trading on Friday, holding its retreat from a fresh five-day high of $2,418. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row, supported by lingering Middle East geopolitical risks.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Geopolitics once again take centre stage, as UK Retail Sales wither
Nearly a week to the day when Iran sent drones and missiles into Israel, Israel has retaliated and sent a missile into Iran. The initial reports caused a large uptick in the oil price.