Last Update At 02 Jul 2015 23:53GMT
Trend Daily Chart
Sideways
Daily Indicators
Falling
21 HR EMA
1.1084
55 HR EMA
1.1097
Trend Hourly Chart
Sideways
Hourly Indicators
Neutral
13 HR RSI
51
14 HR DMI
+ve
Daily Analysis
Choppy consolidation to continue
Resistance
1.1244 - Tue's high
1.1171 - Wed's high
1.1122 - Y'day's high
Support
1.1051 - Y'day's NY low
1.1032 - Y'day's low
1.1085 - Hourly chart
. EUR/USD - 1.1086... Despite extending erratic fall fm this week's 1.1279 high (Mon) to 1.1032 ahead of Asia open Thur, euro ratcheted higher n briefly jumped fm 1.1051 to 1.1122 in NY after tepid U.S. jobs data b4 moving narrowly.
. Looking at the daily chart, euro's 3-legged decline fm Jun's 1.1440 high to 1.0955 on Mon signals further volatile trading below May's 3-month peak at 1.14467 wud continue n the aforesaid rally fm 1.0955 to 1.1279 on the same day suggests the price action fm May's 1.1467 peak is possibly unfolding into a 'triangle' (a-leg bottom at Jun's low at 1.0819, b-leg top at 1.0440 n Mon's low at 1.0955 being the c-leg terminus). As expected, the U.S. payrolls proved to a non-event n euro gyrate inside the indicated 1.1440-1.0955 range as market focus is on the looming Greek referendum on Jul 5. On the upside, a breach of 1.1279 res wud add credence the abv triangle scenario n yield subsequent headway twd 1.1387. A daily close below 1.1032 may risk weakness twd 1.0955 where a break there wud yield decline twd key sup at 1.0819 (May low).
. Today, another day of sideways move is in store as traders are keeping their powder dry, so buying euro on dips or selling on further rise is favoured.
Recommended Content
Editors’ Picks
USD/JPY holds near 155.50 after Tokyo CPI inflation eases more than expected
USD/JPY is trading tightly just below the 156.00 handle, hugging multi-year highs as the Yen continues to deflate. The pair is trading into 30-plus year highs, and bullish momentum is targeting all-time record bids beyond 160.00, a price level the pair hasn’t reached since 1990.
AUD/USD stands firm above 0.6500 with markets bracing for Aussie PPI, US inflation
The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday. The AUD/USD advance was sponsored by a United States report showing the economy is growing below estimates while inflation picked up.
Gold soars as US economic woes and inflation fears grip investors
Gold prices advanced modestly during Thursday’s North American session, gaining more than 0.5% following the release of crucial economic data from the United States. GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the US Fed could lower borrowing costs.
Ethereum could remain inside key range as Consensys sues SEC over ETH security status
Ethereum appears to have returned to its consolidating move on Thursday, canceling rally expectations. This comes after Consensys filed a lawsuit against the US SEC and insider sources informing Reuters of the unlikelihood of a spot ETH ETF approval in May.
Bank of Japan expected to keep interest rates on hold after landmark hike
The Bank of Japan is set to leave its short-term rate target unchanged in the range between 0% and 0.1% on Friday, following the conclusion of its two-day monetary policy review meeting for April. The BoJ will announce its decision on Friday at around 3:00 GMT.