The EURUSD continued losing ground last week, as we can see in the weekly chart below. We are still bearish biased on this market and will continue looking for price action sell signals on any rotation higher this week, to trade in-line with the downtrend from value. The next key support level is seen down near 1.2750 and we could see price test that level this week if the current bearish momentum continues. Beyond that, we see key support down near 1.2285 and then 1.2040.
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EUR/USD rises toward 1.0700 after Germany and EU PMI data
EUR/USD gains traction and rises toward 1.0700 in the European session on Monday. HCOB Composite PMI data from Germany and the Eurozone came in better than expected, providing a boost to the Euro. Focus shifts US PMI readings.
GBP/USD regains 1.2350 ahead of UK PMIs
GBP/USD is recovering ground above 1.2350 in the European session, as the US Dollar comes under fresh selling pressure on improving risk sentiment. The further upside in the pair could be capped, as traders await the UK PMI reports for fresh trading impetus.
Gold price flirts with $2,300 amid receding safe-haven demand, reduced Fed rate cut bets
Gold price (XAU/USD) remains under heavy selling pressure for the second straight day on Tuesday and languishes near its lowest level in over two weeks, around the $2,300 mark heading into the European session.
PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange
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US S&P Global PMIs Preview: Economic expansion set to keep momentum in April
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