EUR/USD Current price: 1.3298
View Live Chart for the EUR/USD
In a journey dominated by risk aversion, the EUR/USD managed to hold the 1.3300 level, until EU Juncker said euro exchange rate was “dangerously highâ€Â. His words triggered a bearish run in the pair that reached the 38.2% retracement of its latest bullish run at 1.3264, before bouncing back towards the 1.3300 area. Early slide in stocks that feed market negative sentiment, was reversed late US session, with some comment from FED’s member Rosengren, who sees there’s scope to enlarge QE if jobs situation does not improve. The reversal in stocks and sentiment, helped EUR/USD recover ground, yet the pair was unable to extend above the 23.6% retracement of the same rally at 1.3318 and immediate resistance level. For the short term, the hourly chart shows a bearish tone, with 20 SMA above current price and indicators heading lower below their midlines. 4 hours chart shows an increasing bearish potential also coming from indicators, yet the downside still seems tough. Break below the Fibo level however, should put the pair under pressure, with 1.3180 strong support level then at sight.
Support levels: 1.3265 1.3220 1.3180
Resistance levels: 1.3320 1.3360 1.3400
GBP/USD Current price: 1.6065
View Live Chart for the GBP/USD (select the currency)
Pretty much unchanged, the GBP/USD continues to orbit around the 1.6065 static level, unable to set a clearer trend since the week started. The hourly chart a slightly bearish tone with indicators right below their midlines and price hovering around 20 SMA, while in the 4 hours chart indicators gain bearish momentum below their midlines, pressuring the pair to the downside. Above 1.6100, the bearish pressure may ease although only above 1.6130, a short term descendant trend line, the pair may found strength enough to start posting gains.
Support levels: 1.6025 1.5990 1.5950
Resistance levels: 1.6095 1.6130 1.6160
USD/JPY Current price: 88.81
View Live Chart for the USD/JPY (select the currency)
The USD/JPY recover from 88.28 daily low was unable to regain the 89.00 level, and the pair trades right below it, finding short term resistance in the hourly 100 SMA, that holds a bullish slope. While the hourly chart shows indicators standing at neutral territory with no upward momentum, the bullish bias persists in the pair, as latest dip seems just corrective. In the 4 hours chart indicators are bouncing higher from around their midlines, which also suggest the downside will remain limited. The pair however needs to regain 89.30 area, to be able to regain previous bullish strength and attempt a run towards the 90.00 level.
Support levels: 88.70 88.30 88.00
Resistance levels: 89.00 89.30 89.65
AUD/USD: Current price: 1.0555
View Live Chart for the AUD/USD (select the currency)
The AUD/USD found buyers again today around 10520, managing to recover back to where it started. Little changed intraday, the hourly chart shows price above 20 SMA and indicators in positive territory, yet readings hold a neutral stance giving not much clues on next move. Short term resistance comes around 1.0580/1.0600 area, and only a clear break of this last will favor an upward continuation towards 1.0660, while dips up to 1.0490 are seen as buying opportunities in the pair.
Support levels: 1.0520 1.0490 1.0450
Resistance levels: 1.0580 1.0600 1.0640
New to Forex? Visit our Glossary!
Recommended Content
Editors’ Picks
EUR/USD advances toward 1.1200 on renewed US Dollar weakness
EUR/USD is extending gains toward 1.1200 on Friday, finding fresh demand near 1.1150. Risk sentiment improves and weighs on the US Dollar, allowing the pair to regain traction. The Greenback also reels from the pain of the dovish Fed outlook, with Fedspeak back on tap.
Gold price advances further beyond $2,600 mark, fresh record high
Gold price (XAU/USD) gains positive traction for the second successive day on Friday and advances to a fresh record high, beyond the $2,600 mark during the early European session.
USD/JPY recovers to 143.00 area during BoJ Governor Ueda's presser
USD/JPY stages a recovery toward 143.00 in the European morning following the initial pullback seen after the BoJ's decision to maintain status quo. In the post-meeting press conference, Governor Ueda reiterated that they will adjust the degree of easing if needed.
Shiba Inu is poised for a rally as price action and on-chain metrics signal bullish momentum
Shiba Inu remains strong on Friday after breaking above a symmetrical triangle pattern on Thursday. This breakout signals bullish momentum, further bolstered by a rise in daily new transactions that suggests a potential rally in the coming days.
Bank of Japan set to keep rates on hold after July’s hike shocked markets
The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.