The goals are achieved!
Yesterday against the background of remarkable news across the USA the pair reached a long-awaited level of support 1,1200, nevertheless the unresolved question with Greece puts pressure upon the European currency. Today is rich in the news across both Europe and America which, most likely, will continue to press on pair and it will continue the descending movement.
Main movement of the currency pair
EUR/USD pair moves in the descending trend, Tenkan and Kijun lines are bound above the price curve, the price is kept below the descending cloud, continuation of the descending movement is predicted. It is necessary to take selling positions below the level of resistance 1,1240, to fix profit at the levels of support 1,1200, 1,1175, 1,1140.
Alternative movement of the currency pair
If pair succeeds to break through and get fixed above the level of resistance 1,1240, continuation of the ascending movement to the following levels of resistance 1,1300, 1,1335 will be possible.
Level of resistance: 1,1240; 1,1300; 1,1335.
Level of support: 1,1200; 1,1175; 1,1140.
Yesterday against the background of remarkable news across the USA the pair reached a long-awaited level of support 1,1200, nevertheless the unresolved question with Greece puts pressure upon the European currency. Today is rich in the news across both Europe and America which, most likely, will continue to press on pair and it will continue the descending movement.
Main movement of the currency pair
EUR/USD pair moves in the descending trend, Tenkan and Kijun lines are bound above the price curve, the price is kept below the descending cloud, continuation of the descending movement is predicted. It is necessary to take selling positions below the level of resistance 1,1240, to fix profit at the levels of support 1,1200, 1,1175, 1,1140.
Alternative movement of the currency pair
If pair succeeds to break through and get fixed above the level of resistance 1,1240, continuation of the ascending movement to the following levels of resistance 1,1300, 1,1335 will be possible.
Level of resistance: 1,1240; 1,1300; 1,1335.
Level of support: 1,1200; 1,1175; 1,1140.
Recommended Content
Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.