The EUR/USD is under pressure, falling to a fresh 5-month low with the European opening, so far of 1.3480. The pair trades a few pips above the year low of 1.3476, having been unable to extend its decline despite breaching last week one of 1.3490. Nevertheless, the bearish tone has become stronger, and the 4 hours chart shows 20 SMA managed to cap the upside since early Asian opening, while momentum accelerates south below its midline.
Large stops are reported below the 1.3470 level, and if triggered should signal a quick run towards 1.3440 static support zone. If this last gives up, the 1.3400 figure comes next. To the upside, 1.3535 price zone is the level to watch, as only steady gains above it will deny the downward continuation and favor a bounce up to 1.3570.
View Live Chart for EUR/USD
Large stops are reported below the 1.3470 level, and if triggered should signal a quick run towards 1.3440 static support zone. If this last gives up, the 1.3400 figure comes next. To the upside, 1.3535 price zone is the level to watch, as only steady gains above it will deny the downward continuation and favor a bounce up to 1.3570.
View Live Chart for EUR/USD
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.