Technically, the 4 hours chart shows that price has posted higher lows daily basis, despite trading in a 100 pips range, with indicators maintaining a neutral stance as per holding around their midlines. The immediate static resistance stands at 1.2990 recent highs, with a price acceleration above it favoring a continuation up to 1.3040/50 price zone. Beyond this last, the pair may attempt approaching the 1.3100 figure, and a daily close near this last should signal further gains for the upcoming days.
To the downside, price needs to extend below 1.2880 to confirm a bearish continuation, eyeing then fresh year lows in the1.2820/40 price zone.
View Live Chart for EUR/USD
Recommended Content
Editors’ Picks
EUR/USD trades weak below 1.0800 amid Good Friday lull, ahead of US PCE
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair keenly awaits the US PCE inflation data and Fed Chair Powell's speech for fresh hints on next week's price action.
GBP/USD holds steady above 1.2600 as markets stay calm on Good Friday
GBP/USD trades sideways above 1.2600 amid a typical Good Friday trading lull. A broadly firmer US Dollar could keep any upside attempts limited in the pair ahead of the US PCE inflation data and Fed Chair Powell's appearance.
Gold reaches to all-time highs near $2,230, US PCE eyed
Gold price appreciates to all-time highs near $2,230 per troy ounce, attempting to continue its winning streak for the fifth successive session on Friday. However, trading volumes are light as market participants are likely observing Good Friday.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.