All through the week, the range in the EUR/USD pair tightened day after day, and Friday seems to be no exception: the pair trades within a symmetrical triangle approaching to its vertex, making of a break either side of the figure a pretty uneventful when it comes to giving a trading signal. Earlier today there was plenty of data in the EZ, with inflation and GDP readings for the area itself and some of the major countries, with EZ inflation steady at 0.3%, and GDP ticking higher yearly basis up to 0.8%.
The EUR/USD pair however failed to react to the news, stuck around 1.2450/60. The 4 hours chart shows still a neutral stance, with 20 SMA and indicators unable to set a direction. As commented on previous updates, a clear breakout above 1.2520 or below 1.2400 is required to see the pair gaining some directional strength, and move 30/50 pips.
View Live Chart for EUR/USD
The EUR/USD pair however failed to react to the news, stuck around 1.2450/60. The 4 hours chart shows still a neutral stance, with 20 SMA and indicators unable to set a direction. As commented on previous updates, a clear breakout above 1.2520 or below 1.2400 is required to see the pair gaining some directional strength, and move 30/50 pips.
View Live Chart for EUR/USD
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
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.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.