The EUR/USD 4 hours chart shows that the price’s sharp advance break above the 38.2% retracement of the ECB QE announcement triggered decline, whilst indicators surged up to their midlines, about to cross them higher. 20 SMA in the same time frame maintains a bearish slope while the mentioned Fibonacci level stands at 1.1310.
Sellers halted the advance pretty fast around the daily high, sending the EUR/USD back lower, albeit holding now above the mentioned Fibonacci level and former daily highs in the 1.1290 price zone. If this last level gives up, the pair will likely resume its slide down to 1.1240 price zone, whilst if this last gives up, the 1.1200 figure comes next. To the upside, the key resistance stands at 1.1365, 50% retracement of the same rally, as it would take an advance above it to support a continued rally up to 1.1400.
View Live Chart for EUR/USD
Recommended Content
Editors’ Picks
EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
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.