Anyway and technically, the pair has little to offer at the current level, stuck a few pips above 1.0865, but unable to firm up above the 1.0900 figure. Ever since the latest FOMC statement, the pair has been trading quite choppy between 1.08 and 1.10, and the fact that stands mid range, sheds no light over what's next in the short term. As for the technical picture, both the 1 and the 4 hours chart favor the downside with a price acceleration below the mentioned 1.0865 Fibonacci support, favoring an approach to the 1.0800 level. Some follow through above 1.0900 on the other hand, should see the price extending up to 1.0950 a quite strong static resistance level that should limit the upside in the short term. Should the price finally break above it, the price may extend up to the 1.1000 area, with little probabilities of additional advances beyond it for this Monday.
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.