The EUR/USD gains some ground in Europe, as local share markets present a strong upward momentum, while US futures also head back to recent 5-year highs. The EUR presents a general strength against most rivals, surging against the greenback to fresh daily highs. The 4 hours chart shows indicators aiming higher still below their midlines, while price stands above 20 SMA, reflecting the increasing bullish pressure. The pair may found some selling interest in the 1.3270/1.3300 area, and retracements from the area could be expected. However, the key level to follow lies above, in the 1.3350 region, where the pair has a daily descendant trend line coming from 1.3710: only above such level the upward movement could turn into a recovery and not a mere correction.
The downside is now protected by buyers around 1.3210/20; once below, the pair has scope to fall back towards the 1.3150/70 price zone.
View Live Chart for EUR/USD
The downside is now protected by buyers around 1.3210/20; once below, the pair has scope to fall back towards the 1.3150/70 price zone.
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.