GBP/USD surges above 1.2200 on Merkel's Brexit optimism

GBP/USD is trading above 1.2250, at the highest this month after German Chancellor Merkel said a solution to the Irish backstop can be found by October 31st. UK PM Johnson is meeting French President Macron.

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EUR/USD hits fresh three-week lows as optimism from German data fades

EUR/USD has hit a fresh three-week low below 1.1070 as optimism from better-than-expected German PMIs fades. The data still points to a downturn. Tension mounts ahead of Fed's Powell critical speech on Friday.

EUR/USD News

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: BTC to $50,000 or Gold to $5,000? Current crypto levels to watch

"Gold will reach $5,000" claimed Peter Schiff, a crypto critic, and a gold bug. "Bitcoin will reach $50,000," said Tom Lee. Both influences clashed on social media and on television about future prices. 

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Gold plummets to fresh nine-day lows near $1,492 on surging US T-bond yields

The XAU/USD pair came under renewed bearish pressure in the last hour and broke below the critical $1,500 as the rising US Treasury bond yields made it difficult for the safe-haven gold to find demand.

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Bitcoin price prediction: BTC/USD needs $10,200 to blast towards $11,000 – Confluence Detector

A newly released research by Arcane Research says that Bitcoin dominance is at 90% and not 70% as has been widely accepted. The report is published by Forbes is causing quite a stir in the market.

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IOTA conquers the 50 SMA following in the footsteps of Ethereum Classic

IOTA price is back in the green alongside several other cryptocurrencies. The grandparent cryptocurrencies Bitcoin is still nursing wounds after the bear’s mauling. $0.2325 - $0.2350 is coming up as an incredible support area. 

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Cryptocurrency market update: Bitcoin real market dominance is 90% leaving altcoins with a mere 10%

New research is showing some interesting features regarding the total market capitalization in the cryptocurrency market. The report published by Forbes on August 22 claims that Bitcoin has a 90% dominance in the market.

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Ethereum Classic on full throttle: ETC breaks away from Bitcoin and the park

In a Bitcoin bearish market, Ethereum Classic defies the general trend to post impressive gains. In fact, the crypto has been breaking one barrier after another from Monday this week. 

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EURUSD: Euro remains below 1.11 despite PMIs beat

GBP/USD Forecast: Selling opportunity? EU openness seems part of the blame game

Elevated hopes for dovish Powell

AUD/USD Analysis: breakout occurs

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Updated euro-zone GDP, the US consumer, and trade are eyed

"When two are fighting, the third wins" – goes the saying. The euro has benefited from the intensifying US-Sino trade spat. China has devalued its yuan and triggered a rush to safety that weighed on the USD. Will this continue? Back in the euro-zone, updated GDP data, a German business survey, and Italy's political issues will compete for attention with the US consumer.




Yohay Elam

EUR/USD has been consolidating around 1.1100 and looking for a new direction as it waits, data, the European Central Bank's meeting minutes, and the all-important speech by Fed Chair Jerome Powell. Where will the currency go to? It may find it easier to fall rather rise.

The Technical Confluences Indicator is showing that EUR/USD has support at 1.1065 which is the convergence of the previous monthly low and the Pivot Point one-day Support 2.

Below this line, noteworthy support awaits only at 1.1973, where we see the Pivot Point one-week Support 2 and the PP one-month S1.

Looking up, there is limited room to rise. Initial resistance is at 1.1094, where a dense cluster of lines awaits EUR/USD. These include the Bollinger Band 15min-Middle, the Simple Moving Average 50-15m, the Fibonacci 38.2% one-day, the SMA 200-15m, the SMA 200-15m, the SMA 100-1h, the SMA 5-4h, the BB 15min-Upper, and the BB 1h-Middle.

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