EURUSD Analysis: What's it gonna be? Up or down? [Video]
GBP/USD jumps to daily highs at 1.3040
The Pound found support on headlines indicating that the EU is willing to offer the UK a wide-customs arrangement. GBP/USD firms above 1.3000, dominating risk aversion preventing it from advancing further.
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European stocks sink to near 2-year lows
European equity markets remained under some intense selling pressure on Tuesday and fell to their lowest level in nearly two years.
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The controversy has not affected Bitcoin at all, which has been in the same range for weeks, but it has punished and much the perception of reliability about Tether. A controversy that has grown at the same time that other options appeared in the market with the aim of sharing a very appetizing business exchange.
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The local support zone lies with $6,350. This area stopped the downside on Friday and may serve as a good jump-off-place for recovery this time.
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The EUR/USD pair gave back its previous weekly gains and retested the October low, settling below the 1.1500 level this week. The common currency is out of market's favor, unable to enter bullish territory, even in a dollar-weak environment.
Most major currency pairs are in the same predicament: there is much more to digest going against the USD than in its favor. Note the movement would neutralise part of last week's U.S. equity losses for the international investor.
The EUR/USD could pivot to the upside into an eventual new up leg only after taking out a consequential resistance-cluster lodged between 1.1525 and 1.1540, and shortly thereafter breaking the pivot point's R1, in order to trigger an upside projections to 1.1760. On the downside though, isolated technical barriers are looking more like targets than solid levels of support. Pivot point's S1 around 1.1450, the weekly pivot S1 around 1.1425, and a few more you can check on the Technical Confluences Indicator do not look as if they could contain any serious drop.
A slowly rising tide does not float all boats equally, so USD breakouts could have started with the CAD, AUD and GBP around the weekend, while JPY and CHF are still nipping at the USD's ankles in terms of performance.
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