EUR/USD battling 1.1050 after the ECB, ahead of critical PMIs

EUR/USD is consolidating its losses around 1.1050 after the ECB's cautious message on Thursday. Lagarde, its president, will speak later. Coronavirus fears are somewhat receding. Forward-looking PMIs are eagerly awaited.

RECOMMENDED

EUR/USD News

GBP/USD holding its ground above 1.31 ahead of critical data

GBP/USD has been holding onto 1.31 as the US dollar retreats and ahead of Markit's preliminary PMIs, key figures that may determine the Bank of England's decision next week.

GBP/USD News

Forex Today: Markets take a break from coronavirus fears, forward-looking data eyed

Here is what you need to know on Friday, January 24: Coronavirus: While the number of cases continues rising and China canceled several New Year's cel
Read more

Gold: Portrays rising trend-channel on H4, Coronavirus in focus

Gold prices lack momentum while trading around $1,561.50 during early Friday. Even so, the bullion stays inside a short-term ascending trend-channel formation that portrays the strength of the underlying momentum.

Gold News

Jose Blasco Course

Crypto Today: Bitcoin claws back its market share

BTC/USD is currently trading at $8,307 (-2.5% on a day-to-day basis). The coin has been moving within a short-term bullish trend during early Asian hours.

More Cryptocurrencies News

Ethereum Classic Price Analysis: ETH/USD bears flip the bulls, target shifts to $5

Ethereum Classic is facing the ultimate correction following a massive bull-run that had it hit January highs around $12 from December lows at $3.41. The persuasive urge upwards has, however, ended in losses due to a lack of ...

More Ethereum Classic News

XRP/USD struggles to save triangle support at its peak

Ripple price struggles to stay above $0.22 support amid a forceful downtrend momentum from recent highs at $0.255. The formation of a falling triangle hints a bullish breakout if its support is defended and XRP bulls allowed to focus on $0.24 resistance.

More Ripple News

DASH Price Analysis: DASH/USD dips below the $100-mark

DASH/USD fell from $102.75 to $97.45, dropping below the $100-level in the process. DASH/USD has charted three straight bearish sessions in the daily chart after the bulls ran out of steam at the $110.60-level.

More Dash news

Murrey Math Lines: EUR/USD, GBP/USD

Murrey Math Lines: EUR/USD, GBP/USD

Intra-Day News and Views and data to be released today - USD/JPY

Strong labour market not enough to hold up AUD

SPECIAL YEARLY FORECAST

Markets' lean season has lasted two full years and while those are not yet over, flush times are looking more and more likely for this 2020. EUR/USD news: The beginning of the end of the trade war? Ever since hitting 1.2537 in January 2018, the EUR/USD pair has been on a selling spiral that set a multi-year low of 1.0878 just two months ago. The level can hardly be considered an interim bottom when just considering the following price’s recovery, but the focus this time shouldn’t be put on technical readings, but in politics.



Yohay Elam

EUR/USD has been unable to recover and remains below 1.11, in familiar ranges as the European Central Bank's decision is awaited.

The Technical Confluences Indicator is showing that euro/dollar is facing fierce resistance at 1.1094, which is a dense cluster including the Simple Moving Average 50-15min, the SMA 200-15m, the SMA 50-1h, the Bollinger Band 15min-Upper, the BB 4h-Middle, the Fibonacci 23.6% one-day, and the Fibonacci 61.8% one-month.

It is closely followed with additional resistance lines culminating at 1.1151, which is the convergence of the Pivot Point one-week Resistance 1 and the Fibonacci 38.2% one-month.

Looking down, some support awaits at 1.1071, which is the confluence of the PP one-month Support 1, the previous day's low, the BB 1d-Lower, and the PP 1w-S1.

Further down, the next target is 1.1002, which is where the previous month's low hit the price.

Read Full Report

NEXT LIVE SHOWS

Date Event Title Sponsor More Info
Premium US Pre-Market Open Ed Ponsi, CTA Event Details
Premium US Session Open Ed Ponsi, CTA Event Details
Premium Best Markets to Trade in 2020 Nenad Kerkez Event Details
Premium US Pre-Market Open Ed Ponsi, CTA Event Details