Forex Today: Risk rebounds on renewed US-China trade talks, UK retail sales in focus

The risk-on sentiment was the main theme in Asia this Thursday on a rebound in appetite for risk assets amid calming fears over Turkey, as Qatar pledged to aid Turkey. Also, renewed US-China trade talks provided additional lift to the market sentiment.


Macroeconomics News

EUR/USD: US/China trade talks a big positive, focus on today's close after doji

Riskier assets and the EUR scored gains in Asia, possibly due to the news that Chinese officials will be traveling to the United States for trade talks in late August.


GBP/USD trying to hang on to 1.27 ahead of UK retail sales

The GBP/USD is trading near the 1.2700 level ahead of Thursday's London market session as fears of a no-deal Brexit continue to rise and inflation figures for the UK barely make it to expectations.


USD/JPY Review: the pair remains bid despite BOJ rate hike talk

Currently, the USD/JPY is trading at 110.83, having clocked a session high of 110.93 earlier today. The JPY doesn't find any takers despite MNI reporting earlier today that the Bank of Japan...


Bitcoin price analysis: Resumes uptrend above $6,300; Jim Cramer – the sun seems to be setting on Bitcoin

Bitcoin maintained the uptrend in spite of the subtle double top pattern formed during the trading session yesterday, although there were short-term lower corrections that found support at $6,300. 

More Bitcoin News

Monero Technical Analysis: XMR/USD shoots for the starts in huge come back rally, in a mission for $100 reclaims

Monero was seen up in the late part of Wednesday's session, with gains seen above 9%. XMR/USD staged a decent rebound, with a mass recovery of losses being seen across the market.

More Monero News

EOS Technical Analysis: EOS/USD failure to reclaim $5 mark, bears bite in attempt to sell rally

EOS was seen up a decent 4.5% in the latter stages of trading on Wednesday. EOS/USD ran into sellers ahead of the $5 mark, in an area that previously acted as support.

More EOS News

BTCUSD Analysis: Bitcoin keeps fighting to hold above this level [Video]

The latest topside failure keeps the downtrend firmly intact and puts the pressure back on the downside, with a fresh lower top sought out around $8,490, to be confirmed on a bearish continuation below the 2018 low. In this analysis, we take a look at Bitcoin each day, highlighting all of...

More Bitcoin News

EUR/USD Forecast: Scope for some more near-term short-covering bounce

GBP/USD Forecast: Descending trend-line to limit any further recovery, UK retail sales data eyed

USD/ CAD: US dollar attempts to hold at 1.31275

AUDUSD Elliott Wave View: More Downside Is Expected

Valeria Bednarik

Turkish lira collapse spread like wildfire among high-yielding assets

The collapse of the Turkish Lira and ECB's concerns about local banks' exposure to it overshadowed everything else. The EUR/US pair plunged to 1.1431 early Friday, its lowest since July 2017, as multiple factors conspired to boost the greenback.

Yohay Elam

The EUR/USD consolidated its losses and is looking for a new direction. In order to stage a recovery and not only a dead-cat bounce, there are some hurdles to cross.

The Technical Confluences Indicator shows that the 1.1444 is a convergence of potent technical lines: the Fibonacci 161.8% one-month, the Bolinger Band 4h-Middle, and the Bolinger Band one-day Lower. We also find Fibonacci 23.6% one-week just above.

A break will open the door to another resistance line close by 1.1474 which is the confluence of the Pivot Point one-month Support 2, and the Pivot Point one-day Resistance 2.

Support is at 1.1365 which is the meeting point of the recent 2018 low, the Pivot Point one-month Support 3, and the PP one-day Support 1.

Further down, there are very few support lines with one noteworthy point at 1.1326 which is the Fibonacci 161.8% one-day.

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