EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.0184

Despite euro's rally above previous Aug's 1.0293 high to a 5-week peak of 1.0368 last Wed, subsequent decline to 1.0123 (Tue) signals rise from Jul's 20-year 0.9953 low has possibly ended, yesterday's rebound to 1.0202 on less-hawkish FOMC minutes would yield range trading before fall and a daily close below 1.0112 would head towards 1.0097.

On the downside, only a daily close above 1.0202 may prolong choppy swings and risk stronger gain to 1.0223/33 before down.

Data to be released on Thursday

Australia employment change, unemployment rate.
Swiss exports, imports, trade balance, EU construction output, HICP.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, Canada producer prices, U.S. existing home sales and leading index change.

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AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

EUR/USD hovers around nine-day EMA above 1.1800

EUR/USD remains in the positive territory after registering modest gains in the previous session, trading around 1.1820 during the Asian hours on Monday. The 14-day Relative Strength Index momentum indicator at 54 is edging higher, signaling improving momentum. RSI near mid-50s keeps momentum balanced. A sustained push above 60 would firm bullish control.

GBP/USD holds medium-term bullish bias above 1.3600

The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s interest-rate cut weighs on the Pound Sterling against the Greenback.

Gold sticks to gains above $5,000 as China's buying and Fed rate-cut bets drive demand

Gold surges past the $5,000 psychological mark during the Asian session on Monday in reaction to the weekend data, showing that the People's Bank of China extended its buying spree for a 15th month in January. Moreover, dovish US Federal Reserve expectations and concerns about the central bank's independence drag the US Dollar lower for the second straight day, providing an additional boost to the non-yielding yellow metal.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

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Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.