EUR/USD could recover, Bitcoin price clears $30k

Aayush Jindal TitanFX

Key highlights

EUR/USD is attempting a recovery wave above the 1.0550 resistance.
Bitcoin price started a steady increase and cleared the $30,000 resistance.

EUR/USD technical analysis

Looking at the 4-hour chart, the pair managed to surpass the 1.0550 resistance zone and the 100 simple moving average (red, 4 hours). However, the pair is now struggling to rise above the 1.0600 resistance and the 200 simple moving average (green, 4 hours).

There is also a key contracting triangle forming with resistance near 1.0600 on the same chart. If there is a move above the triangle resistance, the pair could rise toward 1.0640 resistance.

A close above the 1.0640 level is needed to start a steady increase. The next key resistance is near 1.0700, above which the pair could rise toward the 1.0780 level.

If there is a fresh decline, the pair might find bids near 1.0565. The next key support is seen near the 1.0550 level, below which it could test 1.0500. Any more losses might send the pair toward the 1.0450 level.

Author

Aayush Jindal

TitanFX

I have spent over six years as a financial markets contributor and observer, and possess strong technical analytical skills. I am a software engineer by profession, loves blogging and observing financial markets.

GBP/USD revisits 1.3530; Dollar pushes harder

GBP/USD adds to the weekly correction and recedes toward the 1.3530 zone on Friday. Indeed, Cable faces increasing selling pressure on the back of extra gains in the Greenback, particularly fuelled by Chair Warsh’s speech at the Jackson Hole Symposium and the US NFP Annual Revision (-79K).

EUR/USD breaches below 1.1600, multi-day lows

EUR/USD now accelerates its decline and retreats to seven-day troughs in the sub-1.1600 region at the end of the week. The pair’s pullback comes on the back of the strong rebound in the US Dollar after Chair Warsh delivered a hawkish message in Jackson Hole, while the US NFP Annual Revision came in at -79K.

Gold challenges its 200-day SMA near $4,530

Gold’s decline gathers fresh steam, hitting weekly lows while disputing its critical 200-day SMA near $4,530 per troy ounce. The yellow metal’s increasing weakness comes in response to the generalised upbeat tone in the US Dollar and the widespread rebound in US Treasury yields, as investors continue to reprice a Fed rate hike in September.

Crypto Today: Bitcoin, Ethereum, XRP rally loses steam despite steady ETF inflows

Bitcoin is back below $80,000 at the time of writing on Friday, after a second attempt at breaking resistance between $81,000 and $82,000. Meanwhile, Ethereum and Ripple mirror Bitcoin’s cooling trend, with ETH sliding to $2,500 and XRP falling toward $1.40 support.

Week ahead – RBNZ and BoC decide on rates ahead of all-important US NFP

Dollar rebounds ahead of ISM PMI and NFP data. RBNZ is expected to raise rates; focus to fall on forward guidance. BoC is set to remain on hold; will it raise rates in 2027?

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.