Dollar continued to ease over Asian hours, with local equity indexes down along with US yields. Early Europe, the EUR/USD finds itself pressuring the weekly high, in fact overcoming if for a few pips, up to 1.3220, albeit quickly pulling back down to 1.3200. Data has been far from encouraging, with German unemployment below expected, but unemployment rate unchanged at 6.7%, and EZ economic sentiment down to 100.6.
The technical picture is mild bullish, with price above a flat 20 SMA and indicators in positive territory, but showing no upward strength, offering no directional signs at the time being. With inflation readings for Europe scheduled for Friday, is unlikely to see the pair setting a clear direction today, with the extremes of the range, 1.3150/1.3220 probably containing price action. A strong acceleration through any can trigger some 30 pips move, with 1.3240/50 as a possible bullish target, and 1.3120 to the downside.
View Live Chart for EUR/USD
The technical picture is mild bullish, with price above a flat 20 SMA and indicators in positive territory, but showing no upward strength, offering no directional signs at the time being. With inflation readings for Europe scheduled for Friday, is unlikely to see the pair setting a clear direction today, with the extremes of the range, 1.3150/1.3220 probably containing price action. A strong acceleration through any can trigger some 30 pips move, with 1.3240/50 as a possible bullish target, and 1.3120 to the downside.
View Live Chart for EUR/USD
Recommended Content
Editors’ Picks
EUR/USD declines below 1.0700 as USD recovery continues
EUR/USD lost its traction and declined below 1.0700 after spending the first half of the day in a tight channel. The US Dollar extends its recovery following the strong Unit Labor Costs data and weighs on the pair ahead of Friday's jobs report.
GBP/USD struggles to hold above 1.2500
GBP/USD turned south and dropped below 1.2500 in the American session on Thursday. The US Dollar continues to push higher following the Fed-inspired decline on Wednesday and doesn't allow the pair to regain its traction.
Gold slumps below $2,300 as US yields rebound
Gold extended its daily slide and dropped below $2,290 in the second half of the day on Thursday. The benchmark 10-year US Treasury bond yield erased its daily losses after US data, causing XAU/USD to stretch lower ahead of Friday's US jobs data.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.