All through the week, the range in the EUR/USD pair tightened day after day, and Friday seems to be no exception: the pair trades within a symmetrical triangle approaching to its vertex, making of a break either side of the figure a pretty uneventful when it comes to giving a trading signal. Earlier today there was plenty of data in the EZ, with inflation and GDP readings for the area itself and some of the major countries, with EZ inflation steady at 0.3%, and GDP ticking higher yearly basis up to 0.8%.
The EUR/USD pair however failed to react to the news, stuck around 1.2450/60. The 4 hours chart shows still a neutral stance, with 20 SMA and indicators unable to set a direction. As commented on previous updates, a clear breakout above 1.2520 or below 1.2400 is required to see the pair gaining some directional strength, and move 30/50 pips.
View Live Chart for EUR/USD
The EUR/USD pair however failed to react to the news, stuck around 1.2450/60. The 4 hours chart shows still a neutral stance, with 20 SMA and indicators unable to set a direction. As commented on previous updates, a clear breakout above 1.2520 or below 1.2400 is required to see the pair gaining some directional strength, and move 30/50 pips.
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 stuck around $2,300 as market players lack directional conviction
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.