Key Highlights

EUR/USD started a fresh increase above the 1.2100 resistance zone.

GBP/USD rallied above the 1.4000 resistance, and gold price climbed above $1,830.

EUR/USD Technical Analysis

After forming a support base above 1.2000, the Euro started a fresh increase against the US Dollar. EUR/USD climbed above the 1.2050 and 1.2100 resistance levels to move into a positive zone.

Looking at the 4-hours chart, the pair gained pace after it cleared a connecting bearish trend line at 1.2020. There was a strong close above the main 1.2050 resistance and the 100 simple moving average (red, 4-hours).

The pair even climbed above the 1.2120 resistance and settled well above the 200 simple moving average (green, 4-hours). As a result, the pair cleared the last swing high at 1.2150.

An immediate resistance is near the 1.2200 zone. The next key resistance could be 1.2250. It is near the 1.618 Fib extension level of the key decline from the 1.2150 high to 1.1985 low.

On the downside, the previous resistance near 1.2120 and 1.2100 might provide support. The main support is now forming near the 1.2050 level.

Titan FX is registered and regulated in New Zealand under FSP388647. Our global headquarters and operational hub is located in Auckland, New Zealand.

Feed news

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD battles 1.21 after mixed US data

EUR/USD is trading above 1.21, choppy after US retail sales missed estimates with a drop of 1.3% but on top of upward revisions. Increases in producer prices accelerated last month.

EUR/USD News

GBP/USD bounces off two-month lows

GBP/USD has bounced off the fresh two-month low of 1.4034 but remains depressed. The delay in Britain's reopening is outweighing upbeat UK job figures. Tension is mounting ahead of the Fed.

GBP/USD News

XAU/USD looks to $1880 after recapturing $1858

Gold price is attempting a minor recovery above $1850, although the bulls appear to lack conviction, as the US dollar continues to hover near monthly highs.

Gold News

Bitcoin continues to range higher, but altcoins suffer

Bitcoin price has experienced a 32% upswing over the past six days and might retrace to gather more steam. Ethereum price performance is lackluster as it rallied roughly 17% in the same period as BTC.

Read more

Tesla still stuck in first gear

Tesla stock recovered last week as some investor enthusiasm finally returned to the stock with the release of the new Model S Plaid at Tesla's Freemont factory.

Read more

Majors

Cryptocurrencies

Signatures