EUR/USD makes u-turn, risk of more downsides

Aayush Jindal TitanFX

Key highlights

EUR/USD started a fresh decline from the 1.0945 resistance.
It traded below a rising channel with support at 1.0880 on the 4-hour chart.

EUR/USD technical analysis

Looking at the 4-hour chart, the pair traded below a rising channel with support at 1.0880. It settled below the 1.0800 level, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour).

A low was formed at 1.0686 and the pair is now consolidating losses. It is trading near the 23.6% Fib retracement level of the recent decline from the 1.0825 swing high to the 1.0686 low.

On the downside, immediate support sits near the 1.0685 level. The next key support sits near the 1.0650 level. Any more losses could send the pair toward the 1.0620 level.

On the upside, the pair could face resistance near the 1.0755 level. The first key resistance is near the 1.0775 level or the 61.8% Fib retracement level of the recent decline from the 1.0825 swing high to the 1.0686 low.

A close above the 1.0775 level could set the tone for another increase. The next major resistance could be 1.0800, above which the price could accelerate higher toward the 1.0820 resistance.

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.

EUR/USD weakens to near 1.1900 as traders eye US data

The EUR/USD pair loses ground to around 1.1905, snapping the two-day winning streak during the early European trading hours on Tuesday. Markets might turn cautious ahead of the release of key US economic data, including US employment and inflation reports that were pushed back slightly due to the recently ended four-day government shutdown.

GBP/USD edges lower below 1.3700 on UK political risks, BoE rate cut bets

The GBP/USD pair trades on a weaker note around 1.3685 during the European session on Tuesday. The Pound Sterling edges lower against the US Dollar amid political risk in the United Kingdom and rising expectations of near-term Bank of England rate cuts.

Gold drifts lower as positive risk tone tempers safe-haven demand; downside seems limited

Gold drifts lower during the Asian session on Tuesday and snaps a two-day winning streak, though it lacks strong follow-through selling and shows some resilience below the $5,000 psychological mark amid mixed cues. The outcome of Japan's snap election on Sunday removes political uncertainty, which, along with signs of easing tensions in the Middle East, remains supportive of the upbeat market mood.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.

Follow the money, what USD/JPY in Tokyo is really telling you

Over the past two Tokyo sessions, this has not been a rate story. Not even close. Interest rate differentials have been spectators, not drivers. What has moved USD/JPY in local hours has been flow and flow alone.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash (BCH) trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.