EURUSD

Downside risk increases as Euro extends weakness below trendline support (1.1180) and key Fibo point at 1.1169 (61.8% of 1.1111/1.1263), after double upside rejection at 30SMA (Wed / Thu).
Weaker pound on fresh negative news regarding Brexit, drags the single currency, with stronger dollar adding pressure.
Eurozone’s Apr CPI came in line with expectations, but below previous month’s figure, that additionally weighs.
Fresh bearish momentum is building up and daily MA’s are in full bearish configuration, setting scope for further weakness, which looks for bearish signal on weekly close below cracked Fibo support at 1.1169.
Oversold daily stochastic warns that bears might be briefly paused.
Broken bull-trendline now marks solid resistance, with extended upticks expected to remain below a cluster of daily MA’s (5;10;20 SMA) and 4-hr cloud base at 1.1200 zone.

Res: 1.1180; 1.1200; 1.1224; 1.1246
Sup: 1.1158; 1.1147; 1.1134; 1.1111

EURUSD

 

Interested in EURUSD technicals? Check out the key levels

    1. R3 1.1273
    2. R2 1.1249
    3. R1 1.1214
  1. PP 1.119
    1. S1 1.1155
    2. S2 1.1131
    3. S3 1.1096

 

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD recovery reaches critical 1.1170 price zone

The EUR/USD pair bounced from a fresh multi-year low of 1.1106, although the advance stalled in the 1.1170 region, with the pair having been unable to extend gains beyond it since last Friday. Bulls to become more courageous if the advance extends beyond 1.1200.

EUR/USD News

GBP/USD modestly up for the day after flirting with 1.2600

The GBP/USD pair is poised to close in positive ground for the first time in ten days, a result of an extremely overbought dollar and US data giving bulls a reason to take some profits out of the table. Brexit chaos persists, Pound gains unlikely.

GBP/USD News

USD/JPY trades at weekly lows near 109.70 as risk aversion dominates

The USD/JPY pair met a renewed selling pressure in the American trading hours amid intensifying flight-to-safety and touched its lowest level in a week at 109.68.

USD/JPY News

Market confidence in doldrums as PMI surveys plummet

US and German PMI surveys failed to muster any form of confidence in the growth picture, with stocks and the dollar under pressure today. The UK political picture looks bleak, with the chances of a no-deal Brexit or general election rising with May’s departure. 

Read more

Gold jumps to weekly tops and retreats, still well bid near $1280 level amid risk-off mood

Gold built on its intraday positive move and spiked to fresh weekly tops, around the $1284 region in the last hour, albeit retreated a bit thereafter.

Gold News

Majors

Cryptocurrencies

Signatures