EUR/USD
The Euro stands at the back foot in early European trading on Tuesday and pressuring Friday’s low at 1.1066, following strong recovery rejection at 1.11 zone and Monday’s bearish close, which marked the fifth straight daily close in red.
The single currency is pressured by strong dollar and political instability in Italy that keeps risk of final attack at psychological 1.10 support, however, further hesitation ahead of 1.10 pivot should be anticipated, as daily stochastic is deeply oversold and momentum is rising.
Potential upticks are expected to offer better selling opportunities while capped by converging falling 20/10 DMA’s (1.1141/45 respectively).
Res: 1.1088; 1.1113; 1.1136; 1.1145
Sup: 1.1073; 1.1066; 1.1026; 1.1000
Interested in EURUSD technicals? Check out the key levels
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.
Recommended Content
Editors’ Picks
EUR/USD extends losses on dovish remarks from ECB members, trades near 1.0780
EUR/USD continues its downward trend for the fourth consecutive day, driven by a stronger US Dollar influenced by the hawkish market sentiment surrounding the Federal Reserve and expectations of prolonged higher interest rates.
GBP/USD trades sideways above 1.2600 amid quiet session
The GBP/USD pair trades sideways around 1.2622 during the early Friday. The market is likely to be mute in light trading on Good Friday. Later in the day, the US Core Personal Consumption Expenditures Price Index will be released.
Gold ends Q1 2024 at record highs, what’s next?
Gold is sitting at an all-time high of $2,236, lacking a trading impetus amid holiday-thinned conditions on Good Friday. Most major world markets, including the United States are closed in observance of Holy Friday, leaving volatility around Gold price highly subdued.
Ripple's move above this key level could trigger nearly 50% rally for XRP
Ripple price has overcome a critical resistance level and flipped into a support floor on the weekly time frame. This development happened while XRP tightly consolidated for roughly 250 days. As this coiling up comes undone, investors can expect XRP to kickstart a massive rally.
Will they won’t they cut rates is the question of Q2?
There has been some significant push back from Fed and Bank of England members around the timing of rate cuts, and the Bank of Japan still haven’t physically intervened in the FX market to stem yen weakness although they are threatening to do so.