EUR/USD
The Euro eases from new 2 –1/2 month high (1.2176) as traders collect some profits from massive rally on Thu/Fri, with Friday’s 0.87% advance marking the biggest one-day rally in 2021.
Weekly close above important Fibo barrier at 1.2102 (61.8% of 1.2349/1.1704), where bulls were trapped last week, generated strong bullish signal.
Next targets at 1.2197/1.2242 (Fibo 76.4%/Feb 25 spike high) are in focus, with shallow dips to be ideally contained by broken Fibo 61.8% and broken bear-trendline at 1.2102/1.2084, to keep bulls intact.
Res: 1.2176; 1.2197; 1.2242; 1.2272
Sup: 1.2126; 1.2102; 1.2084; 1.2048
Interested in EUR/USD 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
AUD/USD holds above 0.6500 in thin trading
The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.
EUR/USD comfortable below 1.0800 lower lows at sight
The EUR/USD pair lost ground on Thursday and settled near a fresh March low of 1.0774. Strong US data and hawkish Fed speakers comments lead the way ahead of the release of the US PCE Price Index on Friday.
Gold pulls away from daily highs, holds above $2,200
Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Thursday. The benchmark 10-year US Treasury bond yield stays near 4.2% after upbeat US data and makes it difficult for XAU/USD to gather further bullish momentum.
Google starts indexing Bitcoin addresses
Bitcoin address data is live on Google search results after users realized on Thursday that the tech giant started indexing Bitcoin blockchain data. However, mixed reactions have followed the tech giant's reversed stance on the cryptocurrency.
A Hollywood ending for fourth quarter GDP
The latest revisions put Q4 GDP at 3.4%, the second fastest quarterly growth rate in two years. Much of the upside was attributable to stronger consumer spending, yet fresh profits data affirmed it was a good quarter for the bottom line as well with profits up by the most since the Q2-2022.