EUR/USD

EURUSD continued to benefit from growing expectations of an end of Fed’s tightening cycle and talks about rate cuts and hit new multi-week high on Tuesday.

Fresh extension higher cracked important Fibo resistance at 1.0959 (61.8% retracement of 1.1275/1.0448 downtrend) the last obstacle on the way to psychological 1.10 barrier.

Bulls remain firmly in play on daily chart (very strong positive momentum / multiple MA bull-crosses) but overbought conditions warn of possible strong headwinds at this zone, which may pause bulls for consolidation.

Dips should find ground above broken Fibo 50% (1.0862) and a higher base at 1.0830 zone to keep larger bulls in play for further gains, with break of 1.0959/1.1000 pivots to spark fresh acceleration higher.

Fed minutes is the key release today, as markets expect more details about the US central bank’s next steps, while ECB’s President Lagarde speech (due later today) will be also closely watched.

Res: 1.0959; 1.1000; 1.1065; 1.1080.
Sup: 1.0899; 1.0862; 1.0824; 1.0813.

Chart

Interested in EUR/USD technicals? Check out the key levels

    1. R3 1.1018
    2. R2 1.0985
    3. R1 1.0963
  1. PP 1.0931
    1. S1 1.0909
    2. S2 1.0876
    3. S3 1.0855

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


Recommended Content

Editors’ Picks

EUR/USD extends recovery toward 1.0750

EUR/USD extends recovery toward 1.0750

EUR/USD preserves its recovery momentum and edges higher toward 1.0750 on Monday, after closing the previous week in negative territory. The improving risk mood makes it difficult for the US Dollar to find demand and helps the pair stretch higher.

EUR/USD News

GBP/USD rises toward 1.2700 on renewed USD weakness

GBP/USD rises toward 1.2700 on renewed USD weakness

GBP/USD trades in the green near 1.2700 in the second half of the day on Monday. After outperforming its rivals on upbeat PMI data on Friday, the US Dollar stays on the back foot amid a positive shift in risk sentiment, allowing the pair to extend its rebound.

GBP/USD News

Gold clings to modest daily gains near $2,330

Gold clings to modest daily gains near $2,330

After a quiet European session, Gold edges higher toward $2,330. Following Friday's sharp decline, XAU/USD manages to hold its ground as the benchmark 10-year US Treasury bond yield struggles to push higher, while the USD weakens on upbeat market mood.

Gold News

Week ahead: Bitcoin dips under $63,000, meme coins fade with steep correction in top five

Week ahead: Bitcoin dips under $63,000, meme coins fade with steep correction in top five

Bitcoin dipped under $63,000 on Monday, lowering crypto market capitalization by over 3%, per CoinGecko data. BTC is in a state of decline, and news of VanEck’s Spot Bitcoin ETF launch in Australia failed to improve traders' sentiment. 

Read more

Three things to watch this week: Key elections and inflation data

Three things to watch this week: Key elections and inflation data

 This week we have some key elections in France and the UK, and we get inflation data from the US and major European economies that will determine the course of interest rates in the coming months.

Read more

Majors

Cryptocurrencies

Signatures