Slobodan Drvenica
Windsor Brokers
EUR/USD
EURUSD remains steady and holding near 3 ½ month high on Tuesday, with little impact from weaker than expected EU economic data.
Bulls continue to pressure cracked Fibo resistance at 1.0559 (61.8% of 1.1275/1.0448, which proved to be significant barrier, after rsisting two attacks.
Bulls remain firmly in play on daily chart, with strong positive momentum, moving averages in bullish configuration and converging 20/200DMA’s about to form a golden cross and reinforce signal, while the action remains supported by rising thick weekly Ichimoku cloud.
Rising 10DMA, which tracks the price action for almost one month, offers initial support at 1.0909, where downticks should find firm ground, to keep bulls intact and guard lower pivots at 1.0862/52 (broken Fibo 50% / Nov 17 higher low.
Firm break of 1.0959 barrier to generate initial signal of bullish continuation and expose next targets at 1.1000/80 (psychological/Fibo 76.4% of 1.1275/1.0448).
Caution on possible extended consolidation/shallow pullback as daily studies are entering overbought territory.
Expect stronger signals from economic data (EU CPI/US GDP and PCE) due on Wed/Thu.
Res: 1.0965; 1.1000; 1.1065; 1.1080.
Sup: 1.0925; 1.0909; 1.0862; 1.0852.
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
GBP/USD rebounds toward 1.3450 after losing over 1% in previous session, UK CPI eyed
GBP/USD edges higher after registering over 1% losses in the previous day, trading around 1.3440 during the Asian hours on Wednesday. Traders will focus on the UK Consumer Price Index data for May, scheduled to be released later in the day.
EUR/USD holds positive ground near 1.1500 ahead of Fed rate decision
The EUR/USD pair attracts some buyers to around 1.1500 during the Asian trading hours on Wednesday. A slew of downbeat US economic data weigh on the Greenback. However, escalating Israel-Iran tensions might cap the upside for the major pair. The US Federal Reserve rate decision will be closely watched later on Wednesday.
Gold price flat lines below $3,400; looks to Fed for some meaningful impetus
Gold price struggles to gain traction as traders remain on the sidelines ahead of the Fed rate decision. The USD retreats from the weekly high amid Fed rate cut bets and lends support to the commodity. Trade-related uncertainties and rising geopolitical tensions further benefit the safe-haven XAU/USD.
Bitcoin, Ethereum and Ripple dips as US involvement in Israel-Iran conflict looms
Bitcoin, Ethereum and Ripple prices hovered around key levels on Wednesday after falling the previous day. The crypto market turned risk-averse amid growing concerns that the United States could intervene in the escalating conflict between Israel and Iran.
Chinese data suggests economy on track to hit 2025 growth target
China's May data was mixed with strong retail sales, but soft readings on fixed-asset investment and property price. Overall, though, data suggests that China remains on track to achieve its growth target in the first half of 2025.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.