EUR/USD
The Euro is trading within narrow range in European session on Thursday, holding below psychological 1.10 barrier (also Wednesday's high).
Negative impact from weaker than expected German Manufacturing PMI (May 36.8 vs 39.2 f/c) was partially offset by solid Services PMI figure and EU Manufacturing/Services PMI's both beating forecast.
Bulls face strong headwinds from 1.1013/17 resistance zone (1 May high/200DMA) and risk of stall is evident on rising bearish momentum and overbought daily stochastic. Initial negative signal could be expected on close below 100DMA (1.0965), with extension below 55DMA (1.0924) to add pressure, while break below converged 10/20/30 DMA's (1.0870) would bring bears fully in play. Conversely, lift and close above 200DMA would signal bullish continuation.
Res: 1.1000; 1.1014; 1.1065; 1.1087
Sup: 1.0965; 1.0924; 1.0902; 1.0870
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
EUR/USD stays below 1.0800 after upbeat US data
EUR/USD stays under bearish pressure and trades slightly below 1.0800 in the American session on Thursday. The data from the US showed that the real GDP growth for the fourth quarter got revised higher to 3.4% from 3.2%, supporting the USD and weighing on the pair.
GBP/USD stays in daily range above 1.2600
GBP/USD fluctuates in a narrow channel above 1.2600 on Thursday. The better-than-expected Initial Jobless Claims data from the US and the upward revision to the Q4 GDP growth helps the USD stay resilient against its rivals and limits the pair's upside.
Gold clings to strong daily gains above $2,200
Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays above 4.2% after upbeat US data and makes it difficult for XAU/USD to preserve its bullish momentum.
XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC
XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase.
Portfolio rebalancing and reflation trades emerge into Q2
Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.