EUR/USD targets gains

Aayush Jindal TitanFX

Key highlights

EUR/USD started a fresh increase from the 1.0775 support zone.
It broke a key bearish trend line with resistance at 1.0820 on the 4-hour chart.

EUR/USD technical analysis

Looking at the 4-hour chart, the pair climbed above the 1.0840 level, the 200 simple moving average (green, 4-hour), and the 100 simple moving average (red, 4-hour). It broke a key bearish trend line with resistance at 1.0820.

The pair even surpassed the 61.8% Fib retracement of the downward move from the 1.0948 swing high to the 1.0775 low. The pair is now showing positive signs above the 1.0900 level.

Immediate resistance sits near the 1.0935 level. The next resistance sits at 1.0950. A clear move above 1.0950 could open the door to more gains. In the stated case, the pair could rise and test 1.1050.

Immediate support is near the 1.0880 level. The next major support is near the 1.0850 level. A downside break and close below the 1.0850 support zone could open the doors for more losses. In the stated case, EUR/USD might decline toward the 1.0820 level.

Author

Aayush Jindal

TitanFX

I have spent over six years as a financial markets contributor and observer, and possess strong technical analytical skills. I am a software engineer by profession, loves blogging and observing financial markets.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.