EUR/USD: The market is now retreating to test the support around 1.1695 [Video]

Richard Perry Independent Analyst

EUR/USD

The pair has spent the past twelve weeks trading in a 400 pip range between 1.1610/1.2010. There have been drifts higher, there have been drifts lower. Currently we see the market has fallen over at 1.1830 in the past week and is drifting lower. Momentum indicators reflect a mild drift lower rather than anything more significant at this stage. I tis also interesting that the market is now retreating to test the support around 1.1695. Although this is no longer a key support, it has been a good gauge of a floor in recent weeks and a closing breakdown would re-open the key 1.1610 lows again. Each of the past four sessions has seen lower daily highs, so this trend will continue unless there is a break above 1.1760 today. However, the hourly chart shows initial resistance is around 1.1720 this morning. A gauge of improvement would also be seen if hourly RSI went above 60 and MACD lines moved above neutral. Until then, we favour using ticks higher to be a chance to sell for pressure towards 1.1610.

Author

Richard Perry

Independent Analyst

EUR/USD clings to gains around 1.1800

EUR/USD manages to regain composure and retests the 1.1800 region in quite a positive start to the week. The pair’s bounce follows the US Dollar’s offered stance post-SCOTUS ruling ahead of important US data and Fedspeak on Tuesday.

GBP/USD treads water near 1.3500 as BoE-Fed divergence debate stalls

GBP/USD spent Monday spinning in place as market participants await a fresh catalyst to break the pair out of its recent range. The BoE's February hold came with a surprisingly dovish 5-4 split, and UK Consumer Price Index data last week showed inflation easing to 3.0%, reinforcing the case for earlier rate cuts, with most economists now looking to April or March for the next move.

Gold climbs above $5,200 on geopolitical tensions, trade uncertainty

Gold price jumps to around $5,230 during the early Asian session on Tuesday. The rally of the precious metal is bolstered by heightened geopolitical tensions and global trade uncertainty following US tariff decisions. Traders brace for the US January Producer Price Index report on Friday for fresh impetus.

Solana DeFi platform Step Finance to close operations following treasury hack

The Solana based decentralized finance platform Step Finance announced it will end all operations effective immediately following a breach that drained its treasury.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

XRP recovers slightly as bearish sentiment dominates crypto market

Ripple is rising above $1.40 at the time of writing on Monday amid fresh tariff-triggered headwinds in the broader cryptocurrency market. The sell-off to $1.33, the token’s intraday low, can be attributed to macroeconomic uncertainty, geopolitical tensions and risk-averse sentiment among other factors.