EURUSD: Above 1.0830 trades higher

Carol Harmer Charmer Trading

EURUSD

We still have the gap down to 10780, but currently we are holding above the 38.2 short term fib....at 10830...So this really is the key for today....If we can hold above this 10830 area then we can hopefully trade higher...On the above chart you can see that we have a small topping pattern.....but our 4H stochastic are slightly bullish....

Now sadly...the daily ones are showing different....these are showing overbought and beginning to turn...Now as we have remained static below 10950 This could be the key to direction...

Although the market is looking stronger overall since holding 10570 there is a case to answer for a correction...we would look for correction down to 10780...I think at these lower levels there will be profit taking...and some buyers....I think also that if we lose this 10770 area further weakness will be evident with 10640 then the targeted area...

Now if we can make the break above 10950.remember , keeping our eyes on the daily stochastic....but if we can then there is no reason we cannot trade higher and go towards key resistance at 1.1035...

EURUSD Current Trading Positions

Sell 67%

Buy 33%

Avg Sell Price 1.0867

Avg Buy Price 1.0739

Liquidity Distribution

Author

Carol Harmer

Charmer Trading

Carol Harmer has over 39 years experience of analysing and trading the world's markets and is undoubtedly one of the most respected technical trader in the world today.

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.