EURUSD Analysis: Looking for that next bottom

LMAX Group Research Desk LMAX Group

The Euro is in the process of trying to look for a bottom after dropping down to fresh 2018 lows. Despite the intense setbacks, the weakness is viewed as a correction within a more meaningful medium-term uptrend, with that next higher platform sought out in favor of a bullish continuation back towards and through 1.2550.

In this analysis, we take a look at EURUSD each day, highlighting all of the need to knows for anyone looking to extract up to date information on the major levels and relevant trends, both short-term and longer-term. The analysis is designed for the trader, investor and even those simply holding Euro or US Dollars, looking for an idea of where they may want to consider making that next conversion.

The EURUSD update is new each day and is presented with an added layer of animation, in an effort to make the analysis as engaging as possible, while also communicating the message with respect to key trends and levels in an easy to understand, seamless manner with great value-add to all.

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LMAX Group Research Desk

LMAX Group

LMAX Group is a dynamic, visionary and award-winning financial technology company.

EUR/USD hits two-day highs near 1.1820

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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.

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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.