EURUSD breaks the short term range and moving up

Rupak Roy PreferForex

EURUSD breaks the short term range on upside on last week. According to the weekly view the price is still on a large range. Though on lower time frame the price is moving by maintaining bullish bias but we can’t say the bullish momentum is sufficient to maintain long term bullish bias until the break of the high of the larger range at 1.1713 which is the high of 2015. There is a support at 1.1290 which could be retest and the resistance at 1.1615 which might be the next target.

Interested in EURUSD technicals? Check out the key levels

1. R3 1.1438
2. R2 1.1433
3. R1 1.1427
PP 1.1422
1. S1 1.1416
2. S2 1.1411
3. S3 1.1405

Author

Rupak Roy

PreferForex

Founder of PreferForex, a reference website for FX traders For Education and Market Analysis. Roy holds Electronic and Electrical Engineering Degree. He has accumulated 8 years of forex market trading and deep market analysis knowledge.

EUR/USD: US Dollar to remain pressured until uncertainty fog dissipates

Unimpressive European Central Bank left monetary policy unchanged for the fifth consecutive meeting. The United States first-tier employment and inflation data is scheduled for the second week of February. EUR/USD battles to remain afloat above 1.1800, sellers moving to the sidelines.

GBP/USD softens to near 1.3600 as BoE hints further rate cuts

The GBP/USD pair loses ground to near 1.3610 during the early Asian session on Monday. The Pound Sterling softens against the Greenback amid growing expectations of the Bank of England’s interest-rate cut. Traders will take more cues from the Fedspeak later on Monday.

Gold holds gains near $5,000 as China's gold buying drives demand

Gold price clings to the latest uptick near $5,000 in Asian trading on Monday. The precious metal holds its recovery amid a weaker US Dollar and rising demand from the Chinese central bank. The delayed release of the US employment report for January will be in the spotlight later this week.

Bitcoin Weekly Forecast: The worst may be behind us

Bitcoin price recovers slightly, trading at $65,000 at the time of writing on Friday, after reaching a low of $60,000 during the early Asian trading session. The Crypto King remained under pressure so far this week, posting three consecutive weeks of losses exceeding 30%.

Weekly column: Saturn-Neptune and the end of the Dollar’s 15-year bull cycle

Tariffs are not only inflationary for a nation but also risk undermining the trust and credibility that go hand in hand with the responsibility of being the leading nation in the free world and controlling the world’s reserve currency.

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.