|

EURUSD: Further upside is likely?

EURUSD still consolidated in the triangle.

On daily chart, we see a textbook 5 wave up from December 2016.

The price also continuous closed above daily Ichimoku cloud.

Near term overshoot to 1.2456/1.2500 could not be ruled out.

But weekly long term downtrend line is just ahead.

Unless we see a clear close above 1.2596/1.2650, upside should be limited from current level.

If today close below 1.2347, that will be the first pullback sign.

We still look to trade short term extremes and wait for directional opportunities.

EURUSD Trade Idea:

Sell limit @ 1.2424 stop 1.2461 for 1.2359

Click on the image to enlarge

EURUSD Chart 1
EURUSD Chart 2

Author

Yue Wang

Yue Wang

LinoCapital

Master's Degree in Hepatobiliary Surgery. 

More from Yue Wang
Share:

Editor's Picks

EUR/USD deflates to multi-week lows near 1.1640

EUR/USD is down for the third straight day on Thursday, coming under extra downside pressure and approaching its transitory 55-day SMA around 1.1640 amid tge persistent recovery in the Greenback. Moving forward, market participants should remain prudent ahead of the release of Friday’s US NFP figures.

GBP/USD: Further weakness could challenge 1.3400

GBP/USD remains under unabated selling pressure on Thursday, slipping to fresh three-day lows around 1.3415 in response to further improvement in the sentiment surrounding the Greenback ahead of Friday’s key NFP data.

Gold edges lower as bulls opt to wait for the crucial US NFP report

Gold struggles to capitalize on the previous day's goodish move up from the vicinity of the $4,400 mark and attracts some sellers during the Asian session on Friday as bulls seem reluctant ahead of the US NFP report. The critical US employment details will offer more cues about the Fed's rate-cut path, which, in turn, will influence the US Dollar price dynamics and provide a fresh impetus to the non-yielding bullion. In the meantime, dovish Fed expectations and rising geopolitical tensions might continue to act as a tailwind for the XAU/USD.

XRP slides as institutional and retail demand falters

Ripple (XRP) is trading down for the third consecutive day on Thursday amid escalating volatility in the cyrptocurrency market. After peaking at $2.41 on Tuesday, its highest print since November 14 amid the early-year rally, XRP has quickly ran into aggressive profit-taking.

2026 economic outlook: Clear skies but don’t unfasten your seatbelts yet

Most years fade into the background as soon as a new one starts. Not 2025: a year of epochal shifts, in which the macroeconomy was the dog that did not bark. What to expect in 2026? The shocks of 2025 will not be undone, but neither will they be repeated.

XRP slides as institutional and retail demand falters

Ripple is trading down for the third consecutive day on Thursday amid escalating volatility in the cyrptocurrency market. After peaking at $2.41 on Tuesday, its highest print since November 14 amid the early-year rally, XRP has quickly ran into aggressive profit-taking.