EURUSD holds in directionless mode ahead of Fed

Slobodan Drvenica Windsor Brokers

EURUSD

The Euro continues to thread water, holding within a narrow range around 1.1000 handle, awaiting hints from Fed, due later today. The pair trades in directionless mode for a couple of sessions, but overall bias remains negative.
Initial attempts below 1.1000 were contained at 1.0950, with subsequent upside rejection at 1.1038 yesterday, when bearish candle with long upper shadow was left, signaling limited upside actions.
Plethora of good resistances lies above near-term congestion and maintaining downside pressure for now. Falling 10SMA, now lowered to 1.1022, marks initial barrier, followed by 20SMA at 1.1055 and pivotal barrier, 200SMA/Fibo 61.8% of 1.1163/1.0950 downleg at 1.1075/82 zone. Only sustained break here would signal fresh direction upside.
On the downside, lows of today/yesterday at 1.0977/79, mark immediate support, guarding downside pivot at 1.0950 zone (lows of 25/22 July), loss of which would open way towards key 1.0909 support.

Res: 1.1022; 1.1039; 1.1055; 1.1080
Sup: 1.0977; 1.0950; 1.0937; 1.0909

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

EUR/USD struggles near 1.1850, with all eyes on US CPI data

EUR/USD holds losses while keeping its range near 1.1850 in European trading on Friday. A broadly cautious market environment paired with a steady US Dollar undermines the pair ahead of the critical US CPI data. Meanwhile, the Eurozone Q4 GDP second estimate has little to no impact on the Euro.

GBP/USD recovers above 1.3600, awaits US CPI for fresh impetus

GBP/USD recovers some ground above 1.3600 in the European session on Friday, though it lacks bullish conviction. The US Dollar remains supported amid a softer risk tone and ahead of the US consumer inflation figures due later in the NA session on Friday.

Gold remains below $5,000 as US inflation report looms

Gold retreats from the vicinity of the $5,000 psychological mark, though sticks to its modest intraday gains in the European session. Traders now look forward to the release of the US consumer inflation figures for more cues about the Fed policy path. The outlook will play a key role in influencing the near-term US Dollar price dynamics and provide some meaningful impetus to the non-yielding bullion.

US CPI data set to show modest inflation cooling as markets price in a more hawkish Fed

The US Bureau of Labor Statistics will publish January’s Consumer Price Index data on Friday, delayed by the brief and partial United States government shutdown. The report is expected to show that inflationary pressures eased modestly but also remained above the Federal Reserve’s 2% target.

The weekender: When software turns the blade on itself

Autonomous AI does not just threaten trucking companies and call centers. It challenges the cognitive toll booths that legacy software has charged for decades. This is not a forecast. No one truly knows the end state of AI.

Solana Price Forecast: Mixed market sentiment caps recovery

Solana (SOL) is trading at $79 as of Friday, following a correction of over 9% so far this week. On-chain and derivatives data indicates mixed sentiment among traders, further limiting the chances of a price recovery.