EURUSD: Neutral

Jim Langlands FX Charts

EURUSD: 1.1905

Preferred Strategy: The dallies remain negative so selling into strength is preferred. Sell EurUsd @ 1.1960. SL @ 1.2010. TP @1.1600

24 Hour: Neutral.		Medium Term: Prefer to sell rallies
Resistance		Support
1.2055	Minor	1.1900	Minor
1.2033	20 Sept high	1.1885	Minor
1.2003	Friday high	1.1860	(23.6% of 1.1118/1.2091)/20 Sept low
1.1980	Minor	1.1838	14 Sept low
1.1955/60	200 HMA/100 HMA	1.1800	Minor

Economic data highlights will include:

M: German IFO, Chicago Fed National Activity Index, Dallas Fed Mfg Business Climate

T: US Case Shiller House Price Index, New Home Sales, Richmond Fed Mfg Index, API weekly Crude Oil Stock Inventory

W: US Durable Goods, Pending Home Sales, EIA weekly crude oil stock change

T: German Consumer Confidence, CPI, EU Economic Sentiment Indicator, Industrial Confidence, Services Sentiment, Business Climate, US Jobless Claims, Q2 GDP, Kansas Fed Mfg Activity, Personal Consumption/Expenditure Q2

F: German Retail Sales, Unemployment, US Personal Consumption/Expenditure Index, Michigan Consumer Sentiment Index

Author

Jim Langlands

FX Charts

Jim Langlands began his trading career in the commodities markets in London in 1976, before moving to Australia in 1979 to work as a floor trader on the Sydney Futures Exchange.

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.