EURUSD: Support at 1.0525 still the key level

Carol Harmer Charmer Trading

SUPPORT: 10523/20 10462 10425 10335 10235 10180* 10010*

RESISTANCE: 10575 10660 10720 10780/90 10850/55 10890 10920 10955 10980 11035

Euros have bounced off support @ 10525 yet again and once more this will be the key...If we can maintain above this area then the market has yet another go at good resistance located at 10660 and 10720....we would look to cover all longs to these higher levels...we would then look to re-instate further longs above 10745 as a break above here keeps the immediate bias to the topside and leaves the way clear for the market to rally back towards the 10780/90 area possibly the 10850 once again...we now this resistance is key...we also know with FOMC coming up Wednesday that this market can go anywhere ...so caution is the way forward until FOMC out of the way....I think this recent sell off in Euros is just a correction and as we still have not broken through any key levels on the downside we would still at this point buy into weakness...short term a little overbought...but we should be able to come back towards the 10540 area where we would be buyers once more....If below 105 look for 10460...go long once more...stops below 10430 and this time we will reverse long trades...

Interested in EURUSD technicals? Check out the key levels

1. R3 1.0580
2. R2 1.0566
3. R1 1.0555
PP 1.0541
1. S1 1.0530
2. S2 1.0516
3. S3 1.0505

Author

Carol Harmer

Charmer Trading

Carol Harmer has over 39 years experience of analysing and trading the world's markets and is undoubtedly one of the most respected technical trader in the world today.

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.