|

EURUSD - We look to Sell at 1.0700

EUR/USD - We look to Sell at 1.0700 (stop at 1.0740).

EURUSD - Continued upward momentum from 1.0521 resulted in the pair posting net daily gains yesterday. The rally is close to an exhaustion count on the intraday chart. Bespoke resistance is located at 1.0700. The AB=CD formation target is located at 1.0465. Trend line support is located at 1.0465. Our profit targets will be 1.0465 and 1.0420.

First 4 Trading

EURUSD Current Trading Positions

Sell 58%
Buy 42%
100.0%58.0%055606570758085909510000.10.20.30.40.50.60.70.80.910
Avg Sell Price 1.0675
Avg Buy Price 1.0674
Liquidity Distribution
1.03501.06751.1035200.10.20.30.40.50.60.70.80.911.100.10.20.30.40.50.60.70.80.911.03501.06751.10352SellBuy

Author

Pia-first Team

Our analysis service is provided by 4 market professionals who have between them spent 85 years in investment bank and professional firm dealing rooms as traders, salesmen and analysts.

More from Pia-first Team
Share:

Editor's Picks

EUR/USD makes a U-turn, focus on 1.1900

EUR/USD’s recovery picks up further pace, prompting the pair to retarget the key 1.1900 barrier amid further loss of momentum in the US Dollar on Wednesday. Moving forward, investors are expected to remain focused on upcoming labour market figures and the always relevant US CPI prints on Thursday and Friday, respectively.

GBP/USD sticks to the bullish tone near 1.3660

GBP/USD maintains its solid performance on Wednesday, hovering around the 1.3660 zone as the Greenback surrenders its post-NFP bounce. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold holds on to higher ground ahead of the next catalyst

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of modest losses in the US Dollar and despite firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.

Ripple Price Forecast: XRP sell-side pressure intensifies despite surge in addresses transacting on-chain 

Ripple (XRP) is edging lower around $1.36 at the time of writing on Wednesday, weighed down by low retail interest and macroeconomic uncertainty, which is accelerating risk-off sentiment.

US jobs data surprises to the upside, boosts stocks but pushes back Fed rate cut expectations

This was an unusual payrolls report for two reasons. Firstly, because it was released on  Wednesday, and secondly, because it included the 2025 revisions alongside the January NFP figure.

XRP sell-off deepens amid weak retail interest, risk-off sentiment

Ripple (XRP) is edging lower around $1.36 at the time of writing on Wednesday, weighed down by low retail interest and macroeconomic uncertainty, which is accelerating risk-off sentiment.