Murrey math lines: EUR/USD, GBP/USD

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

On H4, the quotes are above the 200-day Moving Average, which signifies an uptrend. The RSI is testing the support line. Currently, we should expect the quotes to rise over 5/8 (1.0376) and grow to the resistance level of 6/8 (1.0498). The scenario can be cancelled by a downward breakaway of the support level of 4/8 (1.0253). In this case, the pair may drop to 3/8 (1.0131).

On M15, the upper line of VoltyChannel is too far away from the current price, so growth can only be pointed on by a breakaway of 5/8 (1.0376) on H4.

GBP/USD, “Great Britain Pound vs US Dollar”

On H4, the quotes remain in the overbought area. The RSI has escaped the overbought area and continues declining. We should expect a downward breakaway of +1/8 (1.1962) and subsequent falling to the support level of 8/8 (1.1718). The scenario can be cancelled by rising over the resistance at +2/8 (1.2207), which will entail reshuffling of the Murrey grid, so that new goals will be set.

On M15, the lower line of VoltyChannel is broken away, which increases the probability of price falling to 8/8 (1.1718) on H4.

Author

RoboForex Team

RoboForex

RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.

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.