EURUSD
The Euro finally broke below strong 1.1270/90 support zone, Fibonacci 61.8% of 1.1015/1.1712 rally, reinforced by daily Kijun-sen / 10SMA, following short consolidation above the support that was capped by daily Tenkan-sen line at 1.1363. Fresh acceleration lower opens next targets at 1.1212/00, former top of 12 Aug / round figure support, which lay above more significant 1.1136/28, daily Ichimoku cloud top / rising daily 20SMA. Repeated bearish close today, would also mark formation of reversal pattern, signal of possible stronger pullback. South-heading daily indicators and bearish near-term structure, favor scenario. Daily Kijun-sen offers initial resistance at 1.1270, ahead of 200SMA at 1.1316, with daily close below here, to confirm bearish stance.
Res: 1.1396; 1.1451; 1.1500; 1.1551
Sup: 1.1212; 1.1136; 1.1128; 1.1080
The Euro finally broke below strong 1.1270/90 support zone, Fibonacci 61.8% of 1.1015/1.1712 rally, reinforced by daily Kijun-sen / 10SMA, following short consolidation above the support that was capped by daily Tenkan-sen line at 1.1363. Fresh acceleration lower opens next targets at 1.1212/00, former top of 12 Aug / round figure support, which lay above more significant 1.1136/28, daily Ichimoku cloud top / rising daily 20SMA. Repeated bearish close today, would also mark formation of reversal pattern, signal of possible stronger pullback. South-heading daily indicators and bearish near-term structure, favor scenario. Daily Kijun-sen offers initial resistance at 1.1270, ahead of 200SMA at 1.1316, with daily close below here, to confirm bearish stance.
Res: 1.1396; 1.1451; 1.1500; 1.1551
Sup: 1.1212; 1.1136; 1.1128; 1.1080
Recommended Content
Editors’ Picks
EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.