TRENDING:

XAU/USD

Silver

Things you should know about forex pairs to quick setups

EagleFX Team EagleFX

U.S. Session Brief, Sept 09 - Things You Should Know about Forex Pairs to quick Setups!

On Monday, the forex market remains pretty smooth, as investors wait for the market to settle against the weekend updates and they also try to secure positions against sure-shot moves. Stocks markets and other risky securities began relative composed despite figures published on Sunday, which conferred China's exports unanticipatedly contracted with sales to the US, falling 16% as trade wars grumble.

EUR/USD - Descending Triangle Pattern, Wait for Breakout

The single currency Euro hasn't changed much against the U.S. dollar as investors await ECB policy decision this week. The European Central bank is scheduled to meet on Thursday, and traders will actively look to understand what policymakers might do.

The odds of aggressive easing have been raising considering the series of weak economic data from the Eurozone. The question is whether they will support through on what the market is looking for.

The EUR/USD pair has also gained enough support from the labor market reports. The labor market report from the United States dispensed a less than expected rise in the number of employed people in August. The unemployment rate persisted stable while average hourly earnings ticked up last month to come in ahead of forecast.

EUR/USD - Daily Technical Analysis

The Fiber has formed a descending triangle pattern which supporting the EUR/USD around 1.1015 along with resistance around 1.1070.

So, here's a thing. The violation of 1.1020 can trigger a sharp sell-off until 1.0960 and 1.0940. The RSI and Stochastic are holding in the neutral zone, which isn't suggesting.

EUR/USD - Technical Levels

Support Resistance
1.1012 1.1049 1.0997
1.1072 1.096 1.111
Pivot Point 1.1035

EUR/USD - Daily Trade Sentiment

Considering the ECB meeting on Thursday, the investors are holding positions in EUR/USD as they are optimistic that ECB will bring something that drives betterment in life. The EUR/USD is likely to exhibit a bearish trend below and bullish above1.1035.

GBP/USD - Fibonacci Retracement In-Play

The GBP/USD pair jumped dramatically to place a high around 1.2385 as investors awaited for the UK GDP figures. After declining in the second quarter, the Sterling is facing pressure on the system.

GDP in the United Kingdom was even for the three months to July and expanded 0.3% every month. The British economic figures remained broadly above forecasts as manufacturing, and industrial production also hit the analyst forecast. The data appears to imply that the British economy is still stronger than expected.

Besides, the Brexit uncertainties will tend to continue dominating Sterling fluctuations. During the previous week, political developments caused volatile deviations in the GBP/USD. Prime Minister Johnson had a significant failure in Parliament as a bill enacted that effectively allows lawmakers to block a no-deal exit. Johnson seems persistent nevertheless to provide a door by October 31. Based on his fresh news, I think he will retaliate. That is the reason why the volatile swings in the currency are far from over.

GBP/USD - Daily Technical Analysis

The Cable is trading neutral after placing a high of around 1.2390, as investors seem to wait for a big event to drive movement. Looking at the 4-hour timeframe, the GBP/USD has formed a Doji pattern which may induce a slight bearish change in the GBP/USD.

GBP/USD - Technical Levels

Support Resistance
1.2264 1.233 1.2238
1.237 1.2171 1.2436
Pivot Point 1.2304

GBP/USD - Daily Trade Sentiment

The GBP/USD is likely to exhibit bullish trend above 1.2310, and continuation of this can extend the bullish trend until 1.2280. I will be looking to take a sell position below 1.2320 to target at least 1.22750 today.

Best wishes for the U.S. session!

100% Anonymous Trading on EagleFX - Trade NOW!

Author

EagleFX Team

EagleFX

EagleFX Team is an international group of market analysts with skills in fundamental and technical analysis, applying several methods to assess the state and likelihood of price movements on Forex, Commodities, Indices, Metals and

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.