EUR/USD - 1.1640.. Although euro extended early upmove fm Oct's fresh 14 -month trough of 1.1525 initially last week to a near 3-week high of 1.1669 on Tue, price retreated to 1.1617 (Wed) n swung sideways for rest of the week.

On the bigger picture, despite euro's LT upmove fm 2017 near 14-year low of 1.0341 to a fresh 3-year peak of 1.2555 in mid-Feb 2018, euro's decline to a near 3-year 1.0637 low in Mar 2020 signals correction has ended. Despite staging an impressive upmove to a near 33-month 1.2349 peak in early Jan 2021, subsequent selloff to 1.1705 (Mar) signals top is made. Although euro climbed to 1.22 66 in May, subsequent break of 1.1705 sup to a 9-1/2 month trough of 1.1664 in mid-Aug signals a major top is made. Euro's weakness to a fresh 14-month bottom at 1.1525 in Oct would extend MT fall fm 1.2349 top to 1.1473 but reckon 1.1422 may hold on 1st testing. Tue's break of 1.1664 may head to 1.1745/55 b4 down.

Today, euro's daily choppy swings following retreat from 1.1669 to 1.1617 would yield further consolidation, as long as said reaction low hold, upmove fm 1.1525 may head twd 1.1703, however, 'bearish divergences' on hourly indicators should cap price below 1.1755. A daily close below 1.1617 would yield 1.1572.

Author

AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

EUR/USD hovers around nine-day EMA above 1.1800

EUR/USD remains in the positive territory after registering modest gains in the previous session, trading around 1.1820 during the Asian hours on Monday. The 14-day Relative Strength Index momentum indicator at 54 is edging higher, signaling improving momentum. RSI near mid-50s keeps momentum balanced. A sustained push above 60 would firm bullish control.

GBP/USD holds medium-term bullish bias above 1.3600

The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s interest-rate cut weighs on the Pound Sterling against the Greenback.

Gold sticks to gains above $5,000 as China's buying and Fed rate-cut bets drive demand

Gold surges past the $5,000 psychological mark during the Asian session on Monday in reaction to the weekend data, showing that the People's Bank of China extended its buying spree for a 15th month in January. Moreover, dovish US Federal Reserve expectations and concerns about the central bank's independence drag the US Dollar lower for the second straight day, providing an additional boost to the non-yielding yellow metal.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Weekly column: Saturn-Neptune and the end of the Dollar’s 15-year bull cycle

Tariffs are not only inflationary for a nation but also risk undermining the trust and credibility that go hand in hand with the responsibility of being the leading nation in the free world and controlling the world’s reserve currency.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.