An unattractive dollar helped EUR/USD reach 1.0926, its highest in a week. The positive market’s mood that lead the way ever since the week started begun to ease. Wall Street trimmed early gains, ends the day mixed.
The AUD/USD pair is losing some ground after flirting with the 0.6200 level, weighed by US indexes losing ground ahead of the close. RBA’s optimistic stance underpinned the Aussie.
Figures on Mondays tend to show a drop in cases and deaths in various places in the world. such as Spain, and New York's figures all provide hope, contributing to a massive stock market rally on Monday, April 6.
he USD 1640.00 level is a decent support level to watch as it has been used on six occasions and seem reliable. Even if it does break it will tell you a lot about the state of the market and the perception of the safe-haven asset.
Top 3 Price Prediction Bitcoin, Ether, Ripple: Crypto starship starts the engines, pointing beyond limits
Yesterday, Ether made a strong impact and shot its dominance level up 10%, easily surpassing the SMA200 and registering one of the most significant upward movements in one day since records began.
XRP/USD is changing hands marginally above $0.2000 with over 10% of gains since this time on Monday. The third-largest digital asset with the current market value of $9 billion
ETH/USD jumped above $176.00 during early Asian hours as the bullish momentum increased after the coin broke above the psychological $150.00.
EOS/USD had a hugely Monday as the price jumped from $2.35 to $2.76. The price has increased a little more to $2.794 in the early hours of Tuesday. The bulls also managed to break past ...
SPECIAL WEEKLY FORECAST
As expected, the shared currency strength didn’t last long. The EUR/USD pair resumed its decline these last few days, piercing the 1.0800 threshold by the end of the week.
Pound/dollar volatility is at Brexit levels – not as wild as throughout March but still highly elevated. Coronavirus health and economic developments are likely to continue dominating trading, with several US developments set to have their say as well.
The USD/JPY finished higher on the week, though it remains well below its peaks of mid and late March, as moderate risk aversion still orders markets. From Wednesday’s low of 106.92 the pair rose on Thursday and Friday to the high close at 108.54.
The thrill is gone – AIUD/USD's sugar rush, fueled by monetary and fiscal stimulus, faded out. As COVID-19 continues spreading around the world, the mood soured, and the risk-off sentiment is weighing on the Aussie.
Most part of the week Bitcoin has been on the recovery path. Slowly but surely the coin left $6,500 behind and even tested waters above $7,000. However, the buyers failed to develop an upside momentum above the critical resistance and the coin returned to $6,900.
Gold prices are heading into the close with modest weekly losses, with spot gold steady above $1,600 a troy ounce. The commodity eased throughout the first half of the week, amid persistent demand for the greenback and the better performance of equities.
Gold prices have been on the rise as ample liquidity has been pushing all assets higher – including the precious metal which used to be sought in times of trouble. Ample liquidity thanks to central banks and governments are boosting XAU/USD.
The Technical Confluences Indicator is showing that gold faces some resistance at $1,666, which is the convergence of the previous 4h-high and the Bollinger Band 4h-Upper. It is followed by $1,670, where the previous daily high hits the price.
The next levels to watch rate $1,676, where the Pivot Point one-week Resistance 2 and the BB 1h-Upper meet. The upside target is $1,678, which is where the all-important Fibonacci 161.8% one-week is seen.
Support awaits at $1,655, which is the confluence of the Fibonacci 23.6% one-week and the SMA 5-4h.
The most significant cushion is at $1,646, where the Fibonacci 38.2% one-day and the PP one-week R1 converge.
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