EUR/USD drops below 1.1960 still marginally higher for the week

Matías Salord FXStreet

EUR/USD broke to the downside after trading in a range between 1.1960 and 1.1980 for hours. The pair dropped to 1.1951, the lowest since the Asian session. Short-term momentum favors the downside but price action remains limited.

The euro is up just 10 pips for the week versus the US dollar. It peaked on Wednesday above 1.2020 but after the FOMC meeting turned sharply to the downside and bottomed at 1.1860, a relevant short-term support. It was able to hold on top and recovered most of the post-FOMC losses during Thursday and Friday.

Technical outlook

The technical picture is still long-term bullish according to Valeria Bednarik, Chief Analyst at FXStreet, although she warns that EUR/USD has been confined to a well-limited range between 1.18 and 1.21 for a month already, settling mid way around 1.1970.

“The daily chart shows that the 20 DMA has turned horizontal, in line with the ongoing consolidation, with the price moving back and forth around it. In the same chart, however, the 100 and 200 DMAs maintain their strong upward slopes hundreds of pips below the current level”, she added.

Longer time frames, also indicate that the risk is towards the upside, with the price holding above all of its moving averages in the weekly chart, and with technical indicators there lacking directional strength, but holding within overbought territory, concluded Bednarik.

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.