EUR/USD: Extra gains on the cards above 1.0300 – UOB

Pablo Piovano FXStreet

A sustained advance in EUR/USD is likely on a break above the 1.0300 level, suggested FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang.

Key Quotes

24-hour view: “While we highlighted yesterday that ‘EUR is unlikely to weaken’, we expected it to ‘trade between 1.0130 and 1.0210’. However, EUR soared to 1.0253 before closing on a strong note at 1.0243 (+0.78%). Upward momentum is building and the chance for EUR to break the 1.0260 has increased. That said, the odds for a breach of the next major resistance at 1.0300 are not high for now. Support is at 1.0215 followed by 1.0185.”

Next 1-3 weeks: “We have expected EUR to consolidate for more than a week now. In our latest narrative from Wednesday (03 Aug, spot at 1.0165), we indicated that EUR is still in a consolidation phase and expected it to trade between 1.0100 and 1.0260. EUR rose to 1.0253 yesterday and shorter-term upward momentum is beginning to build. However, EUR has to break 1.0300 before a sustained advance is likely. The chance for EUR to break 1.0300 would remain intact as long as it does not move below the ‘strong support’ level (currently at 1.0140) within these 1 to 2 days.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

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.