EUR/USD jumps to test 1.0780 amid a rally in German yields

Dhwani Mehta FXStreet

The EUR/USD pair is seen extending its break higher from near 1.07 handle, and now prints fresh three-week tops at 1.0768 amid a solid rebound staged by the German bund yields. The benchmark 10-year German bund yields rally almost 17% to eight-day highs of 0.237%.

Moreover, latest reports of Japan’s life insurance company, Mitsui Life, planning to buy a few more euro based bonds to its portfolio in 2017/18, also collaborated to the rebound in EUR/USD.

Furthermore, extension of losses in the US dollar across the board, despite rising treasury yields, remains supportive of the latest leg higher in the spot. The USD index drops -0.36% to 99.35, fresh three-week troughs.

All eyes now remain on the US Philly Fed manufacturing index and jobless claims data due later in the NA session. In the meantime, the major will get influenced by the price-action around the German yields.

Besides, speech from the US treasury secretary Mnuchin will hog the limelight later today.

RTRS Poll: ECB seen extending QE beyond December

EUR/USD Technical Levels

Technical resistances for the pair are aligned at 1.0800 (round number), 1.0827 (Mar 29 high) and finally 1.0850 (psychological levels). On the flip side, the spot finds next support at 1.0702/00 (Daily pivot/ round number), a break below that level could open the door to 1.0663/60/59 (5, 20 & 50-DMA) and 1.0600 (classic S2/ Fib S3).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

EUR/USD faces some resistance near 100-SMA on H4, around 1.1830 zone

The EUR/USD pair gains some follow-through positive traction for the second consecutive day and climbs to the 1.1830 region during the Asian session on Thursday. The US Dollar remains on the back foot amid concerns about the economic fallout from US President Donald Trump's erratic trade policies and acts as a tailwind for spot prices.

GBP/USD extends recovery to near 20-day EMA as US Dollar weakens

The Pound Sterling holds onto weekly gains around 1.3565 against the US Dollar during the Asian trading session on Thursday. The GBP/USD pair trades firmly as the US Dollar remains under pressure due to uncertainty surrounding the United States trade policy outlook.

Gold looks to build on strength beyond $5,200, eyes monthly peak amid safe-haven flows

Gold touches a fresh daily high heading into the European session on Thursday, with bulls looking to build on the momentum beyond the $5,200 mark. This marks the second straight day of a positive move and is supported by sustained safe-haven flows, bolstered by uncertainties surrounding US President Donald Trump's trade policies and US-Iran nuclear talks.

Stellar: Relief bounce fades as bearish undertone persists

Stellar is trading around $0.16 at the time of writing on Thursday after rebounding more than 8% in the previous day. Derivatives data paints a negative picture as XLM’s short bets hit a monthly high while Open Interest continues to decline.

Nvidia delivers another monster earnings report, and forecasts big things to come

It was another monster earnings report from Nvidia for fiscal Q4. Revenues were $68.1bn, smashing estimates of $65bn. Gross profit margin was a healthy 75%, up from 73.5% in the prior quarter, and the outlook for this quarter was monstrous.

Solana strikes key resistance with double-digit gains

Solana trades at $88 at press time on Thursday, after an 11% upswing the previous day within a broader consolidation range of roughly three weeks. Institutional demand for Solana heightens as US spot SOL Exchange Traded Funds record $30 million of inflow on Wednesday.