EUR/USD Price Analysis: Further gains should reclaim 1.0800 and beyond

EUR/USD corrects lower following new monthly peaks near 1.0790.
Extra advances are expected to reclaim the area above 1.0800.

Pablo Piovano FXStreet

EUR/USD faces some renewed downside pressure and gives away part of Thursday’s strong move to the vicinity of 1.0800 the figure.

A more serious bullish attempt is expected to quickly surpass the so far monthly high at 1.0787 (June 8) closely followed by the round level at 1.0800, which appears propped up by the transitory 100-day SMA, today at 1.0807.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0518.

EUR/USD daily charts

EUR/USD

Overview
Today last price	1.0767
Today Daily Change	29
Today Daily Change %	-0.14
Today daily open	1.0782

Trends
Daily SMA20	1.0764
Daily SMA50	1.0887
Daily SMA100	1.0809
Daily SMA200	1.0516

Levels
Previous Daily High	1.0787
Previous Daily Low	1.0696
Previous Weekly High	1.0779
Previous Weekly Low	1.0635
Previous Monthly High	1.1092
Previous Monthly Low	1.0635
Daily Fibonacci 38.2%	1.0752
Daily Fibonacci 61.8%	1.0731
Daily Pivot Point S1	1.0723
Daily Pivot Point S2	1.0664
Daily Pivot Point S3	1.0632
Daily Pivot Point R1	1.0814
Daily Pivot Point R2	1.0846
Daily Pivot Point R3	1.0906

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.

GBP/USD softens to near 1.3550 on geopolitical tensions, hawkish Fed bets

The GBP/USD pair trades with mild losses around 1.3550 during the early Asian trading hours. The US Dollar edges higher against the British Pound amid ongoing Middle East tensions and Federal Reserve Chair Kevin Warsh's hawkish remarks at the Jackson Hole symposium.

EUR/USD struggles near 1.1600; looks to Eurozone HICP for some impetus

The EUR/USD pair struggles to capitalize on the overnight bounce from the 100-day SMA, near the 1.1575-1.1580 region, or a one-and-a-half-week low, and drifts lower during the Asian session on Tuesday. Spot prices currently trade around the 1.1600 mark, down nearly 0.10% for the day, amid modest US Dollar strength as traders now look to the preliminary reading of the Eurozone Harmonized Index of Consumer Prices (HICP).

Gold: Defending $4,400 is critical for buyers

Gold fades Monday’s rebound from eight-day lows, reverting toward $4,400 early Tuesday. US Dollar bounces sharply amid US-Iran tensions-led risk aversion and hawkish Fed bets. Gold attacks 21-day SMA near $4,400 after defending it on Monday; RSI still bullish.

Ripple, Cardano, and Dogecoin show weakness – Crucial EMAs in focus

Ripple, Cardano, and Dogecoin remain weak after double-digit losses last week, testing their crucial Exponential Moving Averages for immediate support. The technical outlook warns of further weakness in the prices of XRP, ADA, and DOGE as bullish momentum eases.

Fed Chair Warsh runs open-mouth operations at Jackson Hole but can he deliver?

Federal Reserve Chairman Kevin Warsh moved markets on Friday with his Jackson Hole speech, even though the central bank has yet to do anything to move inflation. Clearly, Warsh wants to convey a message. He’s tough on inflation, and the Fed will “deliver price stability.”

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.