EUR/USD Price Analysis: Further losses likely below 1.0804

EUR/USD picks up some buying interest and retakes 1.0600.
The weekly low just above 1.0800 caps the upside so far.

Pablo Piovano FXStreet

EUR/USD manages to generate some upside traction and reclaims the area above the 1.0600 hurdle ahead of the ECB on Thursday.

Occasional bullish attempts, in the meantime, should clear the weekly high at 1.0804 (February 14) to allow for the continuation of the uptrend in the short term

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0323.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0604
Today Daily Change	62
Today Daily Change %	0.26
Today daily open	1.0577

Trends
Daily SMA20	1.0629
Daily SMA50	1.0726
Daily SMA100	1.0556
Daily SMA200	1.0325

Levels
Previous Daily High	1.076
Previous Daily Low	1.0516
Previous Weekly High	1.0701
Previous Weekly Low	1.0524
Previous Monthly High	1.1033
Previous Monthly Low	1.0533
Daily Fibonacci 38.2%	1.0609
Daily Fibonacci 61.8%	1.0667
Daily Pivot Point S1	1.0475
Daily Pivot Point S2	1.0374
Daily Pivot Point S3	1.0232
Daily Pivot Point R1	1.0719
Daily Pivot Point R2	1.0861
Daily Pivot Point R3	1.0963

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 hits multi-week tops around 1.3560

GBP/USD gathers fresh steam and advances to new three-month peaks near the 1.3560 zone on Friday. Cable’s sharp move higher comes after three daily drops in a row and follows the increasing selling pressure hurting the Greenback.

EUR/USD pops to fresh two-month highs, targets 1.1600

EUR/USD advances markedly, revisiting the upper 1.1500s for the first time since mid-June. The pair’s sharp uptick comes on the back of a strong retracement in the US Dollar amid BoJ intervention chatter and despite steady uncertainty in the Middle East.

Gold picks up pace, approaches $4,400

Gold rebounds toward the $4,400 mark per troy ounce on Friday, reversing the previous day’s pullback. The precious metal’s recovery comes as fresh and intense weakness keep weighing on the US Dollar, while traders keep assessing easing expectations of an imminent Fed interest rate hike and the situation from the Middle East.

Pi Network Price Forecast: PI extends consolidation as bulls eye $0.10

Pi Network (PI) price holds steady on Friday, maintaining a consolidating tone for three consecutive days. Mild retail strength in the PI token remains stable, with Open Interest above $9 million, while social buzz eases. PI token’s technical outlook is mixed, as bearish momentum wanes to neutral, with bulls eyeing the $0.1000 psychological level.

Weekly focus: Some relief in US inflation concerns

Actual inflation data for July came out as expected with a 0.1% m/m increase in headline CPI and 0.2% excluding food and energy. Annual headline inflation remains too high at 3.4% and means that wage earners are experiencing stagnating spending power at best, and core inflation is a bit higher than the inflation target of two percent would suggest.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.