EUR/USD Price Analysis: Gains remain capped by 1.0800

EUR/USD advances to new multi-week highs around 1.0790.
There is a tough barrier at the 1.0800 zone so far.

Pablo Piovano FXStreet

EUR/USD resumes the upside bias following Friday’s marked pullback and approaches the 1.0800 region.

A more serious bullish attempt is expected to quickly surpass the so far monthly high at 1.0790 (June 12), which is closely followed by the round level at 1.0800. The latter, in turn, appears propped up by the temporary 100-day SMA at 1.0805.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0522.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0764
Today Daily Change	46
Today Daily Change %	0.14
Today daily open	1.0749

Trends
Daily SMA20	1.0759
Daily SMA50	1.0885
Daily SMA100	1.0808
Daily SMA200	1.052

Levels
Previous Daily High	1.0785
Previous Daily Low	1.0743
Previous Weekly High	1.0787
Previous Weekly Low	1.0667
Previous Monthly High	1.1092
Previous Monthly Low	1.0635
Daily Fibonacci 38.2%	1.0759
Daily Fibonacci 61.8%	1.0769
Daily Pivot Point S1	1.0733
Daily Pivot Point S2	1.0717
Daily Pivot Point S3	1.069
Daily Pivot Point R1	1.0775
Daily Pivot Point R2	1.0801
Daily Pivot Point R3	1.0817

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 declines to near 1.3500 as US-Iran tensions rise

The GBP/USD pair declines to near 1.3500 during the early European trading hours on Wednesday. Ongoing tensions in the Middle East provide some support to a safe-haven currency such as the US Dollar against the British Pound. All eyes will be on the US August jobs report later on Friday.

EUR/USD falls to two-week low below 1.1600 on broad USD strength

EUR/USD remains under bearish pressure after closing in negative territory on Tuesday and trades at its lowest level in two weeks below 1.1600 on Wednesday. As tensions in the Middle East escalate further, the US Dollar gathers strength on risk-aversion and hawkish Fed repricing, forcing the pair to stay on the back foot. Later in the day, private sector employment data from the US will be watched closely by market participants.

Gold recovers above $4,300; upside seems capped as Fed bets support USD

Gold recovers early lost ground to a four-week low, and trades above $4,320 heading into the European session. A modest US Dollar pullback is seen as a key factor supporting the commodity, though any meaningful upside seems elusive amid hawkish US Federal Reserve expectations. The escalating Middle East conflict lifted crude oil prices to a fresh high since July 24, stoking inflation fears and reaffirming bets for a Fed rate hike in September.

WTI advances to mid-$90.00s, fresh high since July 24 amid escalating US-Iran tensions

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – scales higher for the third straight day – also marking the fifth day of a positive move in the previous six – and climbs to a fresh high since July 24 during the Asian session on Wednesday.

ADP Employment Report is expected to show a moderate increase in private payrolls in August

The Automatic Data Processing Research Institute will release its monthly report on private-sector job creation for August next Wednesday. The ADP Employment Change report is expected to show that the United States private sector added 47K new positions this month, little changed from the 44K new jobs reported in July.

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.