EUR/USD Price Analysis: Rises to near 1.0810 followed by the barrier at 50-day EMA

EUR/USD could test the resistance zone around the 50-day EMA and a three-week high.
A break above the major level of 1.0850 could lead the pair to reach a 38.2% Fibonacci retracement at 1.0864.
Technical indicators suggest a momentum shift towards an upward direction.

Akhtar Faruqui FXStreet

EUR/USD continues its winning streak that began on February 14 as the US Dollar (USD) receives downward pressure, which in turn, underpins the EUR/USD pair. The pair edges higher around 1.0810 during the Asian session on Wednesday.

The EUR/USD pair could rise to test the immediate resistance zone around the 50-day Exponential Moving Average (EMA) at 1.0834 and the three-week high at 1.0838. A breakthrough above this zone could exert upward support for the pair to reach the major support at 1.0850 followed by the 38.2% Fibonacci retracement level at 1.0864.

The technical analysis of the EUR/USD pair indicates a potential shift towards upward momentum. While the 14-day Relative Strength Index (RSI) sits at the 50 mark, signaling a neutral stance, the Moving Average Convergence Divergence (MACD) lies below the centreline but shows a divergence above the signal line. Traders may await further confirmation from the MACD to determine a clear directional trend.

On the downside, the immediate support appears at the psychological level at 1.0800 followed by the recent low at 1.0761 recorded on Tuesday. A break below the latter could put downward pressure on the EUR/USD pair to navigate the major support level of 1.0750 with an aim to approach the psychological support at 1.0700.

EUR/USD: Daily Chart

EUR/USD: Other important levels to watch

Overview
Today last price	1.0816
Today Daily Change	0.0006
Today Daily Change %	0.06
Today daily open	1.081

Trends
Daily SMA20	1.0795
Daily SMA50	1.0891
Daily SMA100	1.0804
Daily SMA200	1.0827

Levels
Previous Daily High	1.0839
Previous Daily Low	1.0762
Previous Weekly High	1.0806
Previous Weekly Low	1.0695
Previous Monthly High	1.1046
Previous Monthly Low	1.0795
Daily Fibonacci 38.2%	1.0809
Daily Fibonacci 61.8%	1.0791
Daily Pivot Point S1	1.0769
Daily Pivot Point S2	1.0727
Daily Pivot Point S3	1.0692
Daily Pivot Point R1	1.0846
Daily Pivot Point R2	1.0881
Daily Pivot Point R3	1.0923

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

GBP/USD loses momentum, flirts with 1.3200

GBP/USD is struggling to maintain its positive bias on Thursday, retreating toward the 1.3200 region in response to the pick in the buying interest around the Greenback. That said, Cable remains under scrutiny as cautious market sentiment keeps investors focused on the US-Iran conflict and political effervescence in the UK.

EUR/USD trims gains, challenges 1.1400

EUR/USD now gives away part of its earlier advance, receding toward the 1.1400 contention zone on Thursday. Meanwhile, the pair’s recovery comes amid extra losses in the US Dollar, at the time when while investors continue to monitor developments in the Middle East and sentiment surrounding global technology stocks.

Gold remains bid and close to $4,100

Gold accelerates its recovery and approaches the key $4,000 mark per troy ounce at the end of the week, adding to Thursday’s advance. However, expectations for a hawkish Fed remain steady and keep the yellow metal’s potential upside contained.

Crypto Today: Bitcoin at $60,000, Ethereum at $1,500, and XRP at $1 face a make-or-break test

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Friday after three consecutive days of losses, testing their respective make-or-break support levels.

Week ahead – NFP report to challenge Dollar strength and the hawkish Fed

Dollar strength dominates markets, as the hawkish Fed overshadows geopolitics and lower oil prices. NFP week could drive September Fed hike expectations and boost market volatility. The euro lacks fresh bullish catalysts, all eyes on the preliminary inflation report and the ECB Forum.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.