EUR/USD Price Analysis: Some consolidation appears on the table

EUR/USD partially reverses Monday’s marked gains.
The pair could trade in a range bound theme in the short term.

Pablo Piovano FXStreet

EUR/USD fades the earlier bullish attempt to the 1.0580 region on Tuesday.

In case bulls regain the upper hand, the pair should surpass the monthly peak of 1.0639 (October 12) to allow for extra gains to, initially, the interim 55-day SMA at 1.0735 ahead of the weekly top of 1.0767 (September 12).

Meanwhile, further losses remain on the table as long as the pair navigates the area below the key 200-day SMA

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.055
Today Daily Change	47
Today Daily Change %	-0.10
Today daily open	1.0561

Trends
Daily SMA20	1.0571
Daily SMA50	1.0721
Daily SMA100	1.0832
Daily SMA200	1.0824

Levels
Previous Daily High	1.0563
Previous Daily Low	1.0511
Previous Weekly High	1.064
Previous Weekly Low	1.0496
Previous Monthly High	1.0882
Previous Monthly Low	1.0488
Daily Fibonacci 38.2%	1.0543
Daily Fibonacci 61.8%	1.0531
Daily Pivot Point S1	1.0527
Daily Pivot Point S2	1.0493
Daily Pivot Point S3	1.0475
Daily Pivot Point R1	1.0579
Daily Pivot Point R2	1.0597
Daily Pivot Point R3	1.063

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 strengthens to near 1.3500 as Fed rate hike bets ease

The GBP/USD pair gathers strength to near 1.3495 during the early European trading hours on Friday. The British Pound edges higher against the US Dollar as cooler-than-expected US consumer and producer price data have limited the Federal Reserve's room for further interest rate hikes. Traders will keep an eye on the US July Retail Sales report later on Friday.

EUR/USD looks apathetic around 1.1530

EUR/USD reverses Wednesday’s downtick and trades with modest gains in the 1.1530 region following the end of the NA session on Thursday. The pair’s tepid advance comes on the back of the absence of clear direction in the US Dollar despite tensions from the Middle East appear far from alleviated. Later on Friday, investors are expected to monitor the the releases of another revision of GDP figures in the Euroland, US Retail Sales and the preliminary U-Mich gauge.

Gold extends pullback from two-month high as Iran risks counter receding Fed hike bets

Gold is seen extending the previous day's pullback from the vicinity of the $4,450 level, or the highest since June 5, and drifting lower for the second straight day. The downward trajectory dragged the commodity to a fresh weekly low, closer to the $4,300 mark during the Asian session. Persistent geopolitical uncertainties, to a large extent, offset receding US Federal Reserve rate hike bets and act as a tailwind for the safe-haven US Dollar, which is seen weighing on the commodity.

SharpLink to stake $200 million in Ethereum through Lido

SharpLink Gaming announced plans to stake $200 million in Ethereum through Lido as part of its strategy to generate returns from its ETH treasury, according to a Thursday announcement. The allocation will be converted into wrapped staked ETH, which represents staked Ethereum and the associated staking rewards.

Dollar dominance is cracking and the Fort Knox Gold question won’t go away

Imagine somebody repeatedly claiming to have $100,000 in the bank but refusing to produce a statement or even balance the checkbook. The money might be there, but without verification, skepticism would be reasonable.

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.