EUR/USD Technical Analysis: EUR/USD slowly turning bullish as bulls breakout from triangle pattern and regain 1.1630 level

EUR/USD main bear trend has been on hold since mid-August.
EUR/USD bulls are challenging the upper side of the range near 1.1630 after they broke from the triangle compression pattern. EUR/USD is trading above the 50, 100 and 200-period simple moving averages. Additionally, the RSI, MACD and Stochastics are in positive territories all leaning for the continuation of the bullish move in the coming sessions. The conservative target is 1.1700 figure and if bulls can pierce through it, 1.1750 (key resistance) becomes the next destination.
A bear breakout below 1.1530 would invalidate the bullish bias.

Flavio Tosti Independent Analyst

EUR/USD 4-hour chart

Spot rate: 1.1626
Relative change: 0.18%
High: 1.1650
Low: 1.1569

Main trend: Bearish
Short-term trend: Bullish above 1.1530

Resistance 1: 1.1630 August 8 high key level
Resistance 2: 1.1654 August 27 high
Resistance 3: 1.1700 figure
Resistance 4: 1.1750 key resistance (July)

Support 1: 1.1600 figure
Support 2: 1.1572 July 19 low
Support 3: 1.1542 supply/demand level
Support 4: 1.1530 August 23 swing low
Support 5: 1.1508 June 8 low

Author

Flavio Tosti

Independent Analyst

EUR/USD sticks to positive bias above 1.1800 as trade jitters undermine USD

The EUR/USD pair builds on the previous day's modest gains and attracts some buyers for the second straight day on Thursday amid a softer US Dollar. Spot prices, however, lack bullish conviction and trade around the 1.1815-1.1820 area during the Asian session, up 0.10% for the day.

GBP/USD extends recovery to near 20-day EMA as US Dollar weakens

The Pound Sterling holds onto weekly gains around 1.3565 against the US Dollar during the Asian trading session on Thursday. The GBP/USD pair trades firmly as the US Dollar remains under pressure due to uncertainty surrounding the United States trade policy outlook.

Gold struggle with $5,200 extends ahead of more US-Iran talks

Gold is replicating the recovery moves seen in Wednesday’s Asian trading early Thursday, as buyers continue to flirt with the $5,200 level. Sustained US Dollar weakness and looming US-Iran talks aid the bright metal’s rebound.

Top Crypto Gainers: Polkadot, Near Protocol, Uniswap lead market rebound

Altcoins, such as Polkadot, Near Protocol, and Uniswap, are leading gains over the last 24 hours as Bitcoin jumped 6% on Wednesday. The altcoins are holding steady at press time on Thursday following a rebound the previous day, testing the waters around their 50-day Exponential Moving Average.

Nvidia delivers another monster earnings report, and forecasts big things to come

It was another monster earnings report from Nvidia for fiscal Q4. Revenues were $68.1bn, smashing estimates of $65bn. Gross profit margin was a healthy 75%, up from 73.5% in the prior quarter, and the outlook for this quarter was monstrous.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.