EUR/USD technical analysis: Euro pops to daily highs ahead of the FOMC

EUR/USD rises to 1.1221 ahead of the FOMC.
The level to beat for bears is at 1.1170 while bulls need to break 1.1239 resistance.

Flavio Tosti Independent Analyst

Investors are waiting for the FOMC report to be published at 18:00 GMT. The USD has been weakening across the board ahead of the report.

EUR/USD daily chart

EUR/USD is trading in a bear trend below its main simple moving average (DSMA). The market has reclaimed the 1.1200 figure and is testing the 50 SMA at 1.1216.

EUR/USD 4-hour chart

The market reclaimed the 200 SMA suggesting that bulls might be regaining strength in the medium term. According to the Technical Confluences Indicator, the next resistance to the upside is seen at 1.1239 (5 DSMA and monthly Fibonacci of 23.6%). After which comes a strong resistances at 1.1257 (Monthly Pivot Point R1) and 1.1268 (previous month high, 10 and 100 DSMA. If the market break 1.1268 the market can travel towards 1.1344 (previous week high and monthly Pivot Point Resistance 2).

Support levels are seen at 1.1170, 1.1146 and 1.1111.

EUR/USD 30-minute chart

EUR/USD reclaimed the 50 and 100 SMAs suggesting potential bullish activity however the market is still trading below the 200 SMA. The level to beat for bears is 1.1170 followed by 1.1146 and 1.1111.

Additional key levels

EUR/USD

Overview
Today last price	1.1213
Today Daily Change	0.0019
Today Daily Change %	0.17
Today daily open	1.1194

Trends
Daily SMA20	1.1224
Daily SMA50	1.1218
Daily SMA100	1.1267
Daily SMA200	1.1357

Levels
Previous Daily High	1.1244
Previous Daily Low	1.1181
Previous Weekly High	1.1344
Previous Weekly Low	1.1202
Previous Monthly High	1.1266
Previous Monthly Low	1.1107
Daily Fibonacci 38.2%	1.1205
Daily Fibonacci 61.8%	1.122
Daily Pivot Point S1	1.1168
Daily Pivot Point S2	1.1143
Daily Pivot Point S3	1.1105
Daily Pivot Point R1	1.1232
Daily Pivot Point R2	1.127
Daily Pivot Point R3	1.1295

Author

Flavio Tosti

Independent Analyst

EUR/USD recovers above 1.1600 as focus shifts to US NFP

EUR/USD recovers ground above 1.1600 in Friday's European trading. The pair's uptick is sponsored by a profit-taking pullback in the US Dollar, as traders reposition ahead of the critical US Nonfarm Payrolls data. Meanwhile, the Middle East conflict and higher oil prices could keep the recovery in check.

GBP/USD rebounds toward 1.3400 in countdown to US NFP

GBP/USD is rebounding toward 1.3400 in the European session on Friday. A modest improvement in risk sentiment and a broad-based US Dollar retreat help the pair recover its weekly losses. The focus now remains on the US NFP data and Middle East headlines for fresh trading incentives.

Gold advances on increased safe-haven demand

Gold price recovers its recent losses from the previous session. The yellow metal advances as the broader precious metals market rebounds on safe-haven demand. However, the yellow metal is on track for its first weekly decline in five weeks as escalating Middle East tensions push oil prices higher, fueling inflation concerns and reducing bets on Federal Reserve rate cuts.

Bitcoin, Ethereum and Ripple at risk as US-Iran war extends

Bitcoin, Ethereum, and Ripple trade cautiously at press time on Friday, close to key support levels after a roughly 2% pullback the previous day. Bitcoin holds above $71,000, Ethereum at $2,000, and XRP continues to consolidate in a sideways range.

The market compass is pointing at a barrel of Oil

The Asian open is arriving with equities leaning the wrong way, and the reason is not complicated. The market’s compass needle has snapped firmly toward crude. In this tape, oil is not just another input price; it is the gravitational center around which every asset class is orbiting.