Connect with us

Hi, what are you looking for?

Smart Success Strategy – Investing and Stock NewsSmart Success Strategy – Investing and Stock News

Economy

EURUSD and GBPUSD: EURUSD manages to stay above 1.09600

EURUSD and GBPUSD: EURUSD manages to stay above 1.09600

During the Asian trading session, EURUSD retreated from last week’s high of 1.09733 to 1.09440.
During the Asian trading session, GBPUSD was in retreat.

EURUSD chart analysis

During the Asian trading session, EURUSD retreated from last week’s high of 1.09733 to 1.09440. It received support at that level, and the pair initiated a certain bullish consolidation. In the EU session, the euro gained strength and climbed to the 1.09650 level. Now it is important for us to stay above 1.09500 and form a new bottom there.

We need a positive consolidation and a return around the 1.09700 resistance zone for a bullish option. Then we need to break above and try to stay up there. If we succeed in that, we could expect to see further EURUSD growth. Potential higher targets are 1.09800 and 1.09900 levels.

We need a negative consolidation and a drop below this morning’s support for a bearish option at 1.09400. Below we would see the EURUSD decline to the next support level. Potential lower targets are 1.09300 and 1.09200 levels.

GBPUSD chart analysis

During the Asian trading session, GBPUSD was in retreat. We find support at the 1.28000 level. At that level, we formed a new bottom, and now we see a positive consolidation and a move up to the 1.28200 level. We could expect to see a continuation of the pound’s recovery today and a visit to the previous high at 1.28500. Potential higher targets are 1.28600 and 1.28700 levels.

We need a negative consolidation and a decline to this morning’s support level for a bearish option. Then we need a break below to continue to the bearish side. Potential lower targets are 1.27800 and 1.27600 levels.

 

The post EURUSD and GBPUSD: EURUSD manages to stay above 1.09600 appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.



    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    The energy revolution is here to stay, and electric vehicles (EVs) have become part of the mainstream narrative. Despite geopolitical tensions and uncertainty, the...

    Editor's Pick

    Overview Mexico’s Sinaloa state hosts a number of prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s...

    Editor's Pick

    Uranium is an important energy sector commodity, and its rising value has attracted investor interest. 2023 has seen uranium prices solidly above the important...

    Investing

    A new survey shows that the presidential race between former President Donald Trump and President Biden is thin, but Biden faces a deficit in...

    Disclaimer: smartsuccessstrategy.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 smartsuccessstrategy.com