Connect with us

Hi, what are you looking for?

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

Economy

Euro index rises to two-day high, yen index at the bottom

Euro index rises to two-day high, yen index at the bottom

The two-day growth of the euro index stopped this morning at the 1047.6 level. 
During the Asian trading session, the yen index was maintained above the 734.0 level.

Euro index chart analysis

The two-day growth of the euro index stopped this morning at the 1047.6 level. We encountered resistance there in the Asian session, after which we started a pullback to the 1046.0 level. There are good chances to return to a new test of the EMA200 and the zone around the 1045.0 level. This is where the Euro index could get stronger support to continue on the bullish side. It will fall below and intensify the bearish pressure if this does not happen.

Potential lower targets are 1044.5 and 1044.0 levels. For the bullish option, from this position, it is important for us to stay above the weekly open price and stay on the positive side. This gives us optimism that we can revisit this morning’s high at 1047.6. Such a move could have the effect of moving above to a new weekly high. Potential higher targets are 1048.0 and 1048.5 levels.

Yen index chart analysis

During the Asian trading session, the yen index was maintained above the 734.0 level. We are still in the support zone and hope the yen will have enough strength to stabilize and start a recovery. We need a return above the 735.0 level and the weekly open price. With this, we move to the positive side, and the chances increase that we could see the initiation of a positive consolidation.

Potential higher targets are 736.0 and 737.0 levels. We will have an additional higher resistance in the EMA200 at the 736.5 level. If the yen index turns to the bearish side again, we are looking at an important level of 733.5. By falling below, we go to a new weekly low, confirming the yen’s weakness and continuing to the bearish side. Potential lower targets are 733.0 and 732.5 levels.

The post Euro index rises to two-day high, yen index at the bottom 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