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 returns to the 1.07850 zone

EURUSD and GBPUSD: EURUSD returns to the 1.07850 zone

EURUSD: A snapshot of the current market-on Thursday, the pair retreated to the 1.07240 support level, forming a weekly low there.
Yesterday, we saw GBPUSD pull back to a new weekly low at 1.24457.

EURUSD chart analysis

EURUSD: A snapshot of the current market-on Thursday, the pair retreated to the 1.07240 support level, forming a weekly low there. We see a new support and a return above the EMA200 moving average at that level. A strong bullish impulse takes us up to the 1.07650 level, thus initiating a bullish consolidation. In the Asian trading session this morning, we continue up to the 1.07840 level and are on the verge of testing this week’s high at 1.07900.

EURUSD: potential scenarios and targets-If we see a negative consolidation and a pullback down to the 1.07600 level, it could open up a bearish option. In this case, we would test the weekly open price, and by falling below it, we would move into negative territory. Potential lower targets are 1.07500 and 1.07400 levels. Additional support in the 1.07400 zone is in the EMA200 moving average.

GBPUSD chart analysis

Yesterday, we saw GBPUSD pull back to a new weekly low at 1.24457. We are quickly gaining support below and moving back above the 1.25000 level. There, we encounter the EMA50 moving average, cross above it and get rid of the bearish pressure. The pair continues its bullish consolidation, rising above 1.25250 and the EMA200 moving average. During the Asian trading session, we were able to consolidate above that support and start a further recovery.

The new impulse pushes us to 1.25400, and there, we form a new daily high. Potential higher targets are 1.25500 and 1.25600 levels. We need a negative consolidation and pullback below the EMA200 and 1.25250 levels for a bearish option. This puts us back on the clean side, and we will be under pressure to continue the retreat. Potential lower targets are 1.25000 and 1.24900 levels.

The post EURUSD and GBPUSD: EURUSD returns to the 1.07850 zone 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