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 in a strong bullish trend

EURUSD and GBPUSD: EURUSD in a strong bullish trend

During this morning’s Asian trading session, EURUSD consolidated around 1.09900 level. 
On Tuesday, GBPUSD rose to 1.28733 levels, a new weekly high. 

EURUSD chart analysis

During this morning’s Asian trading session, EURUSD consolidated around 1.09900 level.  A strong bullish consolidation and a jump to a new high of 1.10287 followed this. We are currently stopping there and moving around the 1.10200 level. It is possible that we will see a more significant pullback if we do not initiate a continuation to the bullish side soon. If EURUSD manages to hold here, it could move to a new weekly high with renewed momentum.

Potential higher targets are 1.10400 and 1.10600 levels. For a bearish option, the EURUSD would have to initiate a bearish consolidation down to the 1.10000 level. We are close to testing the daily open price. If we fail to hold above this time, the pair could easily continue to pull back. Potential lower targets are 1.09800 and 1.09600 levels. Additional support in the 1.09600 zone is the EMA 50 moving average.

 

GBPUSD chart analysis

On Tuesday, GBPUSD rose to 1.28733 levels, a new weekly high. After that, there is a stop in that zone and the fall of the previous bullish volume. During the Asian trading session, the pair hovered around 1.28600 levels. Data on British inflation were published at the start of the EU session. The drop in inflation pushed the pound down to the 1.28170 level. A daily low was formed at this level, and GBPUSD started a recovery from there.

The pair is now at 1.28430 and trying to stabilize above the 1.28400 level. If GBPUSD succeeds in this, he could continue on the bullish side. Potential higher targets are 1.28600 and 1.28700 levels. For a bearish option, we need a negative consolidation and a new test of this morning’s low. In that zone, we also have the EMA 50 moving average, which could be a new support. With the impulse below, we continue to the bearish side. Potential lower targets are 1.28100 and 1.28000 levels.

 

The post EURUSD and GBPUSD: EURUSD in a strong bullish trend 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