Connect with us

Hi, what are you looking for?

Economy

EURUSD AND GBPUSD: Euro fell to 1.07500 level this morning

EURUSD AND GBPUSD: Euro fell to 1.07500 level this morning

  • On Friday, EURUSD made a strong pullback from the 1.09000 level.
  • On Friday, GBPUSD rose to 1.28218, forming a new weekly high there.

EURUSD chart analysis

On Friday, EURUSD made a strong pullback from the 1.09000 level. The positive NFP data influenced the dollar to strengthen sharply, and the euro was forced to retreat. At the market’s closing on Friday, the pair dropped to the 1.08000 level. During this morning’s Asian trading session, EURUSD continued to fall to 1.07480. Now, before the start of the EU session, we see an attempt to stabilize around the 1.07500 level.

We need a positive consolidation to trigger a bullish option. With a return above 1.07800, we will move away from this morning’s low. After that, the pair could begin further growth and recovery with more relief. Potential higher targets are a 1.08000 weekly open price and a 1.08200 level. Additional possible resistance in the 1.08200 zone is the EMA50 moving average.

EURUSD chart analysis

 

GBPUSD chart analysis

On Friday, GBPUSD rose to 1.28218, forming a new weekly high there. After that, a strong bearish impulse brings the pair down to 1.27160 levels. During this morning’s Asian trading session, we failed to initiate a recovery. The pound continued to slide to a new low of 1.27072 levels. We SEE a bearish impulse at the opening of the EU session, which means further retreat and the formation of a new lower low.

Potential lower targets are 1.26900 and 1.26800 levels. We need a positive consolidation and a return above the 1.27200 level for a bullish option. With this, we return to the positive side above the weekly open price. After that, we expect to see a recovery start and higher levels are reached. Potential higher targets are 1.27300 and 1.27400 levels.

GBPUSD chart analysis

 

The post EURUSD AND GBPUSD: Euro fell to 1.07500 level this morning appeared first on FinanceBrokerage.

You May Also Like

Investing

WASHINGTON — Former President Donald Trump failed to impress everyone in a room full of top CEOs Thursday at the Business Roundtable’s quarterly meeting, multiple attendees told...

Economy

Forex Market Opening Hours in India: Key Trading Times Explained Have you ever wondered when does the Forex market open in India exactly? What...

Editor's Pick

The Biden campaign raised $28 million ahead of a star-studded fundraiser in Los Angeles headlined by actors George Clooney, Julia Roberts, Jimmy Kimmel and...

Economy

Quick Overview: OpenAI and Color Health collaborate to enhance cancer care with AI, improving screening and treatment plans. Aim to provide AI-generated screening plans...

Disclaimer: Margininsiders.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 Margininsiders.com