Connect with us

Hi, what are you looking for?

Real Investment StarReal Investment Star

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.

 

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.

 

The post EURUSD AND GBPUSD: Euro fell to 1.07500 level this morning 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

    ERP or Enterprise Resource Planning solutions help businesses of all sizes manage their daily business operations. First used in the 1990s, ERP systems have...

    Investing

    Democratic Gov. Janet Mills on Wednesday vetoed a bill aimed at prohibiting foreign influence in Maine elections, but voters will get the final say...

    Latest News

    There were several reasons offered in support of the congestion pricing plan that was supposed to go into effect in New York at the...

    Latest News

    House Speaker Mike Johnson (R-La.) on Wednesday appointed Reps. Scott Perry (R-Pa.) and Ronny Jackson (R-Tex.), two Trump loyalists who denied the results of...

    Disclaimer: realinvestmentstar.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 realinvestmentstar.com