Connect with us

Hi, what are you looking for?

Real Investment StarReal Investment Star

Economy

EURGBP and EURCHF: EURGBP is under pressure at 0.85550

EURGBP and EURCHF: EURGBP is under pressure at 0.85550

EURGBP is under strong pressure to slide to a new three-week low soon.
This morning, a new EURCHF three-week higher high was formed in the Asian session at the 0.98940 level.

EURGBP chart analysis

EURGBP is under strong pressure to slide to a new three-week low soon. On Friday, before the market’s closing, the pair retreated to the 0.85546 level. During this morning’s Asian trading session, the pair EURGBP tried to recover but only reached the 0.85680 level. We started another pullback from that level and are now at 0.85566, testing the previous low.

A new bearish impulse would quickly send us to a new low and thus confirm the weak euro. Potential lower targets are 0.85500 and 0.85450 levels. We need a positive consolidation and a return above the 0.85700 level for a bullish option. This moves us above the EMA50 moving average, and we hope for its support. Potential higher targets are 0.85750 and 0.85800 levels. In the 0.85800 zone, we will have the next major resistance in the EMA200 moving average.

EURCHF chart analysis

This morning, a new EURCHF three-week higher high was formed in the Asian session at the 0.98940 level. After that, the pair stops there, stalling its growth. A bearish momentum is starting, and now we are at the 0.98740 level. The current picture tells us we should expect a bigger pullback this week. Potential lower targets are 0.98600 and 0.98500 levels.

The first support is in the EMA50 moving average around the 0.98600 level. EURCHF must return above the 0.98835 weekly open price for a bullish option. This brings us back to the positive side. Then, we have to hold our ground again to initiate a positive consolidation for a new recovery. Potential higher targets are 0.99000 and 0.99100 levels.

 

The post EURGBP and EURCHF: EURGBP is under pressure at 0.85550 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