Connect with us

Hi, what are you looking for?

The Freedom RightThe Freedom Right

Economy

EURGBP and EURCHF: EURGBP has a chance for a recovery

EURGBP and EURCHF: EURGBP has a chance for a new recovery

During this morning’s Asian trading session, EURGBP gained new support at the 0.84160 level
During this morning’s Asian trading session, EURCHF successfully stabilized above the 0.93900 level

EURGBP chart analysis

During this morning’s Asian trading session, EURGBP gained new support at the 0.84160 level. From there, a bullish consolidation was initiated to a new daily high at 0.84300. With this step, we skipped Friday’s high and formed a new higher high. This indicates to us that the euro has strength and could push this pair to higher levels. Potential higher targets are 0.84400 and 0.84500 levels.

The 200 EMA in the 0.84500 zone is a major resistance and a potential obstacle to further recovery. For a bearish option, we need a negative consolidation and a pullback below the daily open price. This will move the EURGBP to the negative side and force it to continue with the previous bearish trend. Potential lower targets are the 0.84000 and 0.83900 levels.

 

EURCHF chart analysis

During this morning’s Asian trading session, EURCHF successfully stabilized above the 0.93900 level. This triggered a bullish consolidation at the beginning of the EU session to the 0.94100 level. We are now close to testing Friday’s high at the 0.94180 level. Slightly above it, the pair should continue to the 0.94300 level, where the EMA 200 moving average expects it to. Potential higher targets are the 0.94400 and 0.94500 levels.

For a bearish option, we need a new negative EURCHF consolidation to this morning’s support. This time, we expect a drop below and the formation of a new weekly low. This increases the pressure on the euro, and the pair will be encouraged to retreat and look for new support. Potential lower targets are 0.93800 and 0.93700.

 

The post EURGBP and EURCHF: EURGBP has a chance for a recovery 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

    Investing

    Vermont Sen. Bernie Sanders, 81, defended President Biden, 80, against voter critiques that he lacks the energy and vigor to continue leading the United...

    Investing

    Political advisers to both President Biden and Vice President Harris were reportedly annoyed with Democrat California Gov. Gavin Newsom over a planned debate with...

    Editor's Pick

    By the IoT Analytics team. A new report from IoT Analytics highlights eight notable trends helping to advance and promote digital twins. Four of...

    Stock

    A second delivery driver has died in Texas amid record-high temperatures, just as the regulation of workplace heat safety enters a new legal limbo...

    Disclaimer: thefreedomright.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 © 2020-2024 The Freedom Right. All Rights Reserved