Connect with us

Hi, what are you looking for?

The Freedom RightThe Freedom Right

Economy

EURUSD and GBPUSD: The Euro could move above 1.06000

EURUSD and GBPUSD: The Euro could move above 1.06000

During the Asian trading session, EURUSD was retreating from 1.06000 levels to support at 1.05735 levels.
During the Asian trading session, GBPUSD pulled back to support at the 1.21500 level.

EURUSD chart analysis

During the Asian trading session, EURUSD was retreating from 1.06000 levels to support at 1.05735 levels. The euro gained strength at the beginning of the EU session and started a bullish impulse up to the 1.05900 level. We are currently holding around that level and hope for a break above to return to the 1.06000 level. A move above would indicate a potential continuation to the bullish side. And potential higher targets are 1.06100 and 1.06200 levels.

We need a negative consolidation and a return to testing this morning’s support around the 1.05700 level for a bearish option. Additional support in that zone is the EMA50 moving average. A drop in EURUSD below these two supports would confirm the bearish pressure and influence the continuation of the pullback. Potential lower targets are 1.05600 and 1.05500 levels.

GBPUSD chart analysis

During the Asian trading session, GBPUSD pulled back to support at the 1.21500 level. There, we get support and make a new positive consolidation up to the 1.21700 level. Additional pressure in that zone is created by the EMA50 moving average. A break above would confirm the dominance of the bearish option, and we could expect to see a continuation of the pound’s recovery. Potential higher targets are 1.21800 and 1.21900 levels.

We need a negative consolidation and pullback to this morning’s support at the 1.21500 level for a bearish option. A drop below would introduce uncertainty into the recovery, and we would see a drop to lower support levels. Potential lower targets are 1.21400 and 1.21300 levels.

The post EURUSD and GBPUSD: The Euro could move above 1.06000 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

    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...

    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...

    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