I’m looking to stay bullish above 1.2136 with a target of 1.2170 and 1.2200 on the upper side. Conversely, bearish positions are suggested below 1.2085 support.
Today, I'm sticking with the same plan to stay bearish below 1.1115 to target 1.1080 (already achieved) and 1.1060 support areas. Below this, the EUR/USD can extend bearish rally until 1.1030 today.
Immediate resistance stays at 1532. It’s a crucial level as a violation of this open further room for buying until 1545. On the lower side, gold is likely to gain support around 1,517 and 1,508.
The British Pound Sterling looks to extend its rebound off multi-year lows as GBP/USD finds buoyancy around the 1.2000 handle
The Eurozone’s July inflation figures kick the week off. Barring any deviation from prelim numbers, the focus will be on the headline month-on-month figure. EUR/USD capped by a Fibonacci resistance at 1.1110, yearly low at risk.
A trade through $1546.10 will negate the closing price reversal top and signal a resumption of the uptrend. A move through $1488.90 will confirm the closing price reversal top. This could trigger the start of a 2 to 3 day counter-trend break.
Cable is reversing two consecutive daily pullbacks, surpassing the 10-day SMA at 1.2107 and managing to retake the 1.2150 region on renewed and strong buying pressure in the British Pound.
EUR/USD broke below a critical Fibonacci level at 1.1110, at risk of re-testing yearly lows.
BTC/USD momentum remains tilted to the downside, dropping for the past three consecutive sessions. The $10,000 price mark is losing much ground, with eyes on a potential return down to $9000.
Gold Aug 15 - Fibonacci Retracement Gold prices rose 1% on Wednesday, after falling as much as 2% in the previous session, as an inversion in U.S. Treasury yields and a slew of weak economic data from China and Germany raised fears of a global recession.
Gold prices rose 1% on Wednesday, after falling as much as 2% in the previous session, as an inversion in U.S. Treasury yields and a slew of weak economic data from China and Germany raised fears of a global recession. For now let's keep an eye on Fibonacci Retracement levels!
The bear trend remains intact as GBP/USD is hovering near multi-month lows. The levels to beat for bears are seen at 1.2060 and 1.2036 supports.
EUR/USD is trading at fresh weekly lows below the 1.1160 key level. The market has room to potentially fall towards the 1.1130 and 1.1106 levels