Economic News

EUR/USD battles1.1600 amid the dollar’s rebound

EUR/USD battles1.1600 amid the dollar’s rebound

The Relative Strength Index on the four-hour chart is simply under 30, accordingly in the oversold domain. That infers a ricochet is inevitable, yet it very well may be brief. Euro/dollar is experiencing huge drawback force and exchanges well underneath the 50, 100, and 200 Simple Moving Averages. Generally speaking, EUR/USD is moving downwards. As of late, EUR/USD was traded into the resistance zone of 1.16300. Right now, EUR/USD is trying the resistance zone of 1.16300 and the following support zone is at 1.15000. Search for selling chances of EUR/USD on the off chance that it cuts off the resistance zone of 1.16300. Some resistance is at 1.1610, where a recuperation endeavor was defeated on Thursday. Further above, 1.1660 and 1.1680 are anticipated.

GBP/USD pair remains subdued during the Asian session, the range below 1.3550

Generally speaking, GBP/USD is moving downwards. As of late, GBP/USD broke over the vital resistance of 1.35. Some support is at the everyday low of 1.3430. It is trailed by the 2021 box of 1.34, and afterward by 1.3310. Resistance is at the everyday high of 1.3480, trailed by 1.3520, Thursday’s swing high. Following up, 1.3575 and 1.36 anticipate bulls. As of now, GBP/USD is moving towards the resistance zone of 1.36000 and the following support zone is at 1.34000. Search for selling chances of GBP/USD if it dismisses the resistance zone of 1.36000.

USD/JPY consolidates losses on the first trading day of the week.

Generally speaking, USD/JPY is moving upwards. As of late, USD/JPY was traded into the support zone of 110.800. Technically talking, the USD/JPY pair has been riding higher since September 22 and topped at the yearly highs at 112.08. The bulls look depleted now and post for some prompt help around 111.00-111.20. Presently, if the cost took a further plunge, it would wind up with a more profound revision. Having said that, the main drawback target could be found at Tuesday’s low of 110.93. The Moving Average Convergence Divergence (MACD) pointer exchanges the overbought zone. Currently, USD/JPY is trying the support zone of 110.800 and the following resistance zone is at 112.000. Search for buying chances of USD/JPY if it dismisses the support zone of 110.800.

Gold pares intraday gains near a one-week high during early Monday

The Technical Confluences Detector is showing that gold has support at $1,754, which is a cluster including the Bollinger Band 15min-Middle, the Simple Moving Average 10-15m, the Fibonacci 23.6% one-day and several additional lines. A more considerable cushion awaits at $1,748, which is where the all-important Fibonacci 38.2% one day and the Fibonacci 23.6% one month. Looking up, some resistance awaits at $1,764, which is the meeting point of the previous daily low and the Fibonacci 38.2% one day. The next target is $1,771, which is the confluence of the Bollinger Band one-day Middle and the Pivot Point one-day Resistance 1 meet.