Connect with us

Hi, what are you looking for?

Oracle of  Omaha SaysOracle of  Omaha Says

Investing

EURUSD and GBPUSD: EURUSD falls to a new yearly low

EURUSD and GBPUSD: EURUSD falls to a new yearly low

Friday brings EURUSD to the lowest value in 2024 at 1.06817 level. 
On Wednesday, there was a big drop in GBPUSD from 1.27000 to 1.25200 level.

EURUSD chart analysis

Friday brings EURUSD to the lowest value in 2024 at 1.06817 level. The pair started to retreat on Wednesday after the announcement of US inflation for the month of March. The data showed that inflation is higher than expected, delaying the interest rate change by the FED. On Wednesday, EURUSD retreated from 1.08650 to 1.07300 levels.

Then, on Thursday, we saw some consolidation and an attempt to recover, but it didn’t give results as we retreated to the 1.07000 level. During this morning’s Asian session, the pressure on EURUSD continued, and we saw a break below yesterday’s low and a drop to the 1.06810 level. The bearish impulse is very strong, and we could go even lower. Potential lower targets are 1.06700 and 1.06600 levels.

GBPUSD chart analysis

On Wednesday, there was a big drop in GBPUSD from 1.27000 to 1.25200 level. We spent Thursday in lateral consolidation and trying to recover. We only managed to move up to the 1.25700 level, where we encountered resistance. During this morning’s Asian session, the pair was maintained at 1.25600, but the EU session brings us new pressure on the pound. This brings us below yesterday’s low to a new weekly level of 1.25050.

If the current bearish momentum continues, we can expect a further pullback and drop to a new lower low. Potential lower targets are 1.24900 and 1.24800 levels. We need to go back up to the 1.25600 level for a bullish option. By moving above, we will be in a better position to initiate a more concrete recovery. Potential higher targets are 1.25800 and 1.26000 levels.

The post EURUSD and GBPUSD: EURUSD falls to a new yearly low appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Free Trading Ideas, 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

    Latest News

    A former Republican legislative candidate who traveled to Washington for former President Donald Trump’s ‘Stop the Steal’ rally was arrested Friday and charged with...

    Stock

    Even as U.S. inflation broadly cools, frozen vegetable prices are hot. The average shelf price for frozen veggies rose by 18% in the past year...

    Latest News

    Abbe Lowell, Hunter Biden’s attorney, filed an ethics complaint Friday against Georgia Rep. Marjorie Taylor Green after she displayed censured nude photos of the president’s...

    Latest News

    President Biden has overruled the Pentagon and chosen Adm. Lisa Franchetti to lead the Navy, making her the first woman, if she’s confirmed, to...

    Disclaimer: Oracleofomahasays.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 Oracleofomahasays.com