Connect with us

Hi, what are you looking for?

Oracle of  Omaha SaysOracle of  Omaha Says

Investing

EURUSD slowed decline, GBPUSD near the 1.24000 level

EURUSD slowed decline, GBPUSD near the 1.24000 level

EURUSD slowed its decline this week, moving in the 1.06000-1.06500 range. 
On Tuesday, GBPUSD retreated to a new weekly low at 1.24050 levels.

EURUSD chart analysis

EURUSD slowed its decline this week, moving in the 1.06000-1.06500 range. This morning, we were again in the support zone at the 1.06050 level. Similar to yesterday, we get support at that level and start a bullish consolidation up to the 1.06500 level. We are retesting the resistance zone and need another impulse above to jump to a new daily high. We have the support of the EMA50 moving average, which can reflect positively on today’s trend.

Potential higher targets are 1.06550 and 1.06600 levels. We need a negative consolidation and pullback below the EMA50 and 1.06300 for a bearish option to start. After that we expect to see a continuation to the bearish side and visit this week’s support zone. Potential lower targets are 1.06200 and 1.06100 levels.

GBPUSD chart analysis

On Tuesday, GBPUSD retreated to a new weekly low at 1.24050 levels. During the Asian trading session, the pair moved and maintained around 1.24300 levels. At the start of the EU session, data on British inflation were published, which were better than expected, and this influenced us to see a bullish impulse and a jump of the pound to the 1.24800 level. We made a break above the EMA50 moving average; for now, we are stable above that level.

Potential higher targets are 1.24900 and 1.25000 levels. If we see a pullback below 1.24500 and EMA50, we are back on the bearish side again. We will be under more pressure to continue the pullback to the previous support zone. Potential lower targets are 1.24400 and 1.24300 levels.

The post EURUSD slowed decline, GBPUSD near the 1.24000 level appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.
    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...

    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...

    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

    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