EUR/GBP continues trading within an uptrend. The pair has managed to break above 0.9000 (38.2% Fibonacci retracement of the March-April decline) which now acts as support.
EUR/USD: euro started to SSA
Technical levels: support – 1.2230, 1.2270; resistance – 1.2350, 1.2400.
- Buy — 1.2300; SL — 1.2280; TP1 — 1.2400; TP2 — 1.2450
Reason: narrowing bearish Ichimoku Cloud with raising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with narrowing channel; the prices are supported by Senkou Span B and going to upper border of the Ichimoku Cloud.
EUR/USD will likely trade within the range in stayed in yesterday. The 100-period MA on the H4 (1.1225) supports the pair.
EUR/JPY reversed down at the 200-week MA around 124.45. The pair became really overbought and formed a reversal pattern on the D1.
Risk-on pushed stocks and riskier currencies upward.
It’s simply the question of time before gold price gets to the higher levels…
Coronavirus and massive oil oversupply was a once-in-a-generation coincidence. Is the worst over?