2020-07-14 • Updated
The pair approaches the significant resistance at 61.8% Fibo level. Look for the breakout!
According to Rabobank, EUR/GBP may surge to 0.92. This movement can be caused by no-Brexit agreement. In addition, the combination of Brexit uncertainties and the COVID-19 economic damage may force the Bank of England to take extra measures to support the economy such as negative interest rates. In comparison with other countries, which have already imposed negative rates, the UK has an account deficit. This situation put the British pound under threat. Analysts from Commerzbank assured that if EUR/GBP breaks through the resistance at 0.9056, the pair may point to the 0.9129 resistance.
EUR/GBP has sharply rose since yesterday. It approaches the key resistance at 61.8% Fibonacci retracement level at 0.9084. If it breaks it through, the pair may surge to the 78.6% Fibo level at 0.9125. Support levels are at 0.9056 and 0.9029.
Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...
Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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