EUR/USD stabilising despite Russian invasion angst and weakness in Asian equities. Daily M-formation neckline has a confluence with the 50% and 61.8% ratios.
Bears in anticipation of a disruptive Russian headline to put 1.11’s in focus. EUR/USD is trading higher by some 0.12% in Asia with the euro catching a bid as it attempts to correct vs the greenback in what appears to be ‘wait and see’ market conditions unfolding. The bulls moved on the lows of Monday’s trade and stay in control through Asia, despite Russian invasion jitters and a wobble in Asian equities.
EUR/USD technical analysis..As for the daily chart, the euro has room to correct, so long as the media keeps a lid on the Russian invasion angst and does not misinterpret statements from global officials such as what happened in New York’s trade on Monday. With price stabilising in a familiar support area, the M-formation is compelling especially as the neckline has a confluence with the 50% and 61.8% ratios. With that being said, markets can turn on a dime at the drop of a disruptive Russian headline, and the 1.11 area is by no means a distant possibility.
EUR/USD: Sellers reclaim the 50/100-DMAs and test 1.1300.EUR/USD is downward biased, emphasized by EUR sellers reclaiming the 50-DMA. The shared currency falls for the second straight day, weighed by geopolitical concerns and US dollar strength. The DXY gained some 0.23% at 96.30, underpinned by higher US Treasury yields.
EUR/USD News .GBP/USD seesaws past-1.3500 on Brexit, Russia news, UK Unemployment Rate eyed.GBP/USD seesaws past-1.3500 on Brexit, Russia news, UK Unemployment Rate eyed.GBP/USD licks its wounds around 1.3530-35 with eyes on the key UK employment report during Tuesday’s Asian session. In doing so, the cable pair prints mild daily gains around a one-week low, after declining for the last two days.
GBP/USD News…Gold bulls pause on the way to $1,877 amid mixed clues
Gold seesaws around three-month high, taking rounds to $1,870 as traders seek fresh clues amid a sluggish Asian session on Tuesday. The yellow metal refreshed multi-day top the previous day on the market’s rush for risk-safety amid geopolitical fears.