EUR/USD extends the optimism to the 1.0270 region on Monday.Extra gains look likely on a breakout of the 1.0280 zone.EUR/USD’s upside momentum has faltered once again around the 1.0270 region at the beginning of the week.
Ideally, the pair should clear the area of recent peaks around 1.0280 to allow for the continuation of the rebound in the near term. Against that, the next hurdle now appears at the temporary 55-day SMA, today at 1.0428.
In the meantime, the pair is expected to remain under downside pressure while below the 6-month support line around 1.0450.In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0955.
EUR/USD retreats below 1.0250 ahead of US PMI.EUR/USD has lots ist bullish momentum and declined below 1.0250 heading into the American session. Ahead of the ISM’s July Manufacturing PMI report, however, the pair manages to hold in positive territory with the US Dollar Index extending its slide toward 105.50.
GBP/USD clings to strong gains above 1.2200, eyes on US data
GBP/USD has retreated from the daily high it touched above 1.2250 but managed to hold above 1.2200. The dollar is having a difficult time finding demand on Monday as market participants await the ISM Manufacturing PMI data for July.
Gold climbs above $1,770 on falling yields
Gold has regained its traction and advanced beyond $1,770 ahead of the American session. The benchmark 10-year US Treasury bond yield, which climbed to 2.7% earlier in the day, erased its daily gains in the last hour, helping XAU/USD push higher.
Ripple battles the SEC with massive cross-border payment growth
Ripple witnessed massive growth in On-Demand Liquidity related sales. Despite the ongoing legal battle with the SEC, the payment giant continued its expansion and partnerships. Analysts have revealed a bullish outlook on XRP.