EUR/USD adds to the upside momentum near 1.0700.
Extra gains initially target the weekly high at 1.0713.EUR/USD picks up extra upside traction and flirts with the 1.0700 barrier at the beginning of the week.If the recovery gathers extra steam, then the pair should challenge the weekly top at 1.0713 (December 30). Once cleared, the next hurdle of relevance is seen at the December 2022 peak at 1.0736 (December 15).
In the meantime, further gains remain in store for the pair while above the 200-day SMA at 1.0310.
EUR/USD stays below 1.0700 after dismal EU Sentix data
EUR/USD is keeping its range below 1.0700 in the European session, little affected by the Eurozone Sentix data. The pair is taking advantage of the extended weakness in the US Dollar amid hopes of a dovish Fed pivot and China’s reopening optimism.
EUR/USD News
GBP/USD extends gains above 1.2150 amid upbeat mood, softer US Dollar
GBP/USD is building onto previous gains above 1.2150 amid a risk-on mood in European trading. Broad US Dollar weakness is underpinning the pair, as investors assess Fed rate hike expectations and BOE policymaker Mann’s comments on inflation.
GBP/USD News
Gold hits eight-month high, bulls retain control amid weaker US Dollar
Gold price gains positive traction for the second successive day on Monday and climbs to an eight-month high, around the $1,880 area during the early European session.
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