EUR/USD expects a gradual advance to 1.1000.

EUR/USD could have embarked on a gradual move to the 1.1000 area.

Key Quotes

24-hour view: “EUR edged to a high of 1.0923 yesterday before closing at 1.0915 (+0.28%). Upward momentum has improved a tad and EUR is likely to continue to edge higher, possibly above 1.0950. The next resistance at 1.1000 is unlikely to come under threat today. Support is at 1.0900, followed by 1.0880.”

Next 1-3 weeks: “While upward momentum has not improved much, EUR appears poised to head higher toward 1.1000. In view of the current lackluster momentum, any advance is likely to be slow and grinding. The current mild upward pressure is intact as long as EUR stays above 1.0840.”

EUR/USD holds steady above 1.0900 ahead of US GDP

EUR/USD is holding steady above 1.0900 in the early European morning. The US Dollar consolidates near multi-month lows amid weaker Treasury yields and a cautious risk tone. Investors refrain from placing fresh bets on EUR/USD ahead of the critical US GDP release. 

EUR/USD News 

GBP/USD struggles with 1.2400, US GDP in focus

GBP/USD is struggling to extend the previous gains at around 1.2400 heading into Thursday’s London open. The US Dollar is licking its wound alongside weaker US Treasury yields amid dovish Fed bets and pre-US GDP anxiety. 

GBP/USD News 

Gold fails to kiss $1,950 as USD attempts recovery ahead of US GDP

Gold price is struggling to test the $1,950.00 resistance as anxiety soars ahead of the US GDP. The USD Index is building a cushion around 101.10 but could deliver a breakdown amid a risk-on mood. Rising odds of a smaller interest rate hike by the Fed are weighing down US yields.

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