GBP/USD struggles at 1.2400 and stumbles toward 1.2360 on US data, dismal UK retail sales.

GBP/USD trims some of Wednesday’s gains after treading above 1.2400, United States economic data bolstered the US Dollar, a headwind for the Pound Sterling.Retail Sales in the UK were dismal while Brexit negotiations improved, according to McGrath, Irish PM. GBP/USD dipped as the release of US economic data bolstered the US Dollar (USD), which isContinue reading “GBP/USD struggles at 1.2400 and stumbles toward 1.2360 on US data, dismal UK retail sales.”

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 toContinue reading “EUR/USD expects a gradual advance to 1.1000.”

EUR/JPY Price Analysis: A drop to the 200-day SMA remains in store.

EUR/JPY loses further ground and breaches the 142.00 level.The next support is seen at the key 200-day SMA near 140.80.EUR/JPY adds to the weekly leg lower and breaks below the key support at 142.00, or 2-day lows, on Wednesday. In case the downside accelerates, the next support of note emerges at the 200-day SMA, todayContinue reading “EUR/JPY Price Analysis: A drop to the 200-day SMA remains in store.”

EUR/GBP Price Analysis: En route 0.8860 hurdle during four-day uptrend.

EUR/GBP grinds near weekly high, up for the fourth consecutive day.Clear rebound from 50% Fibonacci retracement, upside break of 100-SMA favor bulls. One-week-old resistance line restricts immediate upside ahead of monthly top. EUR/GBP picks up bids to 0.8845 as bulls poke intraday high, as well as the weekly top, heading into Wednesday’s European session. InContinue reading “EUR/GBP Price Analysis: En route 0.8860 hurdle during four-day uptrend.”