• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Economy

EURUSD and GBPUSD: The Euro pulls back to the support zone

by July 29, 2024
written by July 29, 2024

EURUSD and GBPUSD: The Euro pulls back to the support zone

During this morning’s Asian trading session, EURUSD rose to 1.08700 level. 
During this morning’s Asian trading session, GBPUSD first rose to the 1.28900 level, forming a new high there. 

EURUSD chart analysis

During this morning’s Asian trading session, EURUSD rose to 1.08700 level. After forming a new high, the pair initiated a pullback to the weekly open price and the 1.08550 level. Additional support at this level is the EMA 50 moving average. We are currently seeing increased pressure on the euro in this zone, which could result in a move below. This will create a new low and confirm a weak euro.

Potential lower targets are the 1.08400 and 1.08300 levels. For a bullish option, we need a positive consolidation and retracement above the 1.08600 level. There, we will again test the EMA 200 moving average. This time, we could see a new breakout above, then try to hold there. After that, EURUSD will be in a better position to continue on the bullish side. Potential higher targets are the 1.08800 and 1.08900 levels.

 

GBPUSD chart analysis

During this morning’s Asian trading session, GBPUSD first rose to the 1.28900 level, forming a new high there. After that, we saw a stop there and a loss of momentum to continue on the bullish side. The pair behaved by initiating a bearish consolidation that continued at the beginning of the EU session. A strong bearish impulse influenced us to go down to 1.28452 and thus form a new weekly low.

This drop broke Friday’s low, reinforcing the continuation of the bearish consolidation. Potential lower targets are the 1.28400 and 1.28300 levels. For a bullish option, we need to get back above the 1.28700 level. With this, we return above the weekly open price to the positive side. If we manage to hold on, we will have an opportunity to start a bullish consolidation. Potential higher targets are the 1.28800 and 1.28900 levels.

 

The post EURUSD and GBPUSD: The Euro pulls back to the support zone appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Oil and natural gas: Oil under pressure at 77.00 level
next post
Gold and silver: gold again this morning above $2400

related articles

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Buy Bitcoin Under $100K Before The Next Bull...

April 22, 2025

BNB Price Surge Leads Crypto Gains as Bitcoin...

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

April 21, 2025

Bitcoin Slips to $83.6K Amid Nvidia’s $5.5B Charge

April 21, 2025

Gold Price Surge Hits $3,385 Amid Trade Tensions

April 21, 2025

Bitcoin Rebounds to $83,404 Amid Renewed Investor Confidence

April 21, 2025

Memecoins, AI, and DeFi Tokens Lead Crypto Rebound

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • U.S. homebuilders raise alarm over tariffs as sentiment falls to 5-month low

    February 19, 2025
  • Israel warns it will go after Lebanon directly if cease-fire with Hezbollah collapses

    December 3, 2024
  • Trump said to lift all military restrictions on Israel on 1st day in office according to reports

    November 15, 2024
  • Ted Cruz clashes with key Democrat over ‘second phase of lawfare’ through federal judges’ orders

    April 3, 2025
  • Harris rapidly consolidates Democrats’ support, and here’s what that means for November

    August 2, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,723)
  • Investing (624)
  • Stock (773)

Latest Posts

  • SafeMoon and LItecoin: SafeMoon tests new weekly support

    July 31, 2024
  • ONON Stock Deep Dive: Growth, Forecasts, and Comparisons

    August 15, 2024
  • Situation in Haiti worsens amid ‘acute violence’ as UN support mission falters under gang violence

    October 23, 2024

Recent Posts

  • Microsoft’s mammoth AI bet will lead to over $100 billion in data center leases

    October 2, 2024
  • Kamala Harris’ ‘friends’ trash her big week with ‘garbage’ insults and attacks on pro-Trump women

    November 1, 2024
  • Rand Paul recoils at Trump’s Gaza takeover plans: ‘I thought we voted for America First’

    February 5, 2025

Editor’s Pick

  • Trump nominates Air Force Lt. Gen. Dan ‘Razin’ Caine for Joint Chiefs of Staff chairman

    February 22, 2025
  • Top political courtroom moments of 2024

    December 1, 2024
  • Analysts are largely bullish on CoreWeave despite post-IPO struggles: read why

    April 22, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock