• 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

  • Justice Department moves to unseal Epstein, Maxwell grand jury transcripts amid calls for transparency

    July 19, 2025
  • Biden vetoes bill that would have given Trump more judicial seats to fill

    December 24, 2024
  • Biden admin extends $10B Iran sanctions waiver 2 days after Trump election win

    December 11, 2024
  • Drone incursions on US bases come under intense scrutiny as devices prove lethality overseas

    June 26, 2025
  • Trump wants to visit China again after he takes office: report

    January 19, 2025

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

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

    July 19, 2024
  • 3

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

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

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

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,247)
  • Investing (634)
  • Stock (935)

Latest Posts

  • Climate lawfare is running into a powerful force liberals didn’t expect

    February 10, 2025
  • Ex-Biden advisor calls Jean-Pierre ‘kinda dumb,’ deletes tweet, says she’s not a ‘genius-level Black woman’

    June 5, 2025
  • Three ways President Biden just helped Kamala Harris close in on Donald Trump

    July 25, 2024

Recent Posts

  • Trump asks Supreme Court for urgent ruling on tariff powers as ‘stakes could not be higher’

    September 4, 2025
  • After stinging election defeats, DNC eyes rural voters as key to 2026 midterm success

    January 31, 2025
  • Trump says Israel and Iran ‘have to fight it out’ but believes deal is possible

    June 16, 2025

Editor’s Pick

  • Biden’s ‘Woke Green Agenda’ on chopping block as EPA announces ‘most consequential day of deregulation’

    March 12, 2025
  • Republicans seek to block the reappointment of UN official accused of antisemitism

    April 2, 2025
  • Trump’s ‘big, beautiful bill’ faces Republican family feud as Senate reveals its final text

    June 28, 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