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

EURUSD and GBPUSD: EURUSD continues to consolidate

by August 7, 2024
written by August 7, 2024

EURUSD and GBPUSD: EURUSD continues to consolidate

During this morning’s Asian trading session, EURUSD moved in the 1.09000-1.09300 range. 
Yesterday, we saw GBUPSD pull back to a new weekly low at the 1.26728 level.

EURUSD chart analysis

During this morning’s Asian trading session, EURUSD moved in the 1.09000-1.09300 range. The pair’s movement is significant, as it’s between the weekly open price on the lower side and the daily open price on the upper side. This indicates that we’ve been in a pullback for the last two days after EURUSD reached the 1.10089 level on Monday. This could lead to a drop below the weekly open price and the formation of a new weekly low.

There’s potential for a bullish option, which could provide a positive outlook for the market. A positive consolidation and a move above the 1.94000 daily open price are crucial. If we can hold on there, we could see a further move to the bullish side. This could lead to potential higher targets at the 1.09600 and 1.09800 levels.

 

GBPUSD chart analysis

Yesterday, we saw GBUPSD pull back to a new weekly low at the 1.26728 level. After that, the pair stopped further retreating, and a bullish consolidation was initiated. During this morning’s Asian trading session, we received support at the 1.27000 level, after which we continued to a new daily high at 1.27270. Here, we will try to find support in the EMA 50 moving average for a continuation to the bullish side.

Potential higher targets are 1.27600 and 1.27800 levels. In the zone of 1.27900, we will meet the EMA200 moving average. Movement in that zone will determine the trend for GBPUSD. For a bearish option, we need a negative consolidation back to the 1.27000 level. New pressure on this morning’s support level could create an impulse below to a new low. This moves us below the daily open price, which will increase the bearish pressure on the pound. Potential lower targets are 1.26800 and 1.26600 levels.

 

The post EURUSD and GBPUSD: EURUSD continues to consolidate appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Oil and Natural Gas: Oil continues bullish toward $75.00
next post
The dollar index managed to stabilize and start a recovery

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

  • 3 years since bombing on Abbey Gate, Biden admin see consequences of ‘greatest foreign policy blunder’

    August 26, 2024
  • Marc Benioff is in talks to sell Time to Antenna Group

    November 2, 2024
  • GOP talks on millionaire tax hike come from party’s populist streak, strategists say

    April 24, 2025
  • Kash Patel flips script on Dem senator after being grilled on J6 pardons: ‘Brutal reality check’

    January 30, 2025
  • Trump campaign’s closing message to voters: ‘Harris broke it, Trump will fix it’

    October 24, 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

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

    July 19, 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 (5,005)
  • Investing (634)
  • Stock (809)

Latest Posts

  • Flashback: Top five wildest moments from Elon Musk’s DOGE tenure as it comes to an end

    May 29, 2025
  • Israel considers preemptive strike on Iran as tensions escalate: report

    August 5, 2024
  • The top 5 political stories of 2024

    January 1, 2025

Recent Posts

  • There’s been a ‘meaningful shift’ in CEO confidence since Trump’s election, says Goldman’s Solomon

    January 15, 2025
  • Turkey’s Erdogan continues crackdown on protesters following arrest of main rival on corruption charges

    March 24, 2025
  • Russia reduces sentence for American Robert Woodland, who was convicted on drug charges

    April 22, 2025

Editor’s Pick

  • Ivanka Trump’s inauguration gown gives nod to Audrey Hepburn as star’s son shares ties between famous families

    January 23, 2025
  • RNC chair on GOP’s mission going forward: ‘Make sure…Trump voters become Republican voters’

    January 17, 2025
  • The Euro index has a new opportunity to be bullish

    September 5, 2024
  • 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