- During the Asian trading session, EURUSD continues to rise from the 1.06000 level.
- During the Asian trading session, GBPUSD finds support at the 1.21000 level.
EURUSD chart analysis
During the Asian trading session, EURUSD continues to rise from the 1.06000 level. The euro jump formed a new high at the 1.06700 level. We are currently looking at a minor pullback to the 1.06400 level, and if the current pressure continues, we could find ourselves at the 1.06000 support level again.
A break below that support could further weigh on the EURUSD and send it lower. The lower possible targets are the 1.05500 and 1.05000 levels. We need further positive consolidation and a return above the 1.06600 level for a bullish option. That would take us back to the positive zone where we could continue the growth of the EURUSD. The highest potential targets are the 1.07000 and 1.07500 levels.
GBPUSD chart analysis
During the Asian trading session, GBPUSD finds support at the 1.21000 level. After which, we see some bullish momentum and the formation of a new high at the 1.21800 level. There has been a pause in the uptrend and the pound has pulled back to the 1.21300 level. We need negative consolidation and a drop in the pound below the 1.21000 level for a bearish option.
This would lead to more volatility and we should see further declines in GBPUSD. The lowest possible targets are the 1.20500 and 1.20000 levels. We need positive consolidation and a return above the 1.21500 level for a bullish option. Then we need to stay up there and with new momentum begin a further recovery. The highest potential targets are the 1.22000 and 1.22500 levels.
BONUS VIDEO: Weekly summary of market news
(embed)https://www.youtube.com/watch?v=cGZ4lwPUYo4(/embed)
!function (f, b, e, v, n, t, s) {
if (f.fbq) return;
n = f.fbq = function () {
n.callMethod ?
n.callMethod.apply(n, arguments) : n.queue.push(arguments)
};
if (!f._fbq) f._fbq = n;
n.push = n;
n.loaded = !0;
n.version = ‘2.0’;
n.queue = ();
t = b.createElement(e);
t.async = !0;
t.src = v;
s = b.getElementsByTagName(e)(0);
s.parentNode.insertBefore(t, s)
}(window, document, ‘script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘504526293689977’);
fbq(‘track’, ‘PageView’);
