Eurozone

EUR/GBP Intraday Long Setup (30M) – Higher Low Continuation The chart shows a developing bullish structure on EUR/GBP after a period of consolidation. Price action has formed a higher low followed by a series of higher highs, indicating a potential shift toward short-term upside momentum. After a sharp impulsive move upward, price pulled back in a controlled manner, respecting a rising trendline. This corrective phase suggests accumulation rather than distribution, with buyers stepping in at higher levels. Trade Idea: Entry: Around 0.8663 (near current

100-SMA tests EURUSD bulls ahead of EU GDP, US CPI EURUSD rises to the highest level in five weeks, up for the third consecutive day, as traders await the second reading of the Eurozone Q1 GDP and the US headline inflation number, namely the Consumer Price Index (CPI). In doing so, the Euro pair justifies the previous day’s successful clearance of the 200-SMA hurdle, backed by the upside RSI (14) line and the bullish MACD signals. However, the 100-SMA and a downward-sloping resistance line from late December 2023, close to 1.0825 and 1.0835 resp

by MTradingGlobal

EURUSD challenges bullish channel formation on Fed day Softer prints of the Eurozone inflation joined the overall risk-off mood and slightly upbeat US data to drag the EURUSD pair down on Tuesday. Adding strength to the bearish bias are the hopes of witnessing one more rate hike from the US Federal Reserve (Fed) during 2023, as well as the bearish MACD signals and steady RSI. However, a one-month-old ascending trend channel, currently between 1.0710 and 1.0540, provides headwinds to the Euro sellers. In a case where the major currency pair breaks th

by MTradingGlobal