Current level – 1.0888

The common European currency recovered some of its recent losses against the dollar, and during the early hours of today`s trading, the pair is about to test the resistance zone at 1.0896. A successful breach for the bulls could easily lead to a continuous recovery towards the target at 1.0940. If the bears re-enter the market, then a successful attack on the support zone at 1.0850, followed by a violation of the zone at 1.0811, could lead to more losses and could strengthen the negative expectations for the future path of the EUR/USD. Today, the most important news for investors is the announcement of the European Central Bank Interest Rate Decision (today; 11:45 GMT), as well as the expected Initial jobless claims for the U.S. (today; 12:30 GMT).


Current level –  125.31

The test of the resistance zone at 125.75 was not successful and the currency pair consolidated around the current level at 125.32. A new attack on the mentioned resistance is a highly probable scenario, but only a violation of the mentioned level could continue the rally and lead to new gains for the USD against the JPY. If the bears prevail, then a breach of the close support at 124.74 could deepen the sell-off for the dollar and easily lead the Ninja towards the important zone at 124.00.


Current level – 1.3137

The positive sentiment remained and the pound continued to gain ground against the dollar. The pair breached the resistance at 1.3105, and during the time of writing this analysis, the Cable is headed for a test of the upper target at 1.3165. A violation of the mentioned zone would strengthen the positive expectations for the future path of the pair and could easily lead to a rally towards the level at around 1.3217. If the bullish momentum fades and this proves to be a corrective move, then the first level of support would be the zone at 1.3105, followed by the lower level at 1.3048.

Gold price crawls upwards

Gold price hovers around the intraday bullish channel’s resistance, affected by stochastic negativity that hinders the mission of continuing the rise, waiting to get positive motive that assist to push the price to achieve our main expected target at 2000.00.

Until now, the bullish trend scenario still valid and active for the upcoming period supported by the EMA50, reminding you that it is important to hold above 1960.00 to continue the expected rise.

The expected trading range for today is between 1950.00 support and 2000.00 resistance.

The expected trend for today: Bullish

Source: Technical analysis

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