Economy

EURUSD and GBPUSD: New week, new targets and prices

By October 7, 2024

EURUSD and GBPUSD: New week, new targets and prices

Last week, we saw a drop in EURUSD to 1.09514 levels on Friday
During this morning’s Asian trading session, GBPUSD encountered resistance at the 1.31350 level

EURUSD chart analysis

Last week, we saw a drop in EURUSD to 1.09514 levels on Friday. The Euro has been under pressure all week, culminating on Friday. Positive news from the US market caused the pair to retreat to a 50-day low. During this morning’s Asian trading session, the movement took place in the 1.09640-1.09780 range. The slight negative picture is because we are below the daily open level of 1.09750.

EURUSD will have to move back above if it plans to initiate a new bullish consolidation. A further recovery to the 1.10000 level moves us to test the EMA 50 moving average. Going above, we get support, and after a week, we will be again above EMA 50. Potential higher targets are 1.10200 and 1.10400 levels. For a bearish option, we need a continuation of the EURUSD pullback below the 1.09500 level. Thus, we move to a new October low and continue the previous bearish consolidation. Potential lower targets are 1.09400 and 1.09200 levels.

GBPUSD chart analysis

During this morning’s Asian trading session, GBPUSD encountered resistance at the 1.31350 level. Last week did not favor the pound as it retreated to 1.30698. Now, at the start of today’s EU session, we see support at 1.31000 and expect to hold here before continuing the recovery. Potential higher targets are 1.31200 and 1.31400 levels.

Additional resistance for GBPUSD could be in the 1.31250 zone in the EMA 50 moving average. If the pound fails to stabilize, the bearish pressure will intensify. By falling below the 1.31000 level, we will form a new daily low and thus confirm that we are still on the bearish side. Potential lower targets in 1.30800 and 1.30600 levels.

The post EURUSD and GBPUSD: New week, new targets and prices appeared first on FinanceBrokerage.

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Economy

USDCHF and USDJPY: New Weekly Targets and Prices

By October 7, 2024

USDCHF and USDJPY: New Weekly Targets and Prices

During this morning’s Asian trading session, USDCHF is finding support at the 0.85750 level
Last week, USDJPY rose to 149.13 to a new 50-day high

USDCHF chart analysis

During this morning’s Asian trading session USDCHF is finding support at the 0.85750 level. The pair has returned above the daily open level and is now on the positive side. We expect to move above the 0.86000 level soon and form a new daily high. Bullish momentum is also growing, and everything points to further growth. Potential higher targets are 0.86200 and 0.86400 levels.

For a bearish option, we need a negative consolidation and pullback of USDCHF below this morning’s support zone. With a break below, we are going to a new daily low. Such a picture indicates that the pair has no strength to recover and that we are turning to the bearish side. Potential lower targets are 0.85600 and 0.85400 levels.

USDJPY chart analysis

Last week, USDJPY rose to 149.13 to a new 50-day high. During this morning’s Asian session, the pair made a slight step down to support at the 148.40 level. It is now putting pressure on this zone, and we are monitoring the situation to see if it will hold. If it holds and we return above the daily open level, USDJPY could start a new bullish consolidation. After that, we expect a visit to last week’s high and a continuation above at a new high.

Potential higher targets are 149.00 and 149.50 levels. For a bearish option, we need a negative consolidation and a drop below this morning’s support zone. By descending to a new daily low, we confirm the transition to the bearish side. Strengthening bearish momentum would have the effect of pulling USDJPY to a new low. Potential lower targets are 148.00 and 147.50 levels. Possible support is the EMA 50 moving average in the 147.50 zone.

The post USDCHF and USDJPY: New Weekly Targets and Prices appeared first on FinanceBrokerage.

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Economy

AUDUSD and AUDNZD: New Targets and Prices for Monday

By October 7, 2024

AUDUSD and AUDNZD: New Targets and Prices for Monday

Last Friday, AUDUSD retreated to the 0.67856 level, forming a new 15-day low there
Last week, AUDNZD was in a strong bullish trend from 1.08694 to 1.10500

AUDUSD chart analysis

Last Friday, AUDUSD retreated to the 0.67856 level, forming a new 15-day low there. During this morning’s Asian trading session, the pair attempted a bullish consolidation but stopped at the 0.68100 level. The new pressure in that zone did not allow us to continue with the recovery, but we were again forced to turn to the bearish side. The pair is now at 0.67925, returning below the daily open level.

With this move, we will test last week’s low and form this week’s new low. Potential lower targets are 0.67800 and 0.67700 levels. For a bullish option, AUDUSD must first find a new support level. After that, we can expect the start of bullish consolidation. The growth above 0.68100 takes us to a new daily high and confirms the bullish momentum. Potential higher targets are 0.68200 and 0.68300 levels.

AUDNZD chart analysis

Last week, AUDNZD was in a strong bullish trend from 1.08694 to 1.10500. During this morning’s Asian trading session, the pair continued to grow, forming a new October high at the 1.10534 level. For now, at the beginning of the EU session, we see a slight pullback to 1.10480, but we remain in the bullish channel. We will wait for new support before proceeding again to the bullish side.

Potential higher targets are 1.10600 and 1.10800 levels. For a bearish option, we need a negative consolidation to the daily open level. Failure of the AUDNZD to hold there will move it below to the downside. After that, the pair will be under pressure to start a further pullback to new support. Potential lower targets are 1.10200 and 1.10000 levels. The first possible support is the EMA 50 moving average in the 1.10300 zone.

The post AUDUSD and AUDNZD: New Targets and Prices for Monday appeared first on FinanceBrokerage.

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October 7, 2024