The common European currency showed mixed trades on Friday. The euro extended its recovery in the Asian session. However, the recovery stalled below 1.0700 where buyers seemed to have met sellers’ resistance. Sellers defended the level and rejected prices to the 1.0650 region in the European session. There was a bullish spike at the NY open which faded at 1.0683. The current resistance is seen at 1.0700, the support lies at 1.0650.
The 1.0700 level limited euro further gains. A break above the level will open the way towards 1.0750. A daily closed below 1.0650 will ease the upward pressure. The pair may decline back to 1.0550.
The pound had a positive day on Friday. The pair maintained its bid tone extending its gains towards 1.2700 during the European hours. The pound took out the level in the NA session and refreshed multi month highs at 1.2727. The resistance is at 1.2800, the support comes in at 1.2700.
If the GBP/USD pair remains above 1.2700 buyers may climb to 1.2800. A move below the level will neutralize the upward momentum sending prices downwards.
The USD/JPY pair was neutral/negative on Friday. The price gave up its recent gains and slightly weakened. After a consolidation phase during the night traders pushed prices lower. The pair broke the level 114.00 and headed to 113.00. The resistance is seen at 114.00, the support stands at 113.00.
A daily close below 113.00 will put on hold bulls’ plans. The level 113.00 may stop the dollar weakening as it is the lower limit of the upward structure. A failure here will send prices downwards towards 111.00.
Read the full review on our site:
Only from November 02nd, 2020, to January 04th, 2021, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of […]
Only from 23 to 25 of November, the largest no deposit bonus 100 USD is available for all Forex traders! 🏆 Bonus details: 100 USD maximum withdrawal 75 lots of required trading turnover 2 weeks to try all of the trading conditions Available for cent accounts 📍 How to get the bonus: 1) Register an […]