The EUR/USD pair remained neutral being confined to the tight range between 1.0720 and 1.0750. The price went back and forth in the sideways being unable to choose direction on Wednesday. The resistance is seen at 1.0750, the support stands at 1.0700.
Range trading is expected to continue in the short-term.
The tone is still positive in the market. The pound faced further buying pressure and moved higher during the day. The GBP/USD pair rebounded from 1.2500 in the early European trades and rallied to 1.2600. The rate reached the hurdle ahead of the NY session opening and after a brief pause broke the level. The current resistance is seen at 1.2700, the support exists at 1.2600.
A sharp breakout above 1.2600 could spark a further growth towards 1.2700. If the level holds the GBP/USD pair may decline to the 1.2500 area.
The pair traded sideways yesterday. The price was in-between 114.00 and 113.00. An attempt to recover faded away after touching 114.00. The spot bounced off the level and dropped to 113.00. The resistance exists at the level 114.00, the support comes in at 113.00.
The price eyes a support at 113.00 loss of which would trigger further sellers’ gains towards 112.50.
Read the full review on our site:
Dear traders! We are glad to announce the launch of new promo “CHINESE NEW YEAR” which allows you to increase your profits from trading in the world financial markets! Starting from 1 February 2019 and up to 1 March 2019 an additional 2% of profit will be credited for each profitable trade as well as […]
Dear Traders! We are pleased to announce the launch of the “Welcome Bonus 75 USD” promotion! Starting from 21.01.2019 and until 01.02.2019 inclusive welcome bonus of 75 USD or equivalent in another currency is available to all clients of the company.