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EUR/USD, GBP/USD and AUD/USD pullback could ultimately represent buying opportunity

EUR/USD, GBP/USD and AUD/USD head lower, but could this just be a breather before the bulls come back into play?

AUDSource: Bloomberg
 
 Joshua Mahony | Senior Market Analyst, London | Publication date: Monday 13 September 2021 

EUR/USD slumps as we reverse recent gains

EUR/USD has built on the bearish breakdown seen last week, with another sharp selloff coming into play this morning. Coming off the back of a rally into the $1.1908 resistance level, we have seen the bears in charge ever since.

With the price starting to regain some ground in this current candle, there is a chance we move into another retracement phase for the near-term. However, we would need to see a break up through the $1.185 level the negate the bearish intraday picture.

Despite the likeliness of another move lower, the recent rally into $1.1908 does point towards the pair potentially bottoming out around Fibonacci support.

EUR/USD chartSource: ProRealTime

GBP/USD pulls back within consolidation phase

GBP/USD has found support on $1.3731 and resistance on $1.3888, with the pair clearly in consolidation mode of late.

The declines seen over the course of the Friday bring us back towards the 61.8% Fibonacci support level, although there is a good chance we see the price fall further over the coming days.

Ultimately we will need to see the price break out of this $1.7371 to $1.3888 consolidation zone to bring a signal of where we go from here.

GBP/USD chartSource: ProRealTime

AUD/USD find support after recent declines

AUD/USD has started to regain its footing after a decline into the confluence of horizontal and trendline support.

The pair has been an outperformer of late, highlighting the potential that AUD/USD will lead the way out of this current pullback.

However, we would need to see a break through $0.741 resistance to bring about a fresh bullish outlook or the pair.

AUD/USD chartSource: ProRealTime
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EUR/USD, GBP/USD and USD/JPY look to make gains

Risk appetite is recovering, leading to gains for the euro and sterling against the dollar, and for the dollar against the yen.

USDSource: Bloomberg
 
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Tuesday 14 September 2021 

EUR/USD looks for gains after Tuesday recovery

EUR/USD bulls will be hoping that the bounce from yesterday’s lows marks the beginning of a broader recovery that will renew the move higher from late August and see the pair move back to, and then above, the $1.19 level.

Yesterday saw the price recover from a $1.177 low to end the day flat, providing hope for the bulls. Sellers will want to see this reversed to open the path to $1.165.

EUR/USD chartSource: ProRealTime

GBP/USD targets further gains

After being knocked back on Friday, the GBP/USD's price managed to bounce from $1.38 yesterday, leaving the upward move intact.

Recent gains have stalled around $1.387, so a bigger rebound requires this level to be broken to the upside to open the path to $1.40. The bearish view has been negated for the time being, but would be revived to an extent with a move back below $1.375.

GBP/USD chartSource: ProRealTime

USD/JPY pushes higher

USD/JPY continues to claw back losses after the drop seen last Thursday.

A continued move higher brings ¥110.40 into view, and then on to ¥110.70, where gains have stalled since mid-July. The ascendancy of the bullish view is still only slight, and a move back below ¥109.50 would put the bears in charge for the time being.

USD/JPY chartSource: ProRealTime
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Dollar weakness lifts EUR/USD and GBP/USD while hitting USD/JPY hard

After a weaker US CPI print yesterday the dollar gained, but this state of affairs has reversed in early trading on Wednesday. Video

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Chris Beauchamp | Chief Market Analyst, London | Publication date: Wednesday 15 September 2021. 

EUR/USD holds 50-day SMA

Hopes of a rebound yesterday with EUR/USD were dashed, but again the price is holding the 50-day simple moving average (SMA) $1.1801, keeping the possibility of a new bounce open.

This would then mark a resumption of the move higher from mid-August, targeting $1.19 and higher. Sellers have been unable to revisit last week’s low, and until they do, the bearish view is cancelled out.

EUR/USD chartSource: ProRealTime

GBP/USD rallies after CPI figures

Cable’s gains in the wake of employment data yesterday with GBP/USD fizzled out after US consumer price index (CPI), but as with EUR/USD the pair has not make a move back to last week’s lows.

Again, the 50-day SMA ($1.3807) continues to provide support, with the price still apparently girding itself for a new move back towards $1.39 following a strong UK CPI reading. A conclusive break lower still eludes the sellers, leaving the bull case intact.

GBP/USD chartSource: ProRealTime

USD/JPY slumps after break below trendline support

USD/JPY weakness has finally precipitated a change here, as the bear case roars back into life.

A classic case of a break of trendline support has seen the price drop sharply, leaving the bears firmly in charge, opening the way to more downside below ¥109.00 unless the buyers can somehow find the strength for a bounce.

USD/JPY chartSource: ProRealTime
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EUR/USD, GBP/USD and AUD/USD all under pressure

Risk aversion dominates in early trading, as Wednesday’s gains fizzle out and sellers take charge. Video.

Forex-global-component-banner.jpg

 Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 16 September 2021 

EUR/USD struggles as USD strengthens

The continuation of the rally here is in jeopardy as the price of EUR/USD struggles to hold any of the gains made yesterday. A renewed decline below $1.177 would put the sellers in charge and open the way to additional downside.

Buyers will be hoping the price recovers today and moves on above Wednesday’s high above $1.183.

EUR/USD chartSource: ProRealTime

GBP/USD falls back from Wednesday high

Here too the gains of Wednesday with GBP/USD have been reversed. There appears to be little desire to push on above $1.385, with the result that the bullish view has continued to weaken.

The price has not yet conclusively rolled over, so the bearish view has not yet taken pre-eminence, so for now a neutral outlook prevails.

GBP/USD chartSource: ProRealTime

AUD/USD under renewed pressure

AUD/USD continues to give back the gains made in the second half of August. After a small bounce yesterday the sellers are in charge once again, and it looks like further declines towards $0.72 are likely.

Bulls need a rally back above $0.74 to revive the bullish view.

AUD/USD chartSource: ProRealTime
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EUR/USD heads down while GBP/USD begins to recover and USD/JPY rebounds

It is a day of mixed fortunes across asset markets, although the dollar is stronger in the wake of a recovery in US retail sales. Video.

USD

 Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 17 September 2021 

EUR/USD heads to the downside

After Thursday’s slump here with EUR/USD, the sellers are firmly in control again, and a move back towards $1.166 looks to be on the cards.

The drop below the 50-day simple moving average (SMA) $1.1797 has handed the initiative to the sellers, and now we look for additional losses. A move above $1.18 would be needed to provide more hints of renewed upside for EUR/USD.

EUR/USD chartSource: ProRealTime

GBP/USD holds trendline

While GBP/USD fell back too yesterday following US retail sales, it was able to regain some ground in the latter part of the session.

Buyers will be pleased to see the price has held rising trendline support from the August low, providing hope that a new bounce towards $1.385 can begin.

GBP/USD chartSource: ProRealTime

USD/JPY rebounds after retail sales

Markets can be frustrating places, and sellers will have to relearn this after seeing USD/JPY bounce yesterday following the previous two days of losses that seemed to hand the initiative to the sellers.

The price is edging back above trendline support from the early August low, and with stochastics turning higher once again a new move towards ¥110.35 may develop.

USD/JPY chartSource: ProRealTime
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