Jump to content

EUR/USD under pressure and USD/JPY recovers, while GBP/USD holds steady


Recommended Posts

A strengthened dollar has lifted USD/JPY again, while putting pressure on EUR/USD. For now, sterling appears to be holding its ground against the dollar.

 

EUR/USD in retreat from recent highs

Two days of losses in EUR/USD and a retreat from the 50-day simple moving average (SMA) $1.1169 point towards a potential lower high and the beginning of a new leg lower for the pair. This would bring $1.08 into view, the low from the beginning of March into play. Stochastics have rolled over too, suggesting this downtrend has further to run.

EUR/USD chartSource: ProRealTime

GBP/USD steady despite losses

GBP/USD price has managed to hold its ground despite coming under some pressure on Friday. As yet further losses have not materialised, although a drop below $1.305 would mark a bearish development. Buyers will want to see a move back above $1.318 to open the way to a potential challenge of the highs from the second half of March, around $1.328.

GBP/USD chartSource: ProRealTime

USD/JPY pushes higher

Friday’s jobs report strengthened the dollar, reversing some of the recent losses. It looks like USD/JPY may push back to the late March highs, despite the apparent overextension of the rally indicated by the yawning gap with the 50-day SMA ¥117.10. Sellers would need to push the price back below ¥121.20 to suggest a nearterm retracement is underway.

USD/JPY chartSource: ProRealTime

Chris Beauchamp | Chief Market Analyst, London
Monday 04 April 2022
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Thanks for the input,  The issue is being resolved.  IG took a position Twice.  Remedy is imminent.
    • Prepare to witness a paradigm shift in Bitcoin Layer 2 solutions with Merlin Chain, an innovative platform that integrates the ZK-rollup network, decentralized oracle, and on-chain BTC anti-fraud module. With seamless compatibility with the Ethereum Virtual Machine (EVM), Merlin Chain sets new standards for security, transparency, and interoperability in the blockchain ecosystem.  Creating a Safe and Transparent Environment: At the core of Merlin Chain's mission lies its commitment to creating a safe and transparent environment for all investors. By integrating anti-fraud security solutions directly into the blockchain, Merlin Chain mitigates the risk of fraudulent activities and ensures the integrity of transactions. With Merlin Chain, users can trust that their assets are protected and transactions are executed with the highest level of security and transparency. Excitement mounts as Merlin Chain (MERL) prepares for listing on Bitget Exchange on April 19th, 2024, at 10:00 (UTC). This milestone event not only amplifies Merlin Chain's visibility but also provides users with a trusted platform to trade and engage with the MERL token. As Merlin Chain continues to push the boundaries of Bitcoin Layer 2 solutions, its listing on Bitget Exchange marks a significant step forward in its journey towards broader recognition and adoption.
    • Rarible is a revolutionary platform for artists and creators in the digital world. It functions as both: Software: Artists can use it to create and sell unique crypto assets representing ownership of their digital work, like illustrations or animations. These are known as Non-Fungible Tokens (NFTs). Marketplace: Buyers can discover and purchase these NFTs directly from creators, eliminating the need for intermediaries.   Built for the Community: It is a community-owned marketplace, powered by its native token, RARI. Owning RARI tokens gives holders a voice in shaping the platform’s future.   Exciting News! Rarible recently listed its token (RARI) on the Bitget exchange, along with a “candybomb” event to reward holders. This is a great opportunity for artists and crypto enthusiasts alike to explore the world of NFTs on Rarible.
×
×
  • Create New...
us