EURUSD Overview: EMA200 Moving Average at 1.08000 Level
- Yesterday, EURUSD jumped to a new weekly high at the 1.08885 level.
- Since the beginning of the week, the pair GBPUSD has been in a stable bullish trend.
EURUSD chart analysis
Yesterday, EURUSD jumped to a new weekly high at the 1.08885 level. We stop there, and the pair retreats to the 1.08000 level. During the previous Asian trading session, we saw a sideways consolidation in the 1.08150-10.08350 range. With the beginning of the EU session, you increased the pressure on the euro, and the pair slightly retreated to the lower daily level. If he doesn’t last, we go down to form a new one.
Potential lower targets are 1.08100 and 1.0800 levels. Additional support at the 1.08000 level is the EMA200 moving average. For a bullish option, we need a jump above the 1.08400 level. That would break us away from the previous consolidation. The pair would be relieved of the bearish pressure, and we could expect to see growth and climb higher. Potential higher targets are 1.08500 and 1.08600 levels.
GBPUSD chart analysis
Since the beginning of the week, the pair GBPUSD has been in a stable bullish trend. This week’s low was at the 1.25792 level formed on Tuesday. After that we moved above 1.26200 and with the support of EMA200 we continued with bullish consolidation. On Thursday, the bullish impulse takes us up to 1.27096, and there we form a weekly high. After that, the pair was forced to withdraw and look for new support.
It finds it at the 1.26200 level and from there initiates a new recovery and bullish consolidation that continues today. During the Asian trading session, the pair hovered around 1.26600 levels. In the EU session, market volatility increases and GBPUSD forms a daily high at the 1.26770 level. All indicators suggest that we will see a continuation on the bullish side. Potential higher targets are 1.26800 and 1.27000 levels.
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