EUR/USD eases from tops near 1.2390, US CPI, Draghi eyed

The pair has faded the earlier spike to tops in the 1.2390 region.
The greenback remains offered albeit off daily lows around 89.50.
ECB’s Draghi due to speak next. US CPI, FOMC minutes expected later.

Pablo Piovano FXStreet

After briefly testing 2-week tops in the boundaries of 1.2390, EUR/USD has now retraced part of that advance and returns to the 1.2370/65 band.

EUR/USD focused on Draghi, US CPI

Spot is looking to extend the ongoing strong recovery from the 1.2200 neighbourhood, although gains appear so far limited to the area just below the critical 1.2400 the figure.

Sustaining the pair’s up move, the greenback remains on the defensive for yet another day and trades in multi-day lows around 89.50/40 when tracked by the US Dollar Index (DXY).

Later in the session, ECB’s Mario Draghi is due to speak followed by a Q&A session, while CPI figures and the FOMC minutes will be in centre stage in the US calendar.

EUR/USD levels to watch

At the moment, the pair is gaining 0.09% at 1.2366 and a break above 1.2388 (high Apr.11) would pave the way for a test of 1.2478 (high Mar.27) and finally 1.2538 (high Jan.25). On the downside, immediate contention emerges at 1.2321 (21-day sma) seconded by 1.2305 (10-day sma) and finally 1.2214 (low Apr.6).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD eyes nine-day EMA barrier after rebounding from 1.1600

EUR/USD gains ground after registering modest losses in the previous session, trading around 1.1620 during the Asian hours on Friday. The technical analysis of the daily chart suggests an ongoing bearish bias as the pair remains within the descending channel pattern.

GBP/USD drifts lower heading into NFP range

GBP/USD edged lower by 0.2% on Thursday, settling close to 1.3350 in a strained trading session that kept the pair pinned near three-month lows. Price briefly recovered earlier in the day on reports that Iran had indirectly signaled openness to talks with the CIA, but the bounce faded as Israeli officials reportedly advised Washington to disregard the overture.

Gold awaits US Nonfarm Payrolls for a clear directional impetus

Gold rebounds above $5,100 early Friday after testing the $5,050 level amid global sell-off. The US Dollar pulls back as profit-taking creeps in ahead of US labor data. For February. 21-day SMA holds amid bullish RSI; a daily closing above 61.8% Fibo is critical for Gold buyers.

Ethereum pull in $169M as validators pile in to stake ETH

US spot Ethereum exchange-traded funds recorded $169 million in net inflows on Wednesday, marking the largest daily intake in two months, according to SoSoValue data. The rise in inflows signals renewed institutional interest in Ethereum amid broader market volatility.

The market compass is pointing at a barrel of Oil

The Asian open is arriving with equities leaning the wrong way, and the reason is not complicated. The market’s compass needle has snapped firmly toward crude. In this tape, oil is not just another input price; it is the gravitational center around which every asset class is orbiting.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.