• 火. 11月 30th, 2021

    TRADEVIEW MARKET-INSIDER

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    Daily Asia-London Sessions Watchlist: EUR/GBP

    ByTRADEVIEW FOREX

    7月 11, 2021


    EUR/GBP is hitting a strong area of interest once again, but can sellers continue to hold after economic updates from both the Euro area and the U.K.?

    Before moving on, ICYMI, today’s Daily U.S. Session Watchlist looked at a bullish setup on USD/CHF, so be sure to check that out to see if there is still a potential play!

    Intermarket Update:

    Equity MarketsBond YieldsCommodities & Crypto
    DAX: 15554.18 -0.34%
    FTSE: 7072.97 -0.88%
    S&P 500: 4290.61 +0.23%
    NASDAQ: 14500.51 +0.98%
    US 10-YR: 1.478% -0.058
    Bund 10-YR: -0.187% -0.001
    UK 10-YR: 0.731% +0.007
    JPN 10-YR: 0.065% +0.017
    Oil: 72.85 -1.62%
    Gold: 1,779.10 +0.073%
    Bitcoin: $34,334.14 +4.50%
    Ethereum: $2,105.55 +15.42%

    Fresh Market Headlines & Economic Data:

    S&P 500, Nasdaq rise to record highs to start the week led by Facebook

    U.S. warplanes strike Iran-backed militia in Iraq, Syria

    10-year Treasury yield eases slightly, falling below 1.5% to start the week

    Fed’s Rosengren Says 2022 Rate Hike in Play as Job Market Heals

    McConnell demands infrastructure de-linked from fast-track bill

    Dallas Fed Manufacturing Index rose 14 points in June to 29.4

    Emergency ECB stimulus could end next March: Holzmann

    ECB hawks and doves spar as tapering debate fires up

    ECB should retain flexibility of emergency stimulus scheme – Panetta

    Upcoming Potential Catalysts on the Economic Calendar

    Japan Unemployment Rate at 11:30 pm GMT
    Japan Retail Sales at 11:50 pm GMT
    France Unemployment Rate at 5:30 am GMT (June 29)
    U.K. Housing Prices at 6:00 am GMT (June 29)
    France Consumer Confidence at 6:45 am GMT (June 29)
    Spain Retail Sales, Inflation Rate at 7:00 am GMT (June 29)
    U.K. Mortgage Approvals, M4 Money Supply at 8:30 am GMT (June 29)
    Euro Area Consumer Confidence at 9:00 am GMT (June 29)
    Germany Inflation Rate at 12:00 am am GMT (June 29)

    What to Watch: EUR/GBP

    EUR/GBP 1-Hour Forex Chart
    EUR/GBP 1-Hour Forex Chart

    On the one-hour chart above of EUR/GBP, we can see that the pair continues to ride a very strong area of interest around the 0.8600 handle.

    It’s been mainly acting as a resistance area, and may do so again this week, that’s if the upcoming economic updates from both the U.K. and the Euro area favor the bears in the short-term.

    Is EUR stronger than GBP? Check out our newly released Currency Strength Meter!

    In the upcoming London session, we’ve got mid-tier updates from Europe, and while they’re not likely to move the markets on their own, any kind of consensus may momentarily bring enough volatility for potential short-term pip gains.

    Given the strong resistance 0.8600 has been and the bearish lean on the pair over the past two months, we’ll be on the lookout for bearish reversal patterns for a potential short position if the U.K. posts positive updates vs. a negative lean from Euro area updates.

    With an ATR of around 45 pips per day, this could be an opportunity to catch 20 to 30 pips if volatility picks up, or setup for a swing short position to retarget the strong support area around 0.8550.



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