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10 Sep 2020

EUR/GBP Price Analysis: Justifies weekly Doji with biggest gains in four months, 0.9175 on bulls’ radar

  • EUR/GBP trades in a choppy range below 0.9100 even after Wednesday’s pullback from six-week top.
  • Weekly candlestick suggested bullish reversal, July high in focus.
  • 200-week SMA, 50% Fibonacci retracement will be the key support.

Despite trading in a seven-pip range below 0.9103, currently around 0.9096, EUR/GBP prints 0.20% intraday gains while heading into Thursday’s European open.

The Euro cross takes bullish clues from the previous week’s Doji candlestick above 200-week SMA. Though, a downward sloping trend line from July restricts the pair’s immediate upside around 0.9100.

If buyers chose to ignore bearish MACD, July month’s top of 0.9175 can lure them before aiming to refresh the yearly peak surrounding 0.9500.

Meanwhile, the pair’s pullback can avail 0.9000 and 0.8970 as nearby rest-points prior to highlighting the 50% Fibonacci retracement of February-March run-up around 0.8895.

Even if the pair drops below 0.8895, 200-week SMA, at 0.8790, can offer a chance to its bounce, which if overruled will direct the bears towards a 61.8% Fibonacci retracement level of 0.8748 and May month’s low near 0.8671.

EUR/GBP Weekly chart

Trend: Further upside expected

 

Sep 10, 2020

OPEC+ compliance rises to 103% in August – Energy Intelligence

According to Energy Intelligence assessments, compliance among the 19 countries participating in the OPEC+ oil production cuts rose to 103% in August.
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Sep 10, 2020

FX option expiries for Sept 10 NY cut

FX option expiries for Sept 10 NY cut at 10:00 Eastern Time, via DTCC, can be found below. - EUR/USD: EUR amounts 1.1700 587m 1.1780 1.0bn 1.1790 517
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