Connect with us

Hi, what are you looking for?

Economy

The Euro Index rises, while the Yen slips today

The Euro Index rises above 1054.0, while the Yen slips today

During this morning’s Asian session, the Euro index initiated a strong bullish consolidation. 
The yen index continues to slide under bearish pressure on Thursday. 

Euro index chart analysis

During this morning’s Asian session, the Euro index initiated a strong bullish consolidation. We started from 1052.5 and went to 1054.8. If there is no indication of a change in the trend, we may continue to a new weekly high, a promising prospect that would bring us closer to the highest levels since May. Potential higher targets are the 1055.0 and 1056.0 levels.

For a bearish option, we need a negative consolidation and a drop below the crucial 1054.0 level to begin with. This level is a key indicator for a potential shift in the market. With that step, we would begin the retreat. After that, the critical level is the daily open price at the 1052.7 level. Going below that line would wipe out today’s entire gain and move to the negative side. Potential lower targets are 1052.0 and 1051.0 levels.

 

Yen index chart analysis

The yen index continues to slide under bearish pressure on Thursday. During this morning’s Asian session, we saw a drop to a new weekly low at the 687.8 level. After that, the index tried to start a recovery, but it has resistance at the 689.0 level. Again, we are under pressure to see a new pullback and form a new lower low.

Potential lower targets are 687.0 and 686.0 levels. The yen index needs to stabilize above the 689.0 level for a bullish option. After that, we can expect to see the initiation of a positive consolidation above 690.0 and the EMA 50 moving average. With its support, the index will be better positioned to continue its recovery. Potential higher targets are 691.0 and 692.0 levels. The EMA 200 moving average is in the zone around 693.0.

 

The post The Euro Index rises, while the Yen slips today appeared first on FinanceBrokerage.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Latest iteration of the Communications Service Provider (CSP) IoT Peer Benchmarking report from the world’s leading IoT analyst firm identifies the key trends shaping...

    Latest News

    Few congressional Democrats could muster a defense of President Joe Biden’s halting debate performance Thursday, opting instead to criticize former President Donald Trump for...

    Stock

    A bitcoin exchange that collapsed 10 years ago after being hacked is set to return billions of dollars’ worth of the token to users — and...

    Stock

    An important economic measure for the Federal Reserve showed Friday that inflation during May slowed to its lowest annual rate in more than three...

    Disclaimer: Financetimereport.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 Financetimereport.com