empty
06.05.2022 04:50 PM
EUR/USD Analysis on 6th May

This image is no longer relevant

EUR/USD has lost its traction after having tested 1.0600 earlier in the day but managed to stay in positive territory above 1.0550. The data from the US confirmed that labor market conditions remain extremely tight in April with NFP rising more than 400K despite a decline in the participation rate.

The pair is trading near the static resistance of 1.0560, which is reinforced by the 50-period SMA on the four-hour chart, and a four-hour close above that level could open the door for a rebound toward 1.0600 (psychological level, Fibonacci 23.6% retracement level of the latest downtrend). Finally, 1.0660 (Fibonacci 38.2% retracement) forms the next significant resistance.

On the downside, 1.0540 (20-period SMA) aligns as interim support ahead of 1.0500 (psychological level and 1.0470 (multi-year low set on April April 26).

Jan Novotny,
Analytical expert of InstaTrade
© 2007-2025

Recommended Stories

EUR/USD Forecast for July 15, 2025

On the daily chart, the price has consolidated below the 1.1692 level. The Marlin oscillator is currently entering the territory of a downward trend. The target at 1.1535

Laurie Bailey 05:12 2025-07-15 UTC+2

GBP/USD Forecast for July 15, 2025

By the end of Monday, the British pound consolidated below the balance indicator line, having approached the target support level at 1.3369 by 65 points. The signal line

Laurie Bailey 05:12 2025-07-15 UTC+2

USD/JPY Forecast for July 15, 2025

Following a rebound from the support level at 146.11, the USD/JPY pair has reached the upper line of the wedge pattern on the daily chart and is now targeting

Laurie Bailey 05:12 2025-07-15 UTC+2

USD/JPY. Analysis and Forecast

The USD/JPY pair remains in a consolidation phase near a three-week high, supported by U.S. dollar strength and mixed market signals. The dollar is being bolstered by U.S. President Donald

Irina Yanina 12:17 2025-07-14 UTC+2

Technical Analysis for the Week of July 14–19: GBP/USD Currency Pair

Last week, the pair moved downward and broke below the 8-period EMA at 1.3509 (thin blue line), closing the weekly candle at 1.3487. In the upcoming week, the price

Stefan Doll 11:40 2025-07-14 UTC+2

Technical Analysis for the Week of July 14–19: EUR/USD Currency Pair

Last week, the pair moved downward and nearly tested the 23.6% retracement level at 1.1647 (blue dashed line), after which the price turned upward and closed the weekly candle

Stefan Doll 11:34 2025-07-14 UTC+2

Forecast for EUR/USD on July 14, 2025

On Friday, the EUR/USD pair rebounded from the 127.2% Fibonacci retracement level at 1.1712, reversed in favor of the U.S. dollar, and resumed its decline toward the 1.1645 level

Samir Klishi 11:31 2025-07-14 UTC+2

Forecast for GBP/USD on July 14, 2025

On the hourly chart, the GBP/USD pair on Friday consolidated below the 127.2% Fibonacci level at 1.3527 and continued its decline toward the next retracement level of 100.0% at 1.3444

Samir Klishi 11:25 2025-07-14 UTC+2

Cable still has the potential to continue its decline to its support level on Monday, July 14, 2025.

GBP/USD – Monday, July 14, 2025 GBP/USD is moving in a weakening condition where this is confirmed by its price movement below the 50-EMA, which is also below the 200-EMA

Arief Makmur 07:21 2025-07-14 UTC+2

The USD/CAD commodity currency pair has the potential to correct towards its pivot point today, Monday, July 14, 2025.

USD/CAD, July 14, 2025 Although the Lonnie is moving in a neutral-bullish position, there is potential for the USD/CAD commodity currency pair to test its pivot and support levels today

Arief Makmur 07:21 2025-07-14 UTC+2
Can't speak right now?
Ask your question in the chat.
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.

We are sorry for any inconvenience caused by this message.