FxNews.me — Technical Analysis

[FxNews]

EUR/USD Faces Key Resistance at 1.115​

FxNews—The EUR/USD currency pair is testing the 1.115 resistance level, in conjunction with the descending trendline. Meanwhile, the Stochastic, RSI (14), and the Awesome Oscillator are declining, suggesting that the bear market is gaining momentum.

However, the price is above the 100-period simple moving average, which is a robust signal for the bull market.
​

Overall, the technical indicators suggest the primary trend is bullish, but the EUR/USD price could consolidate before the uptrend resumes.​

Forecast​

The immediate resistance level is at $1.115. The uptrend will likely resume if the bulls close and stabilize the price above $1.115. If this scenario unfolds, the next bullish target will be $1.12.
​

Bearish Scenario​

The immediate support lies at $1.109. If the EUR/USD price dips below $1.109, it could extend to $1.10. Please note, a move above $1.115 will invalidate the bearish strategy.​

 

[FxNews]

XRP Faces Bearish Threat Despite Bullish Momentum​

FxNews—Ripple (XRP) trades in a bullish channel, but the 4-hour chart has formed a bearish butterfly pattern, which is a sell signal. The MACD value is declining, and the indicator is about to flip below the signal line, meaning the bear market is strengthening.

Additionally, we notice that the recent candle is bearish and closed below the 100-period regression line, meaning the bear market could potentially resume.
​

Overall, the technical indicators suggest that despite the bullish momentum, XRP/USD could dip to lower support levels.​

Forecast​

The immediate resistance is at $0.563. The XRP/USD downtrend will likely be triggered if the price closes and stabilizes below $0.563. If this scenario unfolds, the downtrend could extend to the lower band of the bullish channel.
​

Bullish Scenario​

If bulls (buyers) maintain their position above the $0.563 mark, and if they can close beyond the 100-period regression line, the uptrend will likely be triggered. In this scenario, the next bullish target could be retesting $0.597, followed by $0.612.

​