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EUR/USD Aims Fresh Increase While EUR/JPY Eyes More Upsides


EUR/USD is consolidating above the key 1.0880 support zone. EUR/JPY is rising and might rally further if it clears the 145.40 resistance zone.

Important Takeaways for EUR/USD and EUR/JPY

• The Euro started a downside correction from the 1.0970 zone.
• There is a key bearish trend line forming with resistance near 1.0910 on the hourly chart at FXOpen.
• EUR/JPY started a steady increase after it found support near 142.50.
• There is a major bullish trend line forming with support near 144.20 on the hourly chart.

EUR/USD Technical Analysis


On the hourly chart of EUR/USD, the Euro remained well-bid above the 1.0880 zone and started a fresh increase against the US Dollar. EUR/USD was able to break above the 1.0920 resistance level.

The pair tested the 1.0970 zone before it started a correction. There was a break below the 1.0920 level, but the bulls were active near the key 1.0880 support. A low is formed at 1.0876, and the pair is now consolidating.

Immediate resistance is near the 1.0910 level. Besides, there is a key bearish trendline forming with resistance near 1.0910. The trendline is close to the 50% Fib retracement level of the downward move from the 1.0937 swing high to the 1.0876 low.

The next major resistance is near the 76.4% Fib retracement level at 1.0925. A clear move above the 1.0925 level might send the pair toward the 1.0970 level. Any more gains could set the pace for a test of 1.1000.

On the downside, the pair might find support near the 1.0880 level. The next major support sits near the 1.0820 level, below which the pair could even test the 1.0790 support zone.

If there is a downside break below the 1.0790 support, the pair might accelerate lower in the coming days. In the stated case, it could even test 1.0720.

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ForexCup News

Disclaimer: This Publication represents FXOpen Companies News only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.

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ForexCup News

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Trading hours schedule for Late May 2023 Public Holidays


Dear Traders!

Please note that for the late May public holidays, trading hours for some financial markets will be changed as follows (all times are GMT+3):

Thursday, May 25

Indices CFD:

    #HSI: till 22:00.

Friday, May 26

Indices CFD:

    #HSI: trading closed;
    #UK100: till 23:00.

Monday, May 29

Indices CFD:

    #HSI: 04:15 - 11:30;
    #J225, #SPXm, #NDXm, #WS30m: till 20:00.

Commodities:

    XBRUSD: 03:00 - 20:15;
    XAUUSD, XAGUSD: till 21:30;
    XNGUSD, XTIUSD: till 21:15.

Stocks CFD ? trading closed.

Tuesday, May 30

Indices CFD:

    #HSI: starts at 04:15;
    #UK100: starts at 03:00.

All other financial markets will be traded as usual.

Please consider this information as you plan your trading and note that the hours above are subject to change.

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Disclaimer: This publication represents the News of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.