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EURUSD Daily – Late Friday view
EUR tested resistance at 1.12800 – even reached 1.12930 , but as I am always reminding you – did not close even one hour above 1.12800
So that uptick ended down about 40 pips.
We’ll see how EURUSD will really close tonight and I’ll be evaluating it over the weekend, but in this moment I can only say : Bearish Monday….
1.12450 Pivotal on Hourly and smaller time frames.
US500 HOUR CHART – What is AT showing?
Some disappointment that the 5700 break did not hold.
Range widened to 5575-5720 with moves this week outside of 5600-6700 lacking follow through.
Risk of a gap open next week depending on any headlines coming fro the US-China talks although there are just a preliminary discussion to break the ice.
Bitcoin, XRP Soar. Here’s the Risk to the Crypto Rally
Bitcoin continued to rally Friday, but it was the smaller cryptocurrencies Ether and XRP that were seeing the biggest gains to end a week that has reignited investors’ risk appetite for digital assets.
Bitcoin was up 3.6% to $102,945 over the last 24 hours, according to CoinDesk data. The world’s largest cryptocurrency crossed $100,000 for the first time since early February on Thursday afternoon and briefly passed the $104,000 mark overnight.
Altcoin Ether led the gains among the big cryptos, soaring 16% to $2,307. XRP and Solana rose 5.6% and 7.4%, respectively. All cryptocurrencies are fairly volatile assets, but altcoins often experience more extreme moves in either direction.
Trade developments between the Trump administration and trading partners played a big role in crypto’s recent surge. On Thursday, the U.S. and the U.K. announced a trade agreement — the first since Trump declared sweeping global tariffs on April 2, or “Liberation Day.”
Trump suggested tariffs on China could be lowered to 80%, down from 145% currently.
The crypto market sentiment index reached 73, which is only a couple of steps away from extreme greed and is the highest since late January
If more significant trade agreements don’t materialize before the 90-day pause on the bulk of Trump’s “reciprocal” tariffs expire in July, most economists agree that will push inflation higher. That would prompt the Federal Reserve to keep interest rates higher for longer, with higher borrowing costs hampering investors’ appetite for riskier assets like cryptocurrencies.
A quick summary of foreign exchange activity heading into Friday:
EURUSD rose to 1.1251 from 1.1227 at the Thursday US close but below a level of 1.1299 at the same time Thursday morning. There are no Eurozone data on Friday’s schedule, but European Central Bank policy board member Isabel Schnabel is due to speak at 7:45 pm ET. The next European Central Bank meeting is scheduled for June 4-5.
GBPUSD rose to 1.3280 from 1.3246 at the Thursday US close but was below a level of 1.3323 at the same time Thursday morning. There are no UK data on Friday, but Bank of England Governor Andrew Bailey said earlier in the day the BoE’s commitment to reducing inflation is “unwavering,” but said businesses and consumers are facing uncertainty. The Bank of England lowered its target rate by 25 basis points at its meeting Thursday. The next Bank of England meeting is scheduled for June 19.
USDJPY fell to 145.1815 from 145.8886 at the Thursday US close but was above a level of 144.7519 at the same time Thursday morning. The Japanese leading index fell in March according to data released overnight. The next Bank of Japan meeting is scheduled for June 16-17.
USDCAD fell slightly to 1.3916 from 1.3919 at the Thursday US close but was above a level of 1.3888 at the same time Thursday morning. Canadian employment data for April are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for June 4.
USDCAD chart
If I was in China’s shoes I would hold out the carrot of doing something on fentanyl to be a bargaining chip of negotiatioms.
This just woke the news algos up … not the best way to start negotiations bit as usual with Pres Trump, actions speak louder than a steady stream of words.
Ethereum’s (ETH) Price Explosion, Ripple’s (XRP) Next Targets
Key points:
· ETH surged by 23% in 24 hours to over $2,400, sparking bullish predictions of $4K to even $25K.
· XRP jumped 9% daily to $2.40 amid optimism from the settlement between Ripple and the SEC, with analysts eyeing a potential breakout past $2.80 toward new all-time highs.
· PEPE skyrocketed by more than 50% weekly, hitting its highest price since January, boosted by whale accumulation and a revitalized crypto market.
ETH’s Impressive Comeback
The second-largest cryptocurrency, which has been among the biggest disappointments this cycle, finally managed to reverse the negative trend. In the past several days, Ethereum’s price has been going through the roof, and currently, it is worth over $2,400 (per CoinGecko’s data). This represents a whopping 23% increase in just 24 hours and the asset’s best daily performance since 2021.
“In a world where Bitcoin is heading to $500K+, $25K+ ETH almost sounds too bearish.”What’s Next for XRP?
Ripple’s native token is also well in the green on a daily scale, albeit charting less substantial gains than ETH. As of this writing, it trades at roughly $2.40, a 9% increase for that timeframe.
Its resurgence could be attributed to the booming crypto market as well as the recent developments in the Ripple v. SEC lawsuit. Just recently, the two entities agreed to a $50 million settlement, potentially ending the years-long legal battle that began in 2020 over alleged unregistered XRP sales.
EURUSD Daily
While some are looking for a “floor” , I would rather be looking for a “ceiling”
And in my view it is today at 1.12800
Supports are at 1.11950 & 1.11750
Right now EURUSD will test resistance.
1.12700 is in front of it.
Depending on today’s outcome we are looking at two possible scenarios:
– Break below 1.11950 targets 1.09850
– Return above 1.12800 signals another attempt at highs
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