More fragile American economic activity information enables the EURUSD exchange rate regain some lost ground.

Highlights

The US ADP jobs exceeds predictions at 184K, showing solid job creation.
The ECB’s future monetary policy decisions and European PMI are critical for EURUSD trend.
The FOMC speakers and American economic reports are expected to affect trends for GBPUSD pair.

The Market Snapshot

The latest data have revealed an array of economic factors influencing the EURUSD & GBPUSD pairings. The ADP excluding-Farm Jobs Changes in the United States exceeded estimates at 184K, indicating strong job creation. Conversely, the European Service PMI figures varying, while Italy and Spain outperforming expectations.  While the French figures fell.

DXY Price Analysis

The DXY fell slightly to 104.182 mark, reflecting market uncertainty. The present technical structure has a pivot spot at 104.32 level. With levels of resistance at 104.63, 104.96, then 105.31 area, indicating possible higher hurdles. Supporting has been discovered at 103.77, 103.54, then 103.22 mark, that could buffer bearish moves.

Source: TradingView

The 50 D-EMA of 104.40 with the 200 D- EMA around 103.93 signal a narrow moving zone. A negative breach beneath 104.32 might spark a bearish tendency under 103.77 mark. showing a careful market mentality alongside the prospect of a positive turnaround once it reaches the pivot point.

EURUSD Price Analysis

The EURUSD unit is up slightly, moving at 1.08590 mark, and a pivot level of 1.0847. Suggesting a limited pricing band. The resistance is visible near 1.0883, 1.0907, then 1.0942 mark, posing possible obstacles to bull development.

In contrast, levels of support around 1.0806, 1.0776, & 1.0731 imply locations in which the price may stabilize. The 50 D- EMA near 1.0805 with the 200 D- EMA around 1.0838 mark reflect the delicate equilibrium of market mood.

A negative pattern is expected under 1.0847 mark, although a correction over this mark might signify a change to a bullish trend. Underlining the importance of the above level in determining EURUSD pair orientation.

GBPUSD Price Analysis

The GBPUSD duo is trading up around 1.26563, with a pivot point at 1.26610 indicating trend direction. Resistance levels have been detected at 1.27256, 1.27634, and 1.28024, which will challenge any upward momentum.

On the downside, support has been formed at 1.26535, 1.25828, then 1.25418 point. Showing probable places for price equilibrium. The 50 & 200 D- EMAs of 1.26231 & 1.26652, each, imply that prices are at a turning point.

A pattern under 1.26610 mark shows weakness, but a pattern above this mark might signal an optimistic position. Signaling a significant crossroads for GBPUSD’s upcoming moves.

5- Hourly Technical Indicators & Signals

EURUSD

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