EURUSD TECHS: Trend Needle Points North
- RES 4: 1.1276 High Jul 18 ‘23
- RES 3: 1.1214 High Sep 25 2024 and a key resistance
- RES 2: 1.1188 0.764 proj of the Feb 28 - Mar 18 - 27 price swing
- RES 1: 1.1144 High Oct 1 2024 / High Apr 3 and the bull trigger
- PRICE: 1.1048 @ 15:35 BST Apr 9
- SUP 1: 1.0882 Low Apr 7
- SUP 2: 1.0844 20-day EMA
- SUP 3: 1.0733 Low Mar 27 and a key short-term support
- SUP 4: 1.0713 50-day EMA and a short-term pivot level
The trend condition in EURUSD is bullish and the latest pullback is considered corrective. Key resistance at 1.0955, Mar 18 high, was breached last week, confirming a resumption of the uptrend and this maintains the price sequence of higher highs and higher lows. Sights are on 1.1188 next, a Fibonacci projection. MA studies are in a bull-mode position highlighting a dominant uptrend. Initial firm support lies at 1.0844, the 20-day EMA.
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SECURITY: US Sec State Rubio Says Direct Talks With Hamas A 'One Off'
Reuters reporting comments from US Secretary of State Marco Rubio speaking on developments in the Middle East. Rubio says that recent direct talks between US Hostage Envoy Adam Boehler and Hamas were a "one off" and will not be repeated as the talks did not "bear fruit." Rubio notes that negotiations have been returned to the remit of US President Donald Trump's Middle East envoy Stephen Wtikoff, who arrived in Qatar today for another round of Gaza ceasefire talks.
- The comments come as negotiators struggle to resolve a standoff between Israel and Hamas on extending the Gaza ceasefire. Hamas wants to see the implementation of Phase 2 of the ceasefire agreement whereas Israel prefers extending Phase 1. Failure to secure agreement of the future of the ceasefire raises the risk of a return to fighting.
- Earlier today, the Jerusalem Post noted that "next stage of war will be shorter, much more intense," as Israel's desire to eliminate Hamas is balanced with the need to recover hostages, according to an Israeli security expert.
- Wtikoff said today ahead of talks in Qatar today: “Hamas needs to disarm, not rearm, lay down their weapons and leave Gaza. I think they have no other alternative but to leave. If they don't leave, everything will be on the table for us.”
- Witkoff added in an interview with Fox News that “there needs to be a deadline” when it comes to negotiations with Hamas on the hostage deal ceasefire.
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