EUR/USD faced significant downward pressure, dropping to its weakest level in three weeks below 1.0750 on Friday following a stronger-than-expected Non-Farm Payrolls (NFP) report. However, weekend flows helped the currency pair recover some daily losses. The Relative Strength Index (RSI) on the 4-hour chart is higher but remains below 50, indicating a lack of...
EUR/USD faced significant downward pressure, dropping to its weakest level in three weeks below 1.0750 on Friday after stronger-than-expected Non-Farm Payroll (NFP) data. However, weekend flows helped the pair recover losses, erasing the daily downturn. The Relative Strength Index (RSI) on the 4-hour chart has risen but remains below 50, indicating a lack of...
The US Dollar maintains a modest bid in early European trading, with the USD/JPY pair trading narrowly below the 147.45 resistance level. The downtrend has persisted above 147.00 so far. The USD staged a mild recovery from Monday's lows but faced resistance at 147.45, leading to a measured downward trend on Tuesday. Investor caution ahead of key US employment data...
The EUR/USD pair experienced a modest uptick in early Asian trading on Thursday. However, the upward trend of this currency pair may face limitations due to the recent demand for the US Dollar and weaker-than-expected data from the Eurozone. The major currency pair is trading around the 1.0770 level, marking a 0.08% increase for the day. The EUR/USD exchange rate...
The EUR/USD pair continues to face selling pressure below the psychological level of 1.0800 in the early Asian trading session on Wednesday. Optimistic Eurozone PMI data for November failed to inspire the Euro, given the persistent weakness in demand in the Eurozone region. The EUR/USD exchange rate found support at the 100-day SMA at 1,0775, with this mentioned...
The EUR/USD pair remained range-bound around 1.0850 in early European trading on Tuesday. The recent decline in the US Dollar, coupled with higher yields on US Treasury bonds, is providing support to this currency pair, although broader risk aversion sentiment is limiting its upward momentum. Attention is focused on US employment data and the ISM PMI. The decline...
In the 24-hour perspective, the EUR dropped to 1.0827 last Friday before rebounding and closing relatively unchanged at 1.0881 (-0.05%). As highlighted on Monday, although selling pressure seemed to ease, there was a possibility for the EUR to decline to 1.0810 before a potential sustained recovery. In New York trading, the EUR dipped to 1.0802 before staging a...
EUR/USD is sliding below 1.0950, facing fresh selling pressure as the US Dollar strengthens on Thursday. Weaker-than-expected inflation data from France, Germany, and Spain is weighing on the Euro. All eyes are now on the inflation figures for the Eurozone and the US for new market catalysts. The EUR/USD exchange rate retreats after four consecutive days of gains,...
From a technical perspective, the EUR/USD pair continues to struggle to surpass the 61.8% Fibonacci retracement level of the July to October downturn. Additionally, the Relative Strength Index (RSI) on the daily chart is poised to break out of the overbought zone, urging caution for bullish traders. Therefore, it would be prudent to anticipate a short-term...
The EUR/USD exchange rate is retracing back towards the vicinity of 1.0980 after touching a 15-week high just above 1.1000, supported by an increase in risk appetite across the broader market, causing the US Dollar to depreciate and fall into the red against all major currencies on Tuesday. The daily chart depicts EUR/USD trading around the opening level,...
The EUR/USD pair experiences modest losses in the early Asian trading session on Monday. Increased demand for the U.S. Dollar has pushed the major currency pair lower. The potential upside for the EUR seems limited due to macroeconomic prospects. The pair is trading near the 1.0935 level, down 0.08% on the day. EUR/USD continues to trade in the upper half of the...
Europe The S&P Global Purchasing Managers' Index fell to 47.1 in November, marking the sixth consecutive month below the 50-point expansion threshold, despite exceeding economists' predictions. Both manufacturing and services sectors reflect a similar trend. Germany will suspend constitutional limits on net new borrowing for the fourth consecutive year after...
The EUR/USD exchange rate continues its descent after failing to hold above 1.0950. On Wednesday, the pair encountered resistance at 1.0920 before experiencing another round of price depreciation. Finding support at 1.0850, the potential for further downside exists, targeting the crucial support level at 1.0830. The short-term downtrend line is positioned at...
The EUR/USD pair enters a consolidation phase during Tuesday's Asian trading, hovering just below the key level of 1.0900, marking the highest point since August 14th. The pair has seen consecutive gains, surpassing 1.0900, with the upward trend sustained above crucial daily Simple Moving Averages. However, the Relative Strength Index (RSI) above 70 signals...
The EUR/USD exchange rate has risen for the second consecutive day, surpassing the 1.0900 level. The upward trend remains intact as prices are holding above significant Simple Moving Averages on the daily chart. However, the Relative Strength Index (RSI) above 70 indicates overbought conditions. On the 4-hour chart, overbought conditions persist, but there are...
The euro has exhibited a week-long uptrend, testing the previously established ascending trendline as a significant resistance level. The 1.09 mark stands out as a substantial barrier, and if successfully surpassed, the market may set its sights on the 1.10 level. Beyond that point, there is potential for the market to extend its upward trajectory. On the...
The EUR/USD pair rose to 1.0700 in the early Asian trading session on Tuesday. Lower US Treasury bond yields are exerting pressure on the US Dollar (USD), providing some support for this currency pair. However, concerns about economic downturn in the Eurozone may limit the Euro's upward trajectory. The EUR/USD exchange rate has increased for the second consecutive...
EUR/USD is holding slight gains near the 1.0700 mark in European trading on Monday. The US dollar started the new week on a defensive note, despite higher US bond yields. Traders are awaiting GDP data for the Eurozone and US inflation figures later in the week. The Relative Strength Index (RSI) on the 4-hour chart has dipped below 50, while EUR/USD falls below the...