The EUR/USD pair’s gains remain limited, with uncertainty prevailing ahead of the U.S. presidential election and critical economic data from the U.S. A potential Trump victory is seen as a possible dollar-strengthening factor, with the market currently pricing in a 60% probability for a Republican win, which could ease downward pressure on the EUR/USD in […]
Daily Technical Analysis EUR/USD: Below 1.0800 as Fed Tightening Looms
The EUR/USD remains steady at 1.0790 after posting losses in the previous session. However, the pair could be impacted by a stronger dollar, as recent positive U.S. economic data has bolstered expectations for a less dovish Fed approach in November. On Friday, the Michigan Consumer Sentiment Index rose to 70.5 in October, up from 68.9 […]
Daily Technical Analysis EUR/USD: Pair Nears 16-Week Low, Stays Negative
EUR/USD extended its downward movement on Tuesday, retreating about 0.16% and testing a key technical barrier that could lead to fresh 16-week lows if the price breaks below this support level. European Central Bank President Christine Lagarde made several appearances on Tuesday, but her remarks, which were fairly generic, did little to support the euro. […]
Daily Technical Analysis EUR/USD: Approaching 1.0850, Potential Drop Amid Shifting Political Forecasts
The EUR/USD may face challenges due to shifts in market estimates regarding monetary policy and interest rate outlooks. Currently, the U.S. dollar has gained ground as the likelihood of a rate cut by the hawkish Federal Reserve in November diminishes. Meanwhile, the European Central Bank is expected to intensify its monetary policy easing to boost […]
Daily Technical Analysis EUR/USD: The Pair Extends Decline Ahead of ECB Rate Decision
The EUR/USD pair continued its bearish trend on Tuesday, dropping about one-fifth of a percent and sliding below the 200-day Exponential Moving Average (EMA). The price closed below the 1.0900 level for the first time since early August. The pair is now down nearly 3% from its late September highs, which were just above the […]
Outlook for the Week of October 14-18
Key points to watch out for: Is the ECB Rate Cut a Reality? After the RBNZ cut interest rates by 50 basis points last Wednesday, attention shifted to the ECB. Although Chair Lagarde and her colleagues initially did not support a rate cut for October, their stance began to shift following disappointing PMI data and […]
Daily Technical Analysis EUR/USD: Indecision Dominates Trading
The EUR/USD pair held steady on Tuesday, unable to regain the 1.1000 level but pausing the recent Fibonacci retracement from the 1.1200 area. The euro, which had seen losses after hitting a one-year high in late September, is again falling toward the 1.0950 zone, as the dollar strengthened across the board. European data has been […]
Daily Technical Analysis EUR/USD: Near Its Lowest Level Since Mid-August and Fragile at 1.0975
EUR/USD starts the week with subdued sentiment after last week’s sharp losses, bringing the pair to its lowest level since mid-August following positive U.S. jobs data on Friday. Spot prices are hovering near 1.0975 and appear vulnerable to continuing the sharp pullback from the 14-month highs around 1.1200. The U.S. dollar is strengthening at a […]
Daily technical analysis EUR/USD: bounces back to 1.1050 after Tuesday’s decline
EUR/USD fell nearly six-tenths on Tuesday, finding a slight bounce from the 1.1050 level, as geopolitical tensions and sour economic data unnerved flows regarding risk appetite, serving to bolster the dollar and dragging Fibs to their lowest prices on record in nearly a month. Inflation in Europe as measured by the Harmonized Index of Consumer […]
Daily Technical Analysis EUR/USD: Pair Rises Above 1.1150 Amid Fed Rate Cut Bets
The EUR/USD started the week with an upward trend, trading around 1.1170. This rise was driven by the weakening U.S. dollar, due to growing expectations that the Federal Reserve will continue its easing policy in November, with the possibility of another aggressive interest rate cut. On Friday, the U.S. core personal consumption expenditure (PCE) price […]