Get started

EURSGD

EURUSD price is moving sidewaysEURUSD: The EUR nowadays did now no longer decline however as a substitute is shifting up close to the 1.0740 resistance region. This is because of the weakening of the USD. Currently, due to the fact DXY is damaged and is possibly to maintain to weaken, nowadays`s model ace can pay interest to NONFARM. It is anticipated that EURUSD will possibly retest across the 1.0683 region and rebound. Consider in short promoting across the cutting-edge fee region and shopping for again across the 1.0680 guide region
Short
by TheLeader_WOLF
"EUR/USD Approaches Sub-1.0900 Levels, Facing Downside Pressure"The EUR/USD pair has experienced a deeper decline, touching its lowest point in 2024 at 1.0861 (as of January 16). It is now approaching a critical level, the 200-day Simple Moving Average (SMA) at 1.0847. If this support is breached, the December 2023 low of 1.0723 (on December 8) may reappear, preceding the weekly low of 1.0495 (on October 13, 2023), followed by the October 2023 low of 1.0448 (on October 3) and the psychological level of 1.0400. Positive prospects for this currency pair are likely to face challenges below the 200-day SMA. The 4-hour chart currently indicates a further downside trend in the very near term. Breaking below 1.0861 would eliminate significant support until the 1.0723 level. The MACD indicator is also trading in negative territory, and this bearish scenario is reinforced by the RSI index hovering around the 28 level, signaling oversold conditions. In the event of occasional upward attempts, immediate resistance is anticipated at the 200-SMA at 1,0925, followed by 1,0998, seemingly strengthened by the proximity of the 100-SMA around 1.0980. Investors and traders will closely monitor these levels for potential shifts in the EUR/USD pair's short-term trajectory.
by AdmamTrade
Euro's Risk Amid CPI SurgeEuro marked its strongest two-month performance in a year, surging 4.4% against the US dollar in November and December 2023. The dollar's weakness largely contributed to this rise, driven by expectations of swift rate cuts from the Federal Reserve, eroding its competitive edge. The European Central Bank (ECB) countered rate-cut pressures. Despite the Fed's market-friendly stance in December, ECB President Christine Lagarde dismissed talks of rate cuts, propelling the euro up by over 1%. Lagarde also anticipated fundamental impacts boosting December inflation and projecting a slower inflation decline in 2024. Forecasts predict Germany's CPI to rise to 3.9% from November's 2.3%. This week's release of regional CPI figures, expected after German data, forecasts inflation reaching 3% in December, marking a three-month high. Yet, market doubts linger regarding the ECB's hawkishness. The market's implied path continues to sway dovishly after December, with expectations of the first 25 basis point cut by April. Traders have factored in six cuts, totaling 150 basis points or a 1.5% rate decrease, and imply a 68% likelihood of a seventh cut. This hints at a perceived tilt toward a dovish policy trajectory.
by Larissa-Trader
EUR/USD Nears 1.1050 Closure for 2023Technical Outlook: The EUR/USD rate lingers around 1.1050, swinging between the 50-hour and 200-hour SMAs as 2023 draws to a close. Post-holiday trading will transition into an extended break after the New Year, with EUR/USD finding technical support from the 200-hour SMA just above 1.1000. Daily candlesticks reflect an overbought scenario as the Euro retreats from Thursday's multi-month high near 1.1150. The 50-day SMA converges toward the 200-day SMA around 1.0850. Technical indicators, including the 14-day RSI, hint at a potential pullback from overbought conditions. The restrained movement of EUR/USD near 1.1050 signals cautious market sentiments, with indicators suggesting a possible retreat despite recent highs. This shift may influence early market trends in the new year. Wishing everyone a Happy New Year !
by Larissa-Trader
"EUR/USD Dips Below 1.1100 Amid Year-End Volatility"EUR/USD faced challenging retracements on Thursday as thin holiday trading stirred volatility around the final trading day of 2023. The Euro (EUR) swiftly climbed to a 21-week high of 1.1140 early on Thursday as broader markets continued to shed the US Dollar (USD) on expectations of a rate cut from the Federal Reserve. However, market over-expectations regarding the Fed's structural pivot played out well before today, and the uptick in the 7-year US Treasury yields triggered a retreat to the safe-haven USD, pushing riskier assets like the Euro back into the red on the last trading day of 2023. Initial US unemployment claims for the week ending December 22 also rose, indicating 218 thousand new claims compared to the previous week's adjusted 206 thousand. Additionally, pending home sales in the US for November fell short of market expectations, holding at 0.0% and missing the market forecast of a 1.0% recovery from October's adjusted -1.5% decline. As the year concludes, the EUR/USD forex pair grapples with market dynamics influenced by shifting expectations, economic data, and ongoing global uncertainties. Traders are closely monitoring these factors as they navigate the currency markets in anticipation of the new year.
by Larissa-Trader
EUR/USD Holds Above 1.1100 Despite Overbought SignalsEUR/USD extended its rise above 1.1100 in the Asian session on Thursday, supported by a weaker US dollar. Despite overbought technical indicators, the pair confirmed the breakthrough above 1.1000. The upward trend remains strong, with potential consolidation between 1.1110 and 1.1080. Key support lies at 1.1050, followed by the 20-period SMA at 1.1030. Corrections may present buying opportunities, with downside risks limited below 1.0980.
by AdmamTrade
EUR/USD Analysis: Post-Christmas InsightsOur technical outlook for EUR/USD remains unchanged as we await shifts in performance, likely to occur with the return of investors and market activity post the holiday season. Currently, examining the daily chart, there's a discernible upward trend in the pair's performance, holding steady around and above the psychological resistance level of 1.1000. If the weakness in the US dollar persists, the currency pair may find opportunities for further recovery. From a technical standpoint, the immediate resistance levels are at 1.1065 and 1.1120. Beyond these levels, technical indicators may start leaning towards overbought conditions. Conversely, within the same timeframe, a retracement to the support level of 1.0880 is crucial for the bearish camp to regain control and disrupt the current upward momentum. Stay tuned for market developments as we navigate the dynamics in the post-holiday trading environment.
by Larissa-Trader
AUD Falls from Yearly Highs Amidst US Core PCE Data ReleaseThe Australian Dollar experienced a notable surge as the US Dollar dipped close to its monthly lows. The Reserve Bank of Australia will assess additional data to shape future monetary policy decisions. Softened data from the US reinforces expectations of the Fed easing monetary policy in early 2024, with Q3 annual GDP and QoQ core PCE dropping by 4.9% and 2.0%, respectively. The Australian Dollar is currently trading below the psychological resistance level at 0.6800, having peaked at 0.6802 on Friday. Widely shared bullish sentiment suggests the potential for the AUD/USD pair to surpass recent highs and target a significant resistance level at 0.6850. On the flip side, key support levels are identified at 0.6750, ahead of the seven-day Exponential Moving Average (EMA) at 0.6740. A breach below this crucial support zone may guide the AUD/USD pair towards the psychological support at 0.6700, followed by the 23.6% Fibonacci retracement level at 0.6679.
by Larissa-Trader
1
Positive Outlook for EUR/USD in the Coming YearThe swifter interest rate cuts in the United States compared to elsewhere signal a more pronounced weakening of the dollar. The U.S. interest rate reductions are also expected to bolster the global economy, commodity and energy prices, as well as risk sentiment. Consequently, risk-sensitive currencies like NOK and SEK are anticipated to perform well in the near future. However, there are numerous uncertainties on the horizon, including underlying government debt issues, the U.S. Presidential election, and geopolitical challenges. Many of these factors could potentially strengthen the USD beyond our initial predictions.
by AdmamTrade
2
EUR/USD Rises Above 1.1000 Amid Dollar Weakness and ECB SupportThe EUR/USD pair shows modest gains, reaching its highest level in four months during the early hours of Asian trading on Friday. The weakened U.S. dollar and the European Central Bank's hawkish stance have bolstered this currency pair. Trading around 1.1008, the main currency pair has increased by 0.05% for the day. The EUR/USD rate is poised to close at its highest daily level since early August on Thursday but still remains below the psychological 1.1000 level. From a technical perspective, breaking above 1.1000 could open the door for further upward movement. However, considering current market conditions, the timing for a breakout may not be ideal for Euro bulls. Technical indicators on the daily chart lean towards an upward bias, indicating a potential breakout. The Euro's prospects will weaken with a daily close below 1.0870. On the 4-hour chart, technical indicators do not align with the daily chart's upward movement. The Relative Strength Index (RSI) is sideways and poised to turn downward, momentum is weak, and the Moving Average Convergence Divergence (MACD) does not provide clear signals. However, the price remains above the 20-period Simple Moving Average (SMA). As long as it stays above 1.0950, the odds favor the 1.1000 breakout. A dip below that level would weaken the Euro in the short term, indicating the next support level at 1.0910. EUR/USD rose on Thursday towards the 1.1000 level, driven by the dollar's recent weakness, despite higher bond yields. Contradictory economic data from the U.S. precedes crucial consumer inflation data scheduled for Friday. U.S. data reveals a decline in the Philly Fed Index, a revised Q3 GDP decrease from 5.2% to 4.9%, and Initial Jobless Claims showing little change from the previous week. On Friday, the preferred inflation measure of the Federal Reserve, the Core Personal Consumption Expenditures (Core PCE) Index, is due, with an expected 0.2% increase for November. Market participants will closely scrutinize U.S. inflation figures, which could impact the U.S. dollar, currently under pressure despite a rebound in U.S. yields. The 10-year Treasury bond yield rose from recent lows to 3.90%. EUR/USD continues to benefit from a weaker U.S. dollar, but the upward momentum seems restricted in thin market conditions.
by Larissa-Trader
2
EUR/USD Hurdles at 1.0800, Eyes on Fed's DecisionIn the Asian trading hours on Wednesday, EUR/USD continues to face resistance below the 1.0800 level. The market adopts a cautious stance, awaiting the U.S. Producer Price Index (PPI) inflation data and key policy announcements from the Federal Reserve later in the day. The EUR/USD pair finds support from the 100-day Simple Moving Average (SMA) and encounters resistance from the 200-day SMA. Despite attempts to breach the 1.0800 level, the pair swiftly retraces. On the daily chart, conflicting technical indicators reflect recent sideways movements, with the 20-day SMA at 1.0870 adjusting downwards. On the 4-hour chart, the Relative Strength Index (RSI) and Momentum indicators are trending higher, and the price remains above the 20-day SMA. However, the Euro appears to be restrained without strong conviction. Short-term risks are on the rise, holding above the 1.0770 level. A sustained rise and stability above 1.0805 would reinforce short-term prospects for a more lucrative scenario, targeting levels above 1.0830.
by Larissa-Trader
EUR/USD Range-Bound around 1.0760 Ahead of US CPI DataThe EUR/USD pair is trading in a narrow range around 1.0760 at the start of the Asian trading session on Tuesday. Traders prefer to stay on the sidelines ahead of key events in the US and the Eurozone. The pair is hovering around 1.0764, unchanged for the day. The EUR/USD exchange rate is trading near the 100-day Simple Moving Average (SMA). On the daily chart, the risk remains tilted to the downside, consistent with technical indicators. The Relative Strength Index (RSI) continues to move south, well below the 30 levels, and momentum is stable below the midline. On the 4-hour chart, the pair also shows a bearish trend, with prices below the 20-period SMA and within a descending channel. The RSI and Momentum indicators are not providing clear signals. If the pair rises above 1.0780, it will break the channel and surpass the 20-period SMA, improving short-term prospects for the Euro, aiming for the resistance zone around 1.0800/1.0805. At that level, the next relevant resistance is at 1,0845. On the downside, the exchange rate is expected to weaken further, with a decline below 1.0740, where the next support level is 1.0715, and below that, the pair may find support around 1.0690. The EUR/USD touched a low of 1.0741 and then rebounded to the 1.0765 area amid limited price action on a quiet Monday. The US Dollar Index recorded a slight increase, supported by higher Treasury yields as investors await important economic reports and central bank meetings. On Tuesday, the ZEW survey is expected to show a decline in economic sentiment indices for the Eurozone and Germany in December. The focus will then shift to the European Central Bank (ECB) meeting on Thursday, with no expected changes in interest rates, and discussions expected to revolve around reinvestment from the Pandemic Emergency Purchase Program (PEPP) and minimum reserve requirements. In the US, the Consumer Price Index (CPI) will be released on Tuesday. CPI is expected to show a monthly inflation increase of 0.1% in November, with the core CPI at 0.3%. Yearly CPI is expected to be at 3.1%, compared to 3.2% recorded in October. These figures are unlikely to change expectations for the Federal Reserve's next decision. The Federal Open Market Committee (FOMC) meeting will begin on Tuesday, and the announcement on Wednesday may cause some surprises. The focus will be on new forecasts. The US Dollar Index has risen but remains below last week's highs, driven by the rise in USD/JPY rates due to higher yields. The market is currently in a consolidation phase, waiting for the next catalyst. Rewrite a fresh article in English based on the available content, ensuring it is not duplicated with any other articles.
by Gwen_Humuna
EUR/USD Rebounds from Multi-Week Lows, Trading Above 1.0750EUR/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 recovery momentum. The pair needs a decisive move above 1.0820 (Simple Moving Average 200-day, Fibonacci retracement level of the latest uptrend) to establish it as support and extend its recovery towards 1.0860 (static level, 50-day SMA) and 1.0900 (Fibonacci retracement level of 23.6%, 100-day SMA). On the flip side, 1.0760 (Fibonacci retracement level of 50%, 200-day SMA) is considered a crucial support level before 1.0700 (psychological level, Fibonacci retracement level of 61.8%). EUR/USD benefited from the broad-based weakness of the US Dollar (USD) on Thursday, registering a daily increase for the first time since November 28. On Friday morning, the pair stabilized just below 1.0800 as market participants were cautious ahead of the US NFP report. Positive changes in risk sentiment made it challenging for the USD to find demand in the latter part of Thursday, pushing EUR/USD higher. The US Non-Farm Payrolls (NFP) report for November is expected to increase by 180,000. A figure above 200,000 could force investors to reassess the timing of potential policy changes by the Federal Reserve (Fed) and boost the USD initially. On the other hand, a disappointing figure below 150,000 could make it difficult for the USD to stay resilient against its counterparts heading into the weekend. Meanwhile, annual wage inflation is expected to decrease to 4% from 4.1% in October, and the unemployment rate is predicted to remain unchanged at 3.9%. The US economic calendar will also feature the preliminary December Consumer Sentiment Survey from the University of Michigan. However, investors may overlook this report while scrutinizing labor market data.
by Gwen_Humuna
EUR/USD Rebounds from Multi-Week Lows, Trading Above 1.0750EUR/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 strong recovery momentum. The pair needs a decisive move above 1.0820 (200-day Simple Moving Average, Fibonacci retracement level of the latest uptrend) to use it as support and extend its recovery towards 1.0860 (static level, 50-period SMA) and 1.0900 (Fibonacci retracement level of 23.6%, 100-period SMA). On the downside, 1.0760 (Fibonacci retracement level of 50%, 200-period SMA) is considered a crucial support level before 1.0700 (psychological level, Fibonacci retracement level of 61.8%). EUR/USD benefited from the broad weakness of the US Dollar (USD) on Thursday, recording a daily gain for the first time since November 28th. On Friday, the pair stabilized just below 1.0800 as market participants hesitated to take significant positions ahead of the US November employment report. Positive changes in risk sentiment made it challenging for the USD to find demand in the latter half of Thursday, pushing EUR/USD higher. The US Non-Farm Payrolls (NFP) report is expected to show an increase of 180,000 jobs in November. A figure above 200,000 could prompt investors to reassess the timing of potential policy changes by the Federal Reserve (Fed) and bolster the USD initially. On the other hand, a disappointing figure below 150,000 could weaken the USD against its counterparts at the end of the week. Meanwhile, annual wage inflation is anticipated to decrease to 4% from October's 4.1%, and the unemployment rate is predicted to remain unchanged at 3.9%. The US economic calendar will also include the preliminary University of Michigan Consumer Sentiment Survey for December. However, investors may overlook this report while focusing on scrutinizing labor market data details.
by Larissa-Trader
USD/JPY Stable Below 147.45 Ahead of US ADP ReportThe 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 has supported the reversal in favor of the Japanese Yen. Speculation is growing that the Fed has completed its interest rate hikes, and the US central bank is anticipated to commence rate cuts in March, weighing on the US Dollar. Conversely, the Bank of Japan is expected to step away from extremely loose monetary policies in the coming months. This, coupled with risk aversion in the market, is offsetting the safe-haven appeal of the Japanese Yen. On the economic calendar, today's foundation-setting events include the US ISM Services and JOLTs Job Openings, laying the groundwork for Wednesday's ADP and Friday's Non-Farm Payrolls – key events of the week. From a technical standpoint, the 4-hour chart illustrates the pair trading within a descending wedge pattern, descending from November's peak. Price action remains below the primary SMA, and the RSI has dipped below the midpoint, signaling a potential continuation of the downtrend. Next support levels are at 146.30 and 146.00, while resistance levels at 147.45 and 148.50, previously mentioned, represent the 38.2% retracement of the November-December decline.
by Larissa-Trader
EUR/USD Sees Modest Uptick Around 1.0770 Ahead of Eurozone GDPThe 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 continues its decline, with the daily chart indicating the potential for further downside. The Relative Strength Index (RSI) is confidently pointing south, and the Momentum has just crossed below the midpoint, two days after the price fell below the 20-day Simple Moving Average (SMA). The pair is testing levels below the 100-day SMA and remains below the 200-day SMA, signaling bearish prospects. On the 4-hour chart, the EUR/USD is still within a downtrend channel and comfortably distant from the lower boundary, suggesting further potential for a price decline. Breaking above the 1.0800 level would alleviate some downward pressure, but the Euro needs to rise above 1.0825 to negate the short-term bearish trend. A clear break below 1,0760 may find support around 1.0735/40, followed by a potential temporary recovery thereafter.
by Larissa-Trader
EUR/USD Extends Decline Below 1.0800 MarkThe 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 level being tested, and a lower daily close would indicate further weakness. Prices are below the 20-day and 200-day SMAs, and daily chart technical indicators continue to signal a downtrend. Below 1,0770, the next significant support level stands at 1,0690 (trendline, 55-day SMA). On the 4-hour chart, the currency pair is moving with a bearish trend. Technical indicators are in oversold territory, suggesting potential consolidation before a possible deeper decline. Strong short-term negative momentum may persist below 1.0850. To reverse the negative selling trend, the Euro must rise and maintain levels above 1.0915. As the EUR/USD pair faces ongoing challenges, market participants are closely monitoring key support levels and technical indicators for potential shifts in sentiment and price dynamics.
by Larissa-Trader
EUR/USD Consolidates Near 1.0850 Amid Mixed Market ConditionsThe 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 EUR/USD found support around 1.0800, slipping below the 20-day Simple Moving Average (SMA) and daily chart indicators indicating a bearish trend. After a more than 200-pip drop from recent highs, some consolidation appears to be in play. On the 4-hour chart, the Relative Strength Index (RSI) has stabilized after touching 30, suggesting consolidation. The MACD indicator continues to show negativity for the Euro, while Momentum is flat. The risk seems balanced, with a drop below 1.0790 opening up opportunities for further losses, while a positive move would require the Euro to reclaim 1.0900 to negate short-term bearishness. The EUR/USD exchange rate fell for the fourth consecutive Monday, dropping below the 20-day Simple Moving Average (SMA). The pair found support around the 1.0800 region. The US Dollar strengthened ahead of crucial US labor market data. The pair continues to decline as the market anticipates that the European Central Bank (ECB) will cut interest rates before the Federal Reserve (Fed) does. The Euro is decreasing after reaching levels above 1,1000 last week. This move seems somewhat exaggerated, and volatility is expected to remain high. On Tuesday, Eurostat will release the Producer Price Index (PPI) for October, along with the final PMI indices. France and Spain will report Industrial Production for October. The US Dollar broadly strengthened on Monday, starting the week under pressure but recovering strongly, supported by higher US Treasury yields ahead of key economic reports. The highlight of the week in the US will be labor market data, starting with the JOLTS report and the ISM Services PMI. Towards the end of the week, the ADP Private Employment, Initial Jobless Claims, and Non-Farm Payrolls reports are expected to provide insights into a more balanced labor market.
by Larissa-Trader
EUR/USD: Bearish Momentum Gathers Strength 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 recovery. This time, the downward pressure has subsided, making it challenging for the EUR to weaken further. Today, the EUR is likely to trade within a broader range, possibly between 1.0800 and 1.0870. Over the next 1-3 weeks, last Friday (December 1, spot rate at 1.0895), we observed a weakening upward momentum and a slight increase in the downward trend. We anticipated the EUR to "drop to 1.0810." As expected, the EUR reached a low of 1.0802 yesterday (December 4). Although the downward momentum has increased, it is not sufficient to indicate a sustained decline. The EUR must break and maintain below 1.0770 before the possibility of an extended downtrend. The likelihood of the EUR clearly breaking below 1.0770 is currently low, but it will persist unless the EUR surpasses the "strong resistance" at 1.0900 (yesterday's high was 1.0965).
by Gwen_Humuna
EUR/USD Slips Below 1.0950 Ahead of EU/US Inflation DataEUR/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, pulling back from a three-month high above 1.1000. Despite the retreat, the overall trend still leans towards an upward trajectory. However, the Relative Strength Index (RSI) currently above 70 and poised to decline suggests potential consolidation ahead. Closing above 1.1010 on the daily chart opens up profit-taking opportunities. On the 4-hour chart, the risk seems tilted towards an upside move. The currency pair found support at the 20-period Simple Moving Average (SMA). A solid break below 1.0960 will indicate further downside, with the next support at 1.0925 near the ascending trendline. On the upside, the 1.1000 level presents a crucial resistance to consider. Beyond the recent high, the next resistance level is at 1.1050. In summary, EUR/USD faces selling pressure amid US Dollar strength, driven by softer inflation data in key Eurozone countries. The overall trend suggests an upward bias, but a potential consolidation phase is indicated by the RSI. Critical levels to watch include 1.0960 on the downside and 1.1000 on the upside.
by Larissa-Trader