EUR/USD 1.19470
-0.766%
Gold 5388.56
4.053%
Oil 63.336
1.456%
USD/JPY 153.385
0.796%
GBP/USD 1.38034
-0.323%
GBP/JPY 211.729
0.496%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Dow Jones Industrial Average rose 12.19 points, or 0.02%, to close at 49,015.60 on Wednesday, January 28; the S&P 500 fell 0.57 points, or 0.01%, to close at 6,978.03; and the Nasdaq Composite rose 40.35 points, or 0.17%, to close at 23,857.45.Tesla (TSLA.O): We plan to release the third generation of the Optimus in the first quarter of this year.January 29th - U.S. stocks closed Wednesday with the Dow Jones Industrial Average up 0.03%, the S&P 500 slightly down, and the Nasdaq Composite up 0.17%. Intel (INTC.O) rose 11%, Nvidia (NVDA.O) rose over 1%, and Micron Technology (MU.O) rose 6%. The Nasdaq China Golden Dragon Index closed up 0.3%, and Alibaba (BABA.N) rose 1.7%.Nikkei poll: Japans Liberal Democratic Party is expected to win a majority of seats in the election.On January 29th, Chris Grisanti, Chief Market Strategist at MAI Capital Management in New York, stated that the Federal Reserves statement and press conference today were noticeably hawkish. The description of economic activity was upgraded from moderate to solid, while the wording regarding downside risks to employment was removed. At the press conference, Powell stated that after a period of weakness last year, the employment situation has stabilized. Inflation, while trending towards stability, remains slightly high. Overall, the Feds focus has shifted from unemployment to inflation. I dont believe there will be a rate cut in the short term. Furthermore, given the strong market performance and continued economic strength, I dont think there will be a rate cut in 2026, a stance that is more hawkish than current market expectations.

The EUR/USD Price Analysis Is Supported By Rebounds From 1.0840-45

Alina Haynes

Apr 11, 2023 14:37

EUR:USD.png 

 

On Tuesday morning, the EUR/USD reaches a new intraday peak near 1.0880 as bulls attempt to regain control following a two-day downtrend. Consequently, the Euro-U.S. dollar pair recovers after the convergence of the 100-day simple moving average and a two-week-long ascending support line.

 

However, the recovery movements of the major currency pair remain elusive unless the quote remains below the 13-day-old horizontal resistance area surrounding 1.0930.

 

A one-week-old descending trend line near 1.0900 is protecting the EUR/USD pair's near-term upside at press time.

 

In the event that the EUR/USD pair maintains strength above 1.0930, the 1.0975 monthly high may serve as the last line of defense for pair sellers before pushing the price to February's high of 1.1033.

 

Alternately, a breach of the 1.0840-45 support confluence would drive the price to the 1.0788 monthly low without hesitation.

 

Future EUR/USD skeptics may be challenged by the 50% and 61.8% Fibonacci retracement levels of the pair's March-April upswing, respectively near 1.0745 and 1.0690.

 

To restore market confidence, supporters of the EUR/USD must surpass 1.0930. The quote remains on the bears' radar despite the fact that 1.0845-40 limits the near-term decline.


Suggestion