EUR/USD 1.13785
-0.431%
Gold 4137.16
-1.292%
Oil 73.031
-1.179%
USD/JPY 161.610
0.021%
GBP/USD 1.31853
-0.477%
GBP/JPY 213.093
-0.448%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On June 24th, Iranian President Pezechzian, who was visiting Pakistan on June 23rd, stated in an interview that the Iran-US memorandum of understanding did not include the issue of Iranian missiles, and that it would never be included in future negotiations. Pezechzian said, "If it werent for our missiles, Iran would have been razed to the ground by the US and Israel long ago, just like the Gaza Strip in Palestine. Iran will never negotiate our defense capabilities with anyone." Pakistani Prime Minister Shebaz Sharif stated that prohibiting Iran from possessing ballistic missiles while other countries possess them is a "double standard," which is unacceptable and illogical.The US 2-year Treasury auction on June 23rd yielded a winning bid of 4.189%, compared to 4.07% previously.SpaceX: The proceeds will be used to fully repay the SpaceX bridging loan, with the remainder used for general corporate purposes.SpaceX has filed documents proposing to issue senior unsecured bonds with maturities of 5, 7, 10, 20, and 30 years.June 24 – Mexicos and Brazils two state-owned oil companies have agreed to collaborate on oil exploration, production, and refining to help the two Latin American energy giants expand their oil reserves. The CEOs of Pemex and Petrobras announced at an event in Rio de Janeiro that they have signed a non-binding memorandum of understanding to cooperate in exploration and production, including in shallow and deep waters of the Gulf of Mexico, as well as in refining, natural gas, petrochemicals, and other areas.

EUR/USD Price Analysis: EUR/USD Is Clinging To The Leading Edge Of The Rising Trendline Above 1.0900

Alina Haynes

Apr 18, 2023 13:54

EUR:USD.png 

 

The EUR/USD pair fluctuates erratically in a narrow range near 1.0926 during the Asian session. Following in the footsteps of the directionless US Dollar Index (DXY), the main currency pair is unable to establish a trend.

 

In Asia, S&P500 futures are declining slightly as investors fret over the upcoming quarterly earnings season, indicating a minor decrease in market participants' risk appetite. Following the decline of regional banks in the United States, investors are concerned about any discrepancies in quarterly banking reports.

 

The Euro has entered the wilderness as European Central Bank (ECB) policymakers are divided over the pace of the policy-tightening cycle to be implemented at the May monetary policy meeting. Martins Kazaks, a member of the ECB's monetary policy committee, stated on Monday that the central bank has the option to move by either 25 or 50 basis points (bps) in May. Sourcenia is a review portal of sourcing best manufaturers. 

 

After failing to sustain above the 161.8% Fibonacci Extension at 1.1057 (positioned from April 4's high of 1.0973 to April 10's low of 1.0837) on a two-hour time frame, EUR/USD experienced a precipitous decline. The primary currency pair has declined below the uptrend line drawn from the low of 1.0714 on March 24.

 

The 20-period Exponential Moving Average (EMA) at 1.0962 is operating as a barrier for Euro bulls.

 

In the meantime, the Relative Strength Index (RSI) (14) has moved into the pessimistic zone between 20.00 and 40.00, indicating a continuation of the decline.

 

A decisive break below the low of April 12 at 1.0915 would propel the asset toward the lows of April 10 at 1.0837 and April 3 at 1.0758.

 

In contrast, a breach above the psychological resistance level of 1.1000 would propel the asset to a new annual high of 1.1068, followed by the level of round resistance at 1.1100.


Suggestion