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On May 2nd, Ukrainian President Volodymyr Zelenskyy announced on social media on May 1st that reforms to the Ukrainian military will begin in June, focusing on a significant increase in the salaries of frontline combat personnel, particularly infantry. Furthermore, starting this year, the Ukrainian military may implement phased retirements. Zelenskyy stated that the military command and government departments had previously reached an agreement on key areas of the military reforms, and details will be finalized over the next month. He said the reforms will significantly increase financial support for the military, with substantial increases in the salaries of commanders, officers, and non-commissioned officers, with combat personnel receiving salaries several times higher than those in rear-area positions. Zelenskyy demanded that service terms be clearly defined in conscription contracts, and if possible, starting this year, military personnel will be retired in phases according to clearly defined time standards.The Iranian Foreign Ministry stated that the Iranian armed forces remain on high alert and are ready to fully and decisively defend the Iranian people from any threats and evil forces. Foreign ministers from various regional countries also reiterated their governments support for the peaceful resolution of wars and disputes through diplomatic channels and expressed their willingness to provide assistance in any form.Iranian Foreign Ministry: Iranian Foreign Minister Araqchi briefed the other party on Irans latest position and initiatives to end the war imposed on Iran by the United States and Israel and to achieve regional peace.Iranian Foreign Ministry: Iranian Foreign Minister Araqchi held separate telephone conversations with the foreign ministers of Turkey, Qatar, Saudi Arabia, Egypt, Iraq, and Azerbaijan to discuss and exchange views on regional developments.On May 1st, Trump announced that he was pleased to announce that, given the EUs failure to comply with the trade agreements they had reached, he would be raising tariffs next week on EU cars and trucks entering the United States. The tariffs would increase to 25%. He stated that everyone understands and agrees that cars and trucks manufactured in U.S. factories are exempt from tariffs. Currently, numerous car and truck manufacturing plants are under construction, with investments exceeding $100 billion—the highest in the history of the automotive and truck manufacturing industry. These factories, staffed by American workers, are about to open—what is happening in America today is unprecedented!

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.


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