The EUR/USD trades slightly positive having advance up to 1.3668 intraday, but struggling for the most around the 1.3650 critical area. With no fundamental data released so far in Europe, the pair is being affected by ECB talks, with Governing Council Nowotny saying inflation in the EU will likely stay significantly below 2% for the this year and upcoming 2015.
Technically, the timid advance is not enough according to the 4 hours chart, where indicators remain weak around their midlines, as price hovers right above a still bearish 20 SMA: price needs at least to establish itself above the 1.3680 Fibonacci level, 61.8% retracement of this year bullish run, to be able to continue advancing, eyeing then 1.3730/45 price zone. In the meantime, risk remains to the downside, with a break below 1.3610 pointing for a quick run towards 1.3570 first, and looking for lower lows later near the 1.3520 price zone.
View Live Chart for EUR/USD
Technically, the timid advance is not enough according to the 4 hours chart, where indicators remain weak around their midlines, as price hovers right above a still bearish 20 SMA: price needs at least to establish itself above the 1.3680 Fibonacci level, 61.8% retracement of this year bullish run, to be able to continue advancing, eyeing then 1.3730/45 price zone. In the meantime, risk remains to the downside, with a break below 1.3610 pointing for a quick run towards 1.3570 first, and looking for lower lows later near the 1.3520 price zone.
View Live Chart for EUR/USD
Recommended Content
Editors’ Picks
AUD/USD holds steadily as traders anticipate Australian Retail Sales, Fed’s decision
The Aussie Dollar registered solid gains against the US Dollar on Monday, edged up by 0.55% on an improvement in risk appetite, while the Greenback was crushed by Japanese authorities' intervention. As Tuesday’s Asian session begins, the AUD/USD trades at 0.6564.
EUR/USD finds support near 1.0720 after slow grind on Monday
EUR/USD jostled on Monday, settling near 1.0720 after churning in a tight but lopsided range as markets settled in for the wait US Fed outing. Investors broadly expect US rates to hold steady this week, but traders will look for an uptick in Fed guidance for when rate cuts could be coming.
Gold prices soften as traders gear up for Fed monetary policy decision
Gold price snaps two days of gains, yet it remains within familiar levels, with traders bracing for the US Fed's monetary policy decision on May 1. The XAU/USD retreats below the daily open and trades at $2,334, down 0.11%, courtesy of an improvement in risk appetite.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Relief wave on altcoins likely as BTC shows a $5,000 range
Bitcoin price has recorded lower highs over the past seven days, with a similar outlook witnessed among altcoins. Meanwhile, while altcoins display a rather disturbing outlook amid a broader market bleed, there could be some relief soon as fundamentals show.
Gearing up for a busy week: It typically doesn’t get any bigger than this
Attention this week is fixated on the Federal Reserve's policy announcement scheduled for Wednesday. While the US central bank is widely expected to remain on hold, traders will be eager to discern any signals from the Fed regarding the possibility of future interest-rate cuts.