The EUR/USD refuses to extend its slide holding around 1.3400 for most of the past couple of sessions, and despite EU inflation ticked down to 0.4% yearly basis, from 0.5% previous. Nevertheless, the pair maintains a negative bias, with the 4 hours chart showing price well below a bearish 20 SMA and indicators turning south below their midlines, with RSI having corrected oversold readings.
Across the board, dollar maintains a strong upward potential, with high yielders being the most affected, as stocks trade in red in Europe, while US futures point for a negative open. Yesterday’s low of 1.3367 is the level to take to confirm further slides, looking then for a quick move towards 1.3330/40 price zone. Once below this last, 1.3295, past November 2013 comes next.
The pair seems well limited to the upside by 1.3400, but some steady gains above it can see the pair up to 1.3440. Further rallies however are unlikely, considering US employment figures will be released early Friday.
View Live Chart for EUR/USD
Across the board, dollar maintains a strong upward potential, with high yielders being the most affected, as stocks trade in red in Europe, while US futures point for a negative open. Yesterday’s low of 1.3367 is the level to take to confirm further slides, looking then for a quick move towards 1.3330/40 price zone. Once below this last, 1.3295, past November 2013 comes next.
The pair seems well limited to the upside by 1.3400, but some steady gains above it can see the pair up to 1.3440. Further rallies however are unlikely, considering US employment figures will be released early Friday.
View Live Chart for EUR/USD
Recommended Content
Editors’ Picks
EUR/USD stays below 1.0700 after US data
EUR/USD stays in a consolidation phase below 1.0700 in the early American session on Wednesday. The data from the US showed a strong increase in Durable Goods Orders, supporting the USD and making it difficult for the pair to gain traction.
USD/JPY refreshes 34-year high, attacks 155.00 as intervention risks loom
USD/JPY is renewing a multi-decade high, closing in on 155.00. Traders turn cautious on heightened risks of Japan's FX intervention. Broad US Dollar rebound aids the upside in the major. US Durable Goods data are next on tap.
Gold trades on the back foot, manages to hold above $2,300
Gold struggles to stage a rebound midweek following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% after US data, not allowing the pair to reverse its direction.
Worldcoin looks set for comeback despite Nvidia’s 22% crash Premium
Worldcoin price is in a better position than last week's and shows signs of a potential comeback. This development occurs amid the sharp decline in the valuation of the popular GPU manufacturer Nvidia.
Three fundamentals for the week: US GDP, BoJ and the Fed's favorite inflation gauge stand out Premium
While it is hard to predict when geopolitical news erupts, the level of tension is lower – allowing for key data to have its say. This week's US figures are set to shape the Federal Reserve's decision next week – and the Bank of Japan may struggle to halt the Yen's deterioration.