EUR/USD Forecast: Still in wait and see mode


Nothing has changed for the EUR/USD over the last couple sessions, still trading in a tight range near its year low. Some upward spike has seen price extending up to 1.3444 but the pair was unable to sustain its gains and trades back below the 1.3440 mark where it has been ever since the week started.  

The 4 hours chart shows mentioned spike was capped by a bearish 20 SMA, while indicators remain flat below their midlines, giving no directional signs. Despite heavy, the pair needs to accelerate below 1.3410 to confirm a new leg lower, something will rather happen on Wednesday and not today. Anyway, a break below the level will see next supports at 1.3380 and 1.3350 price zone. 

Some upward momentum above 1.3440 on the other hand, should lead to a test o 1.3475, probable top for the day.

View Live Chart for EUR/USD


e












Recommended Content


Recommended Content

Editors’ Picks

EUR/USD hold comfortably above 1.0750 as USD recovery loses steam

EUR/USD hold comfortably above 1.0750 as USD recovery loses steam

EUR/USD clings to small daily gains above 1.0750 in the early American session on Monday. In the absence of high-tier data releases, the US Dollar finds it difficult to gather recovery momentum and helps the pair hold its ground.

EUR/USD News

GBP/USD struggles to find direction, holds near 1.2550

GBP/USD struggles to find direction, holds near 1.2550

GBP/USD stays under modest bearish pressure and trades near 1.2550 on Tuesday. The neutral risk mood, as reflected by the mixed action seen in US stocks, doesn't allow the pair to make a decisive move in either direction. The Bank of England will announce policy decisions on Thursday.

GBP/USD News

Gold rebounds to $2,320 as US yields edge lower

Gold rebounds to $2,320 as US yields edge lower

After falling to $2,310 in the early European session, Gold recovered to the $2,310 area in the second half of the day. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.5% and helps XAU/USD find support.

Gold News

Ripple lawsuit develops with SEC reply under seal, XRP holders await public redacted versions

Ripple lawsuit develops with SEC reply under seal, XRP holders await public redacted versions

Ripple lawsuit’s latest development is SEC filing, under seal. The regulator has filed its reply brief and supporting exhibits and the documents will be made public on Wednesday, May 8. 

Read more

The impact of economic indicators and global dynamics on the US Dollar

The impact of economic indicators and global dynamics on the US Dollar

Recent labor market data suggest a cooling economy. The disappointing job creation and rising unemployment hint at a slackening demand for labor, which, coupled with subdued wage growth, could signal a slower economic trajectory. 

Read more

Majors

Cryptocurrencies

Signatures