Key Highlights
-
The Euro made a nice upside move against the US Dollar due to positive sentiment.
-
The EUR/USD pair has settled above a major resistance area at 1.1280 on the 4 hours chart.
EURUSD Technical Analysis
The Euro climbed higher and broke a crucial resistance at 1.1280 vs the US Dollar. The EUR/USD pair is currently trading above 1.1400 and looks set for more gains.
This past week was eventful for EUR/USD, as the pair managed to gain strength and broke a few resistances like 1.1240 and 1.1280.
It called for a sharp rally and the pair rose to a new monthly high of 1.1444. The pair is currently consolidating gains and trading above the 1.1400 handle.
There is a contracting triangle pattern with support at 1.1410 formed on the 4-hours chart. As long as the triangle support is intact, there are chances of more gains above 1.1440. On the downside, the next major support is at 1.1350, followed by the 1.1280 barrier.
Interested in EURUSD technicals? Check out the key levels
Titan FX is registered and regulated in New Zealand under FSP388647. Our global headquarters and operational hub is located in Auckland, New Zealand.
Recommended Content
Editors’ Picks
EUR/USD trades with negative bias, holds above 1.0700 as traders await US PCE Price Index
EUR/USD edges lower during the Asian session on Friday and moves away from a two-week high, around the 1.0740 area touched the previous day. Spot prices trade around the 1.0725-1.0720 region and remain at the mercy of the US Dollar price dynamics ahead of the crucial US data.
USD/JPY jumps above 156.00 on BoJ's steady policy
USD/JPY has come under intense buying pressure, surging past 156.00 after the Bank of Japan kept the key rate unchanged but tweaked its policy statement. The BoJ maintained its fiscal year 2024 and 2025 core inflation forecasts, disappointing the Japanese Yen buyers.
Gold price flatlines as traders look to US PCE Price Index for some meaningful impetus
Gold price lacks any firm intraday direction and is influenced by a combination of diverging forces. The weaker US GDP print and a rise in US inflation benefit the metal amid subdued USD demand. Hawkish Fed expectations cap the upside as traders await the release of the US PCE Price Index.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
US economy: Slower growth with stronger inflation
The US Dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.