• EUR/USD reaches a three-week low at 1.2724.
  • Market sentiment weighs on the EUR/USD as flows flew to the safe-haven USD.
  • The US Dollar Index rises above 93.00 despite weak US consumer sentiment data.

EUR/USD keeps sliding for the second day in a row, exchanging hands at 1.1728 down 0.30% on the day at the time of writing. After a stellar US Retail Sales report on Thursday, the EUR/USD pair is trading at three-week lows, on broad US dollar strength. 

The US Dollar Index (DXY) is at three-week highs

The market mood is in risk-off mode, with US stock indices sliding between 0.26% and 1.19% and bond yields rising. The US 10-year benchmark rate is at 1.368%, up almost four basis points on Friday, underpinning the greenback. The US Dollar Index is up 0.33%, sitting at 93.17.

During the European session, the Eurozone Core Consumer Price Index (YoY) rose by 1.6%, in line with expectations. Meanwhile, the Core CPI for August (MoM) edged higher 0.3% as foreseen.

Across the pond, the US University of Michigan Consumer Sentiment increased slightly to 71 in September versus 70.3 in the previous month, although it was worse than the 72.2 expected. The report attributed the declines to higher prices, as consumers expect the inflation rate to rise 4.7%, matching the highest since 2008.

Investors’ focus turns to next week events. The Federal Open Market Committee will discuss monetary policy issues, being the QE reduction the spotlight of the statement.

Key technical levels to watch

EUR/USD

Overview
Today last price 1.1728
Today Daily Change -0.0037
Today Daily Change % -0.31
Today daily open 1.1765
 
Trends
Daily SMA20 1.1804
Daily SMA50 1.1799
Daily SMA100 1.193
Daily SMA200 1.1993
 
Levels
Previous Daily High 1.1821
Previous Daily Low 1.175
Previous Weekly High 1.1886
Previous Weekly Low 1.1802
Previous Monthly High 1.19
Previous Monthly Low 1.1664
Daily Fibonacci 38.2% 1.1777
Daily Fibonacci 61.8% 1.1794
Daily Pivot Point S1 1.1737
Daily Pivot Point S2 1.1708
Daily Pivot Point S3 1.1666
Daily Pivot Point R1 1.1807
Daily Pivot Point R2 1.1849
Daily Pivot Point R3 1.1877

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD stays afloat above 1.1600 as inflation data meet expectations

EUR/USD came under modest bearish pressure in the early European session and continues to have a difficult time regaining its traction. After the data from the euro area revealed that annual CPI stayed unchanged at 3.4% in September, the pair stays relatively calm above 1.1600.

EUR/USD News

GBP/USD drops below 1.3800 as UK CPIs disappoint

GBP/USD eases below 1.3800, as an unexpected decline in the UK inflation douses the BOE rate hike expectations. Covid resurgence in the UK also undermines the pound. The pair could find support from a broadly subdued US dollar and fresh Brexit optimism. 

GBP/USD News

Gold: $1791 appears a tough nut to crack for XAU/USD bulls

Gold price is holding the higher ground, extending the previous advance amid a pullback in the US 10-year Treasury yields from five-month highs of 1.672%.

Gold News

Crypto markets prepare for final pullback before next leg up

Bitcoin price is due for a retracement as MRI flashes a sell signal on the daily chart. Ethereum price continues to consolidate under the $3,938 resistance level. Ripple price slides below the $1.09 support level as the crypto markets prepare for a minor correction.

Read more

Tesla: Why it is time to sell TSLA stock

Tesla breaks higher again on Monday as we had called. TSLA to release earnings after the close on Wednesday. Is it time to sell Tesla stock now before earnings?

Read more

Forex MAJORS

Cryptocurrencies

Signatures