- EUR/USD makes a U-turn and regains the 1.0800 zone.
- Further decline could revisit the August low near 1.0760
EUR/USD manages to pick up some traction and reclaims the area above 1.0800 the figure at the beginning of the week.
The sharp retracement seen in the latter part of last week seems to have shifted the attention to the downside. Against that, the next contention area aligns at the August low of 1.0765 (August 25) prior to the May low of 1.0635 (May 31).
In the meantime, further losses remain in the pipeline while below the key 200-day SMA, today at 1.0817.
EUR/USD daily chart
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.
Recommended content
Editors’ Picks
AUD/USD falls amid highs US yields, Fed’s tough stance
The Australian Dollar posted losses of 0.23% against the US Dollar on Thursday amid higher US yields that underpinned the Greenback during the day. Wall Street hit new all-time highs but retreated afterward, ending the session with losses. As Friday’s Asian session begins, the AUD/USD trades at 0.6678.
EUR/USD slipped on Thursday after Greenback pares some losses
EUR/USD eased slightly on Thursday, falling back below 1.0880 as the Greenback broadly recovers losses from earlier in the week. The pair remains up for the trading week, but a late break for the US Dollar is on the cards as investors second-guess the Fed's stance on rate cuts.
Gold loses its bright and tumbles on firm US Dollar, Fed hawkish comments
Gold prices fell in the mid-North American session on Thursday, below $2,390, as US Treasury yields recovered and underpinned the Greenback. Wednesday’s inflation report in the United States sponsored the golden metal rally, but Thursday’s data was a mixed bag, which could likely trigger some profit-taking ahead of the weekend.
PancakeSwap offers up to $8 million refund of interface fees to Uniswap users
PancakeSwap decentralized exchange announced on Thursday that it is offering users a refund of up to $8 million of interface fees incurred while using Uniswap.
April CPI: Worst good news ever
The monthly rise in prices based on the Consumer Price Index (CPI) came in slightly lower than projected, sending a wave of euphoria across the financial landscape. The consensus is cooling inflation puts Federal Reserve interest rate cuts back on the table.