The EUR/USD dropped from 1.0800 down to 1.0700 due to the release of the United States Consumer Price Index. The higher than expected inflation caused a strengthening of the US Dollar. However, by the end of Thursday's trading, the pair had almost recovered to 1.0800. Economic Calendar Analysis On Friday, the US Producer Price Index data sets could impact the pair at
The 1.0720/1.0740 support range held. Moreover, it appears that the rate reversed already at the weekly S1 simple pivot point at 1.0744. After finding support, the rate surged and encountered resistance in the 200-hour simple moving average. Economic Calendar Analysis This week, there are no more events scheduled that could impact the rate. EUR/USD hourly chart analysis A move above the 200-hour SMA would
Since encountering support at 1.0720/1.0740, the EUR/USD rate slightly recovered. However, the recovery did not manage to reach the 1.0800 mark, as on Thursday the rate declined and was heading back to the support range. The decline was attributed to recent comments by US central bankers that they want inflation to got down, before considering rate cuts. Economic Calendar Analysis This week,
The United States Bureau of Labor Statistics has published the monthly employment data sets. The released data has caused a surge of the US Dollar of 0.5% over the span of a minute. Afterwards, the Dollar continue to gain, as the momentum had continued. Since mid-Monday, the Dollar index was testing the 104.50 level's resistance. The EUR/USD has declined to the
The United States Federal Reserve has just published its Federal Funds Rate. As expected, the central bank has kept its base rate unchanged at 5.50%. The no change was expected. Afterwards, the markets were looking forward to the follow up press conference of the Chairman of the Federal Reserve Jerome Powell. In general, the head of the central bank stated that
Prior to the release of the US Federal Reserve Rate announcement, the EUR/USD dropped and found support in the combination of the 1.0800 level and the weekly S1 simple pivot point at 1.0798. The event was followed by a surge that eventually broke the 1.0820/1.0830 range, the 50-hour simple moving average and the resistance line that has pushed the rate
The EUR/USD has continued to be volatile near the 1.0900 mark, as various data has come in and bounced the rate around. However, this week the pair passed below the 1.0820/1.0830 range and appeared to be confirming it as resistance. Economic Calendar Analysis This week, the financial markets could be moved by fundamental data releases starting from Tuesday. On that day, the
Throughout the past week, the financial markets have been reacting to United States fundamental data releases. In general, Consumer and Producer price indices and Retail Sales data have revealed that prices are going higher and the consumers don't care and just keep buying. Namely, the US Federal Reserve is not likely to cut interest rates, as the markets suddenly assumed
During the volatility caused by the US Consumer Price Index, the EUR/USD encountered resistance in the 1.1000 mark, which kept the rate down. On Friday, prior to the PPI publication, the rate had returned to trade near 1.0950. Economic Calendar Analysis On Friday, at 13:30 GMT, inflation at the producer level will be revealed, as the US Producer Price Index will be
In general, technical analysis is set to remain rather irrelevant until the publication of the US Consumer Price Index on Thursday at 13:30 GMT. Meanwhile, note that some impact could be made by strong clusters of technical levels. Support is found near 1.0930 and resistance was located at 1.0980. Economic Calendar Analysis This week, the top event is scheduled for Thursday. At
Since the high volatility that was caused by the US employment data, the EUR/USD rate has consolidated around the 1.0950. Support is found near 1.0930 and resistance was located at 1.0980. In the meantime, note that the initial drop of the US Dollar was offset by details of the US employment release. Namely, despite new jobs, higher earnings and lower unemployment
In general, fundamentals keep making an impact on the markets. It was revealed eventually to the world that the Fed might not cut rates until the end of 2024, which strengthened the US Dollar. Moreover, the release of US Employment data on Friday at 13:30 GMT caused volatility. The EUR/USD had declined to the support of the 1.0880/1.0890 range due to
The publication of the US Federal Reserve Meeting Minutes has reminded the world that the Fed is debating a reduction of interest rates and a stop to the reduction of the central bank's balance sheet. The reminder caused a decline of the US Dollar's value. On the EUR/USD charts the pair had additional support of the 1.0900 mark and a recovery
The EUR/USD decline has extended below the 1.1000 mark, as the year started with a surge of the US Dollar against other assets. However, the pair appears to have found support in the 1.0930/1.0935 zone. Economic Calendar Analysis At the start of 2024, notable events start on Wednesday. At 15:00 GMT, watch the Institute for Supply Management Manufacturing Purchasing Managers Index survey
At the end of the year US firms book losses on assets to reduce their annual profit and with it the taxable income. It occurs by selling stocks, bonds, other currencies on last day of the year and buying them back on the first day of trading. Namely, big players are selling everything against the Dollar, which is boosting the
The surge of the EUR/USD currency pair continues, as it has reached a new high level. Namely, the pair passed above the 1.1100 mark and confirmed it as support. By mid-Thursday, the rate had touched the 1.1140 level. Economic Calendar Analysis There are no notable events scheduled during the holiday week. EUR/USD hourly chart analysis The pair is set to face the resistance of
The EUR/USD currency pair has reached a new high level, as the 1.1008/1.1017 has provided support and caused a move above 1.1050. Economic Calendar Analysis There are no notable events scheduled during the holiday week. EUR/USD hourly chart analysis An extension of the ongoing surge might be slowed down by the 1.1100 mark, before the pair approaches the weekly R2 simple pivot point at
Instead of heading straight to the 1.1000 mark, the EUR/USD consolidated and found support in the 1.0930/1.0935 range. The range held and on Thursday the pair finally reached the 1.1000 mark, which was pierced at mid-day. Economic Calendar Analysis On Friday, the United States Bureau of Economic Analysis will publish the Core Personal Consumption Expenditure Price Index at 13:30 GMT. The change
The support of the 1.0880/1.0888 range and the weekly simple pivot point was enough to cause a surge of the Euro against the US Dollar. By mid-Tuesday, the pair had passed above the 1.0960/1.0965 range that acted as resistance. By the end of the day, it appeared that the zone had acted as support. Economic Calendar Analysis During the week before Christmas,
The EUR/USD rate has declined below the 1.0900 mark, where it appears to have found support in the combination of the weekly simple pivot point, 100-hour simple moving average and the 1.0880/1.0888 range.Meanwhile, Dukascopy traders have been short since Friday and most likely were gaining profits. Economic Calendar Analysis During the week before Christmas, there will be a couple of data releases
The rate was surging after finding support in the 1.0880/1.0888 range, as the management of the European Central Bank added fuel to the fire. Despite keeping the Euro rate unchanged, the central bank President Christine Lagarde made comments on how the policy should be strict and tight, which pushed the Euro even higher. After the events, the surge continued until the
The Federal Reserve announced that it could cut interest rates in 2024, which caused a massive drop of the US Dollar. The EUR/USD jumped and reached levels near the 1.0900 mark. After the event, the pair shortly reached above 1.0900, before retracing downwards and revealing a support zone at 1.0880/1.0888. Economic Calendar Analysis After the US reveal their policy, the rest of
The pair has remained between support at 1.0740 and resistance of the 1.0820 level, throughout this week. The only exception was the US CPI release on Tuesday that caused an increase of volatility, but no direction was established. The markets wait for the Federal Reserve Rate announcements at 19:00 GMT. The event should easily break the moving averages, weekly pivot
The EUR/USD made an attempt to surge, prior to the Friday's US employment release. However, it encountered resistance in the 100-hour simple moving average. Afterwards, the US data publication caused a decline below 1.0740, but it was followed by a recovery to the resistance of the 50-hour simple moving average. On Monday, the combined resistance of the 50 and 100-hour SMAs