EUR/USD passes support levels

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The EUR/USD attempted to pass the resistance of the 1.1190/1.1200 range for a second time, before failing. The failure was followed by a broader decline, which passed the 50, 100 and 200-hour simple moving averages, broke the ascending channel pattern, reached below the weekly simple pivot point. However, then the 1.1100/1.1105 range held, and it appeared that the rate might recover.

On Thursday morning, a previously not noted macroeconomic data release caused a major Euro decline. The publication of the Spanish Flash CPI revealed information that inflation in the Euro Zone might be far below what was previously assumed.

The Spanish Flash CPI was expected to show a stunning decline of inflation, down to 2.4% from the previous 2.8%. The actual data was 2.2%, which is almost at the ECB target. Moreover, note that inflation in Spain has been steadily declining. It has decreased from 3.6% in May down to 2.2% over the span of three months.

Namely, the European Central Bank might easily increase their rate cut program. Due to the signal of potential increased weakening of Euro rates, the EUR/USD plummeted 40 base points or 0.36% in the ten minutes following the release.

A continuation of the decline might stop near the weekly S1 simple pivot point at 1.1076 or the support ranges near 1.1050 and 1.1000.

On the other hand, a potential recovery is set to face major resistance. The 1.1100 mark could slow down the rate first, before it reaches the combination of the 50, 100 and 200-hour simple moving averages that are approaching the weekly simple pivot point at 1.1138. Higher above, note the 1.1160/1.1175 and 1.1190/1.1200 zones.
Back to articles

Actual Topics

Thu, 29 Aug 2024 08:36:29 GMT

GBP/USD trades between two zones

The surge of the Pound against the USD eventually exhausted itself near the 1.3250 level. The reaching of this level was followed by a decline to the 1.3170./1.3180 range that provided support. Since then, the rate has traded between this range and the resistance of the 1.3220/1.3230 range. The pair remained between this range, despite Thursday morning news of decreasing

Mon, 26 Aug 2024 13:39:41 GMT

Gold approaches all-time high

Despite declining on Thursday, the price for gold eventually found support in the 2,470.00 mark. Since then, a recovery has taken place. On Friday, the speech by Jerome Powell added strength to the recovery. By mid-Monday, the commodity price was approaching the all-time high levels near 2,530.00. A breaking above the 2,530.00 level is expected to be slowed down by

Subscribe to "Fundamental Analysis" feed

Abonnieren
Um mehr über die Forex/CFD Handelsplattform von Dukascopy Bank SA, sowie über den SWFX und weitere handelsbezogene Informationen zu erfahren,
rufen Sie uns bitte an oder hinterlassen Sie eine Rückrufanfrage.
Für weitere Informationen über eine mögliche Zusammenarbeit,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Um mehr über die Dukascopy Bank Binären Optionen zu lernen /Forex Handelsplattform, SWFX und andere Handelsbezogenen Informationen,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Um mehr über die Forex/CFD Handelsplattform von Dukascopy Bank SA, sowie über den SWFX und weitere Handelsbezogenen Informationen zu erfahren,
rufen Sie uns bitte an oder hinterlassen Sie eine Rückrufanfrage.
Um mehr über Krypto Handel/CFD/ Forex Handelsplattform, SWFX und andere Handelsbezogenen Informationen zu erfahren,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Um mehr über Business Introducer und andere Handelsbezogenen Informationen zu erfahren,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Für weitere Informationen über eine mögliche Zusammenarbeit,
rufen Sie uns bitte an oder bitten Sie um einen Rückruf.