EUR/USD reacts to weakening Dollar

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


The Federal Reserve hiked just 0.25% that were expected. Moreover, follow up comments by the head of the Federal Reserve have been perceived by the markets as dovish for the USD. Namely, the US Dollar's value and demand for it will not grow due to monetary tightening, as the Fed remains indecisive and "data dependant."

In the aftermath of the event, the EUR/USD pierced the resistance of the 1.1100 mark and was signalling a continuation of the ongoing upwards move. The surge of the Euro against the US Dollar is expected to be slowed down by the combination of the 1.1150 level and the 200-hour simple moving average. Higher above, take into account the weekly simple pivot point at 1.1169, the 1.1200 mark and the weekly R1 simple pivot point at 1.1231.

On the other hand, a potential decline of the Euro against the US Dollar is expected to look for support in various technical levels. The 100-hour SMA is acting as weak support at 1.1086. The combination of the 50-hour SMA and the weekly S1 simple pivot point are impacting the rate near 1.1060. Further below, note this week's low level zone at 1.1020/1.1040.
Back to articles

Actual Topics

Thu, 27 Jul 2023 07:05:50 GMT

GBP/USD aims at 1.3000

The Federal Reserve hiked just 0.25% that were expected. Moreover, follow up comments by the head of the Federal Reserve have been perceived by the markets as dovish for the USD. Namely, the US Dollar's value and demand for it will not grow due to monetary tightening, as the Fed remains indecisive and "data dependant." The GBP/USD reacted to the

Wed, 26 Jul 2023 09:43:19 GMT

Gold recovers

Today, all attention will be on the US Federal Reserve Rate announcement at 18:00 GMT. The event is going to set the base rate on the USD. A hike is expected to increase the USD demand and value, but no hike would decrease it. Prior to the event, the price for gold extended the recovery that had started after

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request)
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request).
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.