During Friday's trading, the EUR/USD found support in the zone at 1.0472/1.0492 and recovered to the 1.0600 mark, which started to act as resistance. During the late hours of the day's trading, the exchange rate was trading between 1.0600 and the support of the 1.0550 mark. Economic Calendar Analysis During the week, most attention will be put on the US Consumer Price
On Thursday, comments made by the Head Economist of the ECB beat down the value of the EUR/USD, as it was revealed that the ECB is only preparing for rate hikes. By the start of the day's US trading hours, the EUR/USD had reached below the 1.0550 mark, where it encountered support. Economic Calendar Analysis On Friday, the US Dollar and the
Throughout the week, the EUR/USD has been trading in a hundred base point range between a support zone at 1.0472/1.0491 and resistance at 1.0572/1.0593. The sideways trading was explained by the markets expecting the Federal Reserve Rate Hike on Wednesday at 18:00 GMT. As the rate hike occurred, the EUR/USD reacted with a 37 point move upwards, which hit the resistance
On Friday, the US Dollar retraced back down against all peer currencies. On the EUR/USD charts it resulted in a surge above various technical and psychological levels. By the middle of the day's trading, the exchange rate had almost reached the 1.0600 mark. Note that the 1.0600 level could be strengthened by the 100-hour simple moving average. Meanwhile, the Thursday's low
On Thursday, the EUR/USD passed below the 1.0500 level. Meanwhile, the rate had revealed that since April 21 the pair has been declining in a narrow channel down pattern. Economic Calendar Analysis This week's notable events for this pair are over. On Friday, macroeconomic traders might want to look at the Canadian GDP publication. Quiet week for macroeconomics EUR/USD hourly chart's review A continuation of
By the middle of Wednesday's European trading hours, the EUR/USD currency exchange rate had reached below the 1.0600 and approached the weekly S3 simple pivot point at 1.0550. Economic Calendar Analysis During the week, minor moves could be created by some data releases. Meanwhile, note that the whole financial market continues to adjust to the latest comments made by the Federal Reserve
The April high level zone at 1.0920/1.0938 provided resistance to the EUR/USD currency exchange rate. The event was followed with a decline to the weekly simple pivot point at the 1.0832 level. In the meantime, on Friday morning it was spotted that the rate was finding resistance in the 50-hour simple moving average. Economic Calendar Analysis On Friday, at 07:30 GMT, the
On Thursday, the EUR/USD jumped and hit the April high level zone at 1.0920/1.0938. By the middle of the day's GMT trading hours, the rate had bounced off the zone and retraced down to the 1.0880 level. Economic Calendar Analysis On Friday, at 07:30 GMT, the German Flash Manufacturing and Services PMIs are most likely going to cause Euro moves. Click on the
The drop, which was caused by the ECB last week, eventually ended at the 1.0757 level. Most recently, on Tuesday the level acted as support and caused a recovery, which by the middle of Wednesday's trading had reached above 1.0860. Economic Calendar Analysis On Thursday, the weekly US Unemployment Claims at 12:30 GMT might cause a minor USD move. On Friday, at 07:30
On April 14, the European Central Bank kept its base rates in the negative zone and revealed that it would end asset purchases only in the third quarter of 2022. The news indicate that the rampant inflation in the European Union is set to continue, and the value of the Euro is going to decline. The news caused a drop of
The EUR/USD has passed below the support zone at 1.0840. However, the event did not result in a decline. It was observed throughout Wednesday that the pair was fluctuating in the 1.0815/1.0855 range without a clear future direction. Meanwhile, the 50 and 100-hour simple moving averages were approaching the currency pair from above. Economic Calendar Analysis On Thursday, at 11:45 GMT, the
The EUR/USD was declining from the resistance zone at 1.0940 and was approaching the 1.0860 level, as the US Consumer Price Index data was released at 12:30 GMT. The data revealed a 1.2% monthly inflation and signalled that the US Federal Reserve has to immediately tighten US Monetary Policy. The EUR/USD reacted to the news by surging up to the 1.0900
On Monday, the EUR/USD currency pair was testing the last week high level zone at 1.0925/1.0940. Economic Calendar Analysis The second week of April is set to be busy, as US Consumer and Producer Price Index data will be published. In addition, the central banks of New Zealand, Canada and Euro Zone are set to make rate statements. In regards to the EUR/USD,
During the second half of Thursday's trading, the EUR/USD currency exchange rate eventually retreated below the support zone at 1.0875/1.0880. However, the event was not followed by a sharp decline. Economic Calendar Analysis The second week of April is set to be busy, as US Consumer and Producer Price Index data will be published. In addition, the central banks of New Zealand,
Since the start of Wednesday's trading, the EUR/USD has been fluctuating between a resistance zone at 1.0940 and support near 1.0880. However, at mid-day on Thursday, the 1.0880 mark was pierced, as the rate shortly traded below it. Meanwhile, it was observed that the 50-hour simple moving average had caught up with the pair from above and was acting as
On Wednesday, as the US Federal Reserve Meeting Minutes were released at 18:00 GMT, the US Dollar strengthened. In general, the central bank intends to decrease its balance sheet by $95 billion per month and some officials of the central bank have argued for a 0.50% or 1.00% percent rate hike. However, the pair was already declining before, as US central
During the second half of Monday's European trading hours, the EUR/USD broke the channel up pattern, which had guided the rate up throughout March. Moreover, on Tuesday, the lower trend line of the broken channel was confirmed as resistance. In the meantime the breaking of the pattern did not result in a sharp decline, as support was immediately found in the
The decline of the Euro against the US Dollar has continued, as on Monday morning the rate reached the 1.1000 mark. The decline occurred, as the pair bounced off the resistance of the 1.1050 level. Economic Calendar Analysis On Tuesday, the US ISM Services Purchasing Managers Index survey results are expected to impact the value of the US Dollar and all pairs
The EUR/USD has approached the support levels that are spread out from the 1.1040 level up to 1.1050. Economic Calendar Analysis On Tuesday, the US ISM Services Purchasing Managers Index survey results are expected to impact the value of the US Dollar and all pairs that include the USD. During the week, almost all attention will be paid to the US Federal Reserve
The EUR/USD surge above the previous March high level eventually ended during the midnight hours to Thursday. The surge ended at the 1.1180 mark, which acted as resistance. Afterwards, throughout the day's trading hours, the Euro declined against the US Dollar. By 15:00 GMT, the currency exchange rate had reached below the 1.1100 mark. Economic Calendar Analysis The top event of the
At mid-day on Wednesday, the EUR/USD currency exchange rate managed to break the resistance zone of the March high levels at 1.1130/1.1138. In addition, by 14:00 GMT, the pair had reached above the weekly R3 simple pivot point at 1.1157 and confirmed the weekly R2 at 1.1136 as a support level. In general, the recent surge of the Euro against the
Due to ongoing talks between Russia and Ukraine, risk on sentiment caused large moves on Tuesday. On the EUR/USD charts the event resulted in a sharp surge to the March high level zone at 1.1130/1.1138. Economic Calendar Analysis There are nine sets of data being released this week, which might cause an impact on currency valuations. Five of the nine are US
On Monday morning, the EUR/USD passed below the support zone at 1.0960/1.0970. However, after the event, a sudden surge occurred, as the rate returned to the resistance of the 1.1000 mark. By 14:00 GMT, the rate had bounced off 1.1000 and declined to the levels below 1.0950. Economic Calendar Analysis There are nine sets of data being released this week, which might
The support zone at 1.0960/1.0970 has once again held and caused a surge up to the 1.1040 mark. Meanwhile, it was observed on Friday that, despite managing to impact the EUR/USD rate, the technical levels in the 1.1000/1.1027 range fail to reverse the pair's direction. Eventually, the technical levels fail. Economic Calendar Analysis There are nine sets of data being released this