ECB beats down EUR/USD

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


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 Euro. The EUR/USD plummeted more than 50 base points in less than ten minutes. On our hourly candle chart the move occurred as a passing of the support of the 200-hour simple moving average, prior to finding support in the 50-hour simple moving average.

In the case that the rate declines below the 50-hour simple moving average, the pair might look for support in the Wednesday's low level at 1.0810. Further below, the 1.0800 mark and the weekly S1 simple pivot point could stop a decline.

On the other hand, the pair might recover and face resistance at 1.0900, which is strengthened by the 200-hour simple moving average. Higher above, note the weekly simple pivot point at 1.0922 and the high level zone at 1.0927/1.0937.
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Actual Topics

Thu, 14 Apr 2022 13:07:16 GMT

GBP/USD surge finds resistance in 1.30150

On Wednesday, the GBP/USD eventually broke resistance levels against the US Dollar. By the middle of Thursday's trading hours, the rate had reached and bounced off the resistance of the 1.3150 mark. Afterwards, a decline started, which was heading to the cluster of technical levels at 1.3040/1.3060. The zone was made up of previous high levels, the weekly simple pivot

Thu, 14 Apr 2022 08:24:29 GMT

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