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
The EUR/USD has confirmed the support and resistance zone at 1.0800/1.0805 and that there is support at 1.0760. Meanwhile, as the rate has fluctuated sideways, it has pierced the upper trend line of the December channel down pattern. Economic Calendar Analysis On Friday, watch out for the US employment data release. The release is bound to impact the financial markets through the
Since last week, the US Dollar has continued to strengthen due to the good GDP data giving the needed push. On the EUR/USD charts by mid-Wednesday it had resulted in a decline below 1.0800. Economic Calendar Analysis On Friday, watch out for the US employment data release. The release is bound to impact the financial markets through the value of the US
On Wednesday, at 13:30 GMT, the United States Bureau of Economic Analysis published the US Preliminary Gross Domestic Product data. The markets expected the US GDP to have increased by 5.0% on a quarter to quarter basis. However, the actual number turned out to be 5.2%. The news strengthened the US Dollar and caused a decline of the EUR/USD. However, the
The resistance zone at 1.0950/1.0965 failed to hold, as the additional support of the 50-hour simple moving average approached. The follow up surge easily passed above the weekly R1 simple pivot point at 1.0982 and pierced the 1.1000 mark. However, during the first half of Wednesday's trading the pair started a decline. In general, the bulls were taking gains, as they
On Monday, the EUR/USD currency exchange rate approached the November high level zone at 1.0950/1.0965. By mid-Tuesday, situation had not changed, the rate remained below this level and was testing its resistance. Economic Calendar Analysis This week, the EUR/USD could react to the publication of the German and Spanish Consumer Price Indices on Wednesday morning. On Wednesday, at 13:30 GMT, the US
The EUR/USD currency exchange rate has approached the November high level zone at 1.0950/1.0965. Economic Calendar Analysis This week, the EUR/USD could react to the publication of the German and Spanish Consumer Price Indices on Wednesday morning. On Wednesday, at 13:30 GMT, the US Preliminary quarterly GDP is expected to impact the financial markets through the value of the US Dollar. On
Due to the US holidays the markets are closed in the United States, which has reduced volatility. In general, it has resulted in the EUR/USD remaining near the 1.0900 mark. Economic Calendar Analysis Next week, the EUR/USD could react to the publication of the German and Spanish Consumer Price Indices on Wednesday morning. On Wednesday, at 13:30 GMT, the US Preliminary quarterly
The decline of the Euro against the US Dollar eventually encountered support in the form of the 1.0850 level. In addition, it is assumed that some pressure came from the approaching 200-hour simple moving average. The event was followed by a recovery up and above the 1.0900 mark. Economic Calendar Analysis Next week, the EUR/USD could react to the publication of the
The reaction to the release of the Federal Reserve Meeting Minutes was minor. Meanwhile, the pair confirmed the 1.0950/1.0965 range as resistance. By mid-Wednesday, the rate had reached the 1.0900 mark and the 100-hour simple moving average, which appeared to be failing to act as support.Meanwhile, it was spotted that since Tuesday Dukascopy traders have been short and are taking
The EUR/USD has massively surged due to the US inflation having been revealed to be lower than markets expected. This week, the surge continued, as the pair reached above 1.0900. On Monday, the pair tested the resistance of the 1.0940 level. By mid-Tuesday, the pair was at 1.0960. Economic Calendar Analysis This week, the financial markets could adjust to the publication of
The EUR/USD has massively surged due to the US inflation having been revealed to be lower than markets expected. This week, the surge continued, as the pair reached above 1.0900. On Monday, the pair tested the resistance of the 1.0940 level. Economic Calendar Analysis This week, the financial markets could adjust to the publication of the US Federal Reserve Federal Open Market
The 200-hour simple moving average has reached and strengthened the support of the 1.0655/1.0665 range. Meanwhile, the 50 and 100-hour simple moving averages appear to be failing at impacting the EUR/USD. Economic Calendar Analysis On Tuesday note the US Consumer Price Index data set release at 13:30 GMT. The data release is set to impact the US Dollar's value. Higher than expected
Since Tuesday, the EUR/USD has continued to respect the support of the weekly simple pivot point at 1.0664 and the 1.0660 mark. Meanwhile, it has been observed that the 50 and 100-hour simple moving averages fail to impact the pair. Economic Calendar Analysis This week, there are no notable pre-scheduled events that might impact the currency exchange rate. Some financial news outlets
On Tuesday, the EUR/USD confirmed that it can find support in the combination of the weekly simple pivot point and the 100-hour simple moving average at 1.0665. Economic Calendar Analysis This week, there are no notable pre-scheduled events that might impact the currency exchange rate. Some financial news outlets note the upcoming "speech" of Jerome Powell on Thursday at 19:00 GMT. However,