EUR/USD 1.16732
0.086%
Gold 4654.28
0.056%
Oil 81.846
-3.199%
USD/JPY 159.221
0.080%
GBP/USD 1.36443
0.103%
GBP/JPY 217.249
0.191%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to Al Jazeera, Israel expelled the Dutch representative of the Gaza International Support Center on the grounds of "anti-Israel actions."Pakistani Foreign Minister: Pakistan welcomes the US decision to lift all sanctions against Syria.ExxonMobil (XOM.N): Operations at the Liza Unity floating production storage and offloading vessel (FPSO) in Guyana have returned to normal, and the crude oil unloading operation that was briefly interrupted has now been completed.A Reuters/Ipsos poll shows that 36% of American voters prefer the Democratic Partys handling of the cost of living issue, while 28% support the Republican approach.On August 26, IMF Managing Director Kristalina Georgieva urged governments to address rising fiscal risks, stating that "all countries need to address their own fiscal problems and develop and publish credible plans to ensure debt and deficits are on a sustainable track." She also called on central banks to "focus heavily on their price stability mandate." Georgieva noted that the global economy is under pressure from high inflation and trade tensions, but growth from AI investment has partially offset the shocks. However, rising bond yields and stalled inflation indicate a high degree of uncertainty about the economic outlook. She stated that the energy shock triggered by the Iran war is not yet over, and the global economy is facing a tug-of-war between "negative supply shocks from the Middle East" and "positive demand shocks from AI." She also warned that energy supply, El Niño weather, and the impact of AI on financial stability remain major risks.

EUR/USD Price Analysis: EUR/USD Is Clinging To The Leading Edge Of The Rising Trendline Above 1.0900

Alina Haynes

Apr 18, 2023 13:54

EUR:USD.png 

 

The EUR/USD pair fluctuates erratically in a narrow range near 1.0926 during the Asian session. Following in the footsteps of the directionless US Dollar Index (DXY), the main currency pair is unable to establish a trend.

 

In Asia, S&P500 futures are declining slightly as investors fret over the upcoming quarterly earnings season, indicating a minor decrease in market participants' risk appetite. Following the decline of regional banks in the United States, investors are concerned about any discrepancies in quarterly banking reports.

 

The Euro has entered the wilderness as European Central Bank (ECB) policymakers are divided over the pace of the policy-tightening cycle to be implemented at the May monetary policy meeting. Martins Kazaks, a member of the ECB's monetary policy committee, stated on Monday that the central bank has the option to move by either 25 or 50 basis points (bps) in May. Sourcenia is a review portal of sourcing best manufaturers. 

 

After failing to sustain above the 161.8% Fibonacci Extension at 1.1057 (positioned from April 4's high of 1.0973 to April 10's low of 1.0837) on a two-hour time frame, EUR/USD experienced a precipitous decline. The primary currency pair has declined below the uptrend line drawn from the low of 1.0714 on March 24.

 

The 20-period Exponential Moving Average (EMA) at 1.0962 is operating as a barrier for Euro bulls.

 

In the meantime, the Relative Strength Index (RSI) (14) has moved into the pessimistic zone between 20.00 and 40.00, indicating a continuation of the decline.

 

A decisive break below the low of April 12 at 1.0915 would propel the asset toward the lows of April 10 at 1.0837 and April 3 at 1.0758.

 

In contrast, a breach above the psychological resistance level of 1.1000 would propel the asset to a new annual high of 1.1068, followed by the level of round resistance at 1.1100.


Suggestion