(VIANEWS) – Although the euro fell initially during Wednesday’s trading session, it found sufficient support in the same region as we had over the past three days to turn the market around. We are now closing in on the upper end of the range. This does indicate that the market could move higher. I believe we will try to get out of this falling wedge. You can look towards the tops of this pattern by looking at the falling wedge, which is a bullish structure.
DailyForex reports that the 200 day EMA stands at 1.1920, while the 200 day EMA has begun to fall. We will likely see some recovery, as the market has not fallen significantly. This being said, I believe there is a potential short-term buy opportunity. However, if you prefer to wait until the long-term trades, the market will likely be at its peak.
EUR/USD (EURUSD) is currently on bearish momentum. At 14:06 EST on Thursday, 22 July, EUR/USD (EURUSD) is at 1.1767, 1.52% down since the last session’s close.
EUR/USD (EURUSD) Range
About EUR/USD’s daily highs and lows, it’s 0.111% up from its trailing 30 days low of $1.18 and 1.548% down from its trailing 30 days high of $1.20.
EUR/USD’s yearly highs and lows, it’s 1.949% up from its 52-week low and 4.721% down from its 52-week high.
EUR/USD’s last week, last month’s, and last quarter’s current volatility was a negative 0.09%, a negative 0.07%, and a positive 0.43%, respectively.
EUR/USD’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 0.10% (last week), 0.28% (last month), and 0.43% (last quarter), respectively.
Forex Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, EUR/USD’s Forex is considered to be overbought (>=80).
Last news about EUR/USD (EURUSD)
Eur/usd sellers flirt with 1.1800 as risk aversion backs USD bulls. According to FXStreet on Monday, 19 July, “Although a sustained trading below 200-DMA, around 1.2000, keeps EUR/USD sellers hopeful, the monthly low near 1.1770 and a one-month-old descending support line around 1.1700 challenge the pair’s further downside.”, “It’s worth noting that the gradually firming up US-China tussles also drown the EUR/USD prices. ”
Eur/usd bears tease 1.1800 amid four-day downtrend. According to FXStreet on Tuesday, 20 July, “On Monday, fears of virus strain dragging the recovery moves from the pandemic joined reflation fears to fetch EUR/USD to the fresh low since April. “, “Moving on, the German Producer Price Index (PPI) for June, expected 8.5% versus 7.2% YoY, may keep the ECB hawks hopeful and back the EUR/USD but the details of the ECB Banking Lending Survey, will be observed for further details. ”
Eur/usd forecast: euro continues to look relatively negative – 19 July 2021. According to DailyForex on Monday, 19 July, “If we can break above the 93 handle in the US Dollar Index, it is very likely that the EUR/USD pair will start falling as well.”
Eur/usd likely to remain confined to familiar ranges until fresh catalysts emerge – TD securities. According to FXStreet on Thursday, 22 July, “They see some disappointment to those looking for a stronger dovish signal that suggests some potential for a EUR/USD move higher but they warn the move is limited as investors shift their attention to next week’s FOMC meeting.”
Eur/usd rebounds from monthly lows toward 1.1825. According to FXStreet on Monday, 19 July, “The EUR/USD rebounded sharply from its lowest level since April, below 1.1770, and printed a fresh daily high at 1.1825. ”
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