(VIANEWS) – EUR/USD buyers take a breather ahead of an eventful day, steady around 1.0300 during Wednesday’s Asian session after snapping three-day downtrend the previous day. That said, a firmer risk profile allowed the pair buyers to battle against the sellers the previous day. However, a slew of data/events are up for publishing today and hence cautious mood probe the momentum traders of late.
As reported by FXStreet, european Central Bank (ECB) policymaker Robert Holzmann supported calls for a third straight 75 basis points (bps) rate increase for the December monetary policy meeting In an interview with the Financial Times (FT). However, European Central Bank board member and Bank of Portugal Governor Mario Centeno mentioned that there are many conditions for the rates increase to be less than 75 bps.
EUR/USD (EURUSD) has been up by 1.052% for the last session’s close. At 19:06 EST on Wednesday, 23 November, EUR/USD (EURUSD) is $1.04.
Is EUR/USD Currency Pair a Good Investment?
Traders are interested in buying or selling EUR/USD. This currency pair is the most popular in the Forex market, representing the euro and the US dollar. Both countries are major economies and have important trading partners.
There are many factors that influence the price of the currency pair. One of the most important is interest rates. The US Federal Reserve releases the Federal Funds rate eight times a year. The European Central Bank (ECB) releases the interest rate for the Euro on a monthly basis.
Other factors that affect the EUR/USD are the interest rate differences between the two countries. The US Nonfarm Payroll numbers, released by the Bureau of Labor Statistics on the first Friday of every month, can cause volatility in the pairing.
Traders must consider the correlation of the EUR/USD pair with other trading assets. In addition to economic data, there are political events that can influence the currency pair.
The US-China trade war created uncertainty, which affected the US dollar. EUR/USD has been moving higher since the start of the year, but has been drifting lower for the last five days.
The EU and the US are major trading partners and can influence each other’s economies. Economic data releases, such as unemployment numbers and CPI, can impact the euro. These factors are transparent and easily analyzed.
Traders can analyze the EUR/USD pair by looking at price analysis and technical analysis. These factors will help you decide on a trading strategy.
EUR/USD (EURUSD) Range
About EUR/USD’s daily highs and lows, it’s 1.689% up from its trailing 24 hours low of $1.02 and 1.224% up from its trailing 24 hours high of $1.03.
EUR/USD’s yearly highs and lows, it’s 9.182% up from its 52-week low and 9.379% down from its 52-week high.
EUR/USD’s last week, last month’s, and last quarter’s current intraday variation average was 0.03%, 0.28%, and 0.62%, respectively.
EUR/USD’s highest amplitude of average volatility was 0.34% (last week), 0.71% (last month), and 0.62% (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).
Previous days news about EUR/USD (EURUSD)
- Eur/usd eyes further gains past 1.0300 as US dollar retreats ahead of FOMC minutes. According to FXStreet on Wednesday, 23 November, “It should be noted that the growing uncertainty surrounding the Fed’s next move, especially after the mixed Fedspeak and upbeat US data, keeps the EUR/USD sellers hopeful. “, “A convergence of the 10-DMA and a one-week-old descending trend line restricts immediate EUR/USD upside near 1.0320, a break of which could quickly propel the quote towards the 200-DMA hurdle surrounding 1.0400. “
- Eur/usd: rebound May have already peaked just shy of 1.05 – crédit agricole. According to FXStreet on Tuesday, 22 November, “Economists at Crédit Agricole CIB Research believe that the EUR/USD pair may have already peaked just shy of the 1.05 level last week.”, “The EUR/USD rebound may have already peaked when it spiked just shy of 1.05 last week, as real rate spreads hint at some consolidation lower going into year-end.”
- Eur/usd price analysis: bulls poke 1.0320 hurdle to aim for 200-dma. According to FXStreet on Wednesday, 23 November, “Even if the EUR/USD buyers manage to cross the 1.0400 hurdle, the monthly high near 1.0481 could act as an additional upside filter.”, “Even so, a clear upside break of the 1.0320 resistance could quickly propel the EUR/USD prices toward the 200-DMA hurdle surrounding 1.0400. “
- Eur/usd rebound fades near 1.0250 ahead of eurozone consumer confidence. According to FXStreet on Tuesday, 22 November, “Moving on, EUR/USD bears are likely to rush towards retaking control amid central bank woes and the fears of the coronavirus. “, “Unless crossing a convergence of the two-week-old ascending trend line and the 10-Day Moving Average (DMA), currently around 1.0285, the EUR/USD bears can aim for September’s peak surrounding 1.0200.”
- Eur/usd forex signal: forecast ahead of the FOMC minutes – 23 November 2022. According to DailyForex on Wednesday, 23 November, “The EUR/USD price pulled back slightly ahead of the latest flash manufacturing and services PMIs and FOMC minutes. “, “The EUR/USD price pulled back slightly as the US dollar index pulled back ahead of the FOMC minutes. “
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