(VIANEWS) – On Monday, the euro broke through support. The 1.08 region was very stubborn. It looks like we will be able to boost US dollar strength in the future by reversing our current trend.
The 1.06 mark may be the most likely target which may break above if it has enough time. There are many concerns about global growth and traders will flock to the United States, this safety factor cannot be ignored. We also need to be aware of the Federal Reserve’s tendency to appear very hawkish. This is exactly the opposite to what we see with the European Central Bank. While traders have begun to estimate a few rate increases for the ECB in their pricing, almost 14 rate rises are expected for the Federal Reserve. This means that expectations of the United States are much higher than those for Europe. The 1.08 level may be resistance. 1.09 is an area that we have seen selling pressure in the past. This market has been noisy lately and is likely to remain so for some time.
EUR/USD (EURUSD) is currently on bearish momentum. At 08:09 EST on Thursday, 28 April, EUR/USD (EURUSD) is at 1.0493, 0.6191% down since the last session’s close.
EUR/USD (EURUSD) Range
About EUR/USD’s daily highs and lows, it’s 0.569% down from its trailing 24 hours low of $1.06 and 0.644% down from its trailing 24 hours high of $1.06.
EUR/USD’s yearly highs and lows, it’s 0.029% up from its 52-week low and 14.462% down from its 52-week high.
EUR/USD’s last week, last month’s, and last quarter’s current intraday variation average was a negative 0.54%, a negative 0.15%, and a positive 0.43%, respectively.
EUR/USD’s highest amplitude of average volatility was 0.54% (last week), 0.42% (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 price analysis: recovery remains capped below 1.0746. According to FXStreet on Tuesday, 26 April, “As observed on the daily chart, EUR/USD breached the critical falling trendline support at 1.0746 amid Monday’s meltdown to the lowest level in two years at 1.0696.”
- Eur/usd: potential for a sharp test of 2017 low at 1.0340 – westpac. According to FXStreet on Thursday, 28 April, “The EUR/USD pair is set to test the 2017 low of 1.0340, economists at Westpac report.”
- Eur/usd forex signal: brief euro pullback likely – 27 April 2022. According to DailyForex on Wednesday, 27 April, “The EUR/USD pair continued its bearish trend as the strength of the US dollar continued. “, “The four-hour chart shows that the EUR/USD pair continued its bearish trend this week. “
- Eur/usd could reach parity amid an energy war – MUFG. According to FXStreet on Wednesday, 27 April, “Yesterday’s price action in EUR/USD saw a breach of the covid pandemic low of 1.0636 with the next downside target the early 2017 low of 1.0341.”, “Talk of EUR/USD reaching and possibly breaching parity even just a few weeks ago seemed a tall order but the declines now on this potentially damaging development means such a scenario is no longer such a tall order.”
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