EUR/USD: Recovery eyes full retracement – Scotiabank
The Euro managed to break above the resistance level of the triangle formation to meet the first target at 1.8000. Resistance at 1.1800-35 caused a drop while supports at 1.1600 could create a trading zone.
EUR/USD: Binary path around Gulf deal – ING
EUR/USD: Oil shock, real rates and conflict risks – Commerzbank
EUR/USD Price Forecast: Holds above 1.1700; Iran tensions cap gains as US NFP looms
EUR/USD edges higher above 1.1700 on US-Iran peace optimism, US NFP data looms
EUR/USD price action has looked increasingly unconvincing over the past week, repeatedly rejected on probes towards 1.1800 despite a macro backdrop that should, in theory, be supportive for gains against the dollar.
EUR/USD retreats from intraday highs as Oil prices rebound on Hormuz tensions
EUR/USD: Sentiment-led rally eyes 1.1825 – Scotiabank
The Euro managed to break above the resistance level of the triangle formation to meet the first target at 1.8000. Resistance at 1.1800-35 caused a drop while supports at 1.1600 could create a trading zone.
Crude oil prices fell for the third day, albeit remained just above yesterday's lows, while equity and FX markets were in a bit of holding pattern first thing today. Investors were sitting tightly as the US awaited Iran's response to a proposed peace deal.
The fundamental backdrop for EUR/USD in early May is shaped by diverging monetary policy expectations on both sides of the Atlantic. At its 30 April meeting, the ECB left interest rates unchanged; however, Governing Council members Joachim Nagel and Peter Kazimir signalled the possibility of a rate hike as early as June amid persistent inflationary pressure.