The pair managed to meet the target of 1.1580. As we see from the chart, market trend support is at 1.1530-60 which could push for a rebound towards 1.1725.
EUR/USD: Oil-driven terms of trade support Dollar – Commerzbank
The short-term Elliott Wave outlook for EURUSD indicates that the rally to 1.2083 on January 27 marked the completion of wave (1). Following this peak, the pair entered a corrective phase in wave (2), which unfolded as a double three structure.
EUR/USD Price Forecast: Falls to near 1.1600 due to persistent bearish bias
The US dollar has surged this week, bringing the psychologically important 100 level on the US Dollar Index (DXY) back into focus. A positioning extreme in futures markets had already hinted that a sharp move could unfold, and geopolitics appears to have provided the catalyst.
EUR/USD edges lower below 1.1650 as Middle East tensions fuel US Dollar strength
EUR/USD stabilises after touching three-month low as USD rally stalls
EUR/USD: Eurozone PMIs firm as ECB pricing shifts – BNY
The FX market staged a subtle shift in tone this morning. After the dramatic moves driven by surging energy prices, we've seen a partial unwind as investors trim long dollar and short equity bets.
The pair managed to meet the target of 1.1580. As we see from the chart, market trend support is at 1.1530-60 which could push for a rebound towards 1.1725.
EUR/USD remains subdued near 1.1600 following HCOB PMI data
The EUR/USD exchange rate continued its strong downward trend this week, reaching its lowest since November last year as the crisis in the Middle East accelerated. It also dropped as President Donald Trump ordered an end of trade between the US and Spain.