EUR/USD Price Forecast: 20-day EMA caps recovery, flash German HICP data awaited
Intraday analysis covering EURUSD, Gold price analysis, and WTI crude oil, highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets. EURUSD attempting to bounce The euro jumped higher after finding support amid a sell-off.
Euro rebounds from intraday lows as US Dollar loses momentum after PCE data
Euro: Weak EU trade and sentiment weigh against US Dollar – BNY
European currencies continue to trade within established ranges following the heightened volatility of recent weeks. Last week, both EUR/USD and GBP/USD declined before staging a recovery; however, the pairs are once again testing important support levels without developing a sustained directional impulse.
Euro slumps below 1.1600 against US Dollar amid fears of US-Iran war resumption
Euro: Limited downside against US Dollar with ECB hike message – MUFG
The Euro edged higher on Wednesday morning but still holds within a narrow range that extends into third straight day and below strong technical resistances.
On the hourly chart of EUR/USD at FXOpen, the pair gained pace for a move above 1.1600. The Euro tested 1.1650 and recently corrected gains against the US Dollar.
Euro slips as Hormuz firefight revives US Dollar demand
Following the long bank holiday weekend, investors are slightly alarmed by the latest US military actions in Iran, causing oil prices to rebound around 4% from their lows hit on Monday (and around 2% on the day). That, in turn, has seen index cash and futures trim a good chunk of their gains made since markets closed on Friday.
The US dollar has stalled amid the increasingly complex situation in the Middle East. Donald Trump has stated that negotiations with Iran are going well, saying that the outcome will be either a major deal or no deal at all.