Current Setup and Live Chart The EUR/USD finds itself in the middle of a USD bid this Thursday, as new worries about the energy shock drives risk-off sentiment and a flight to safety. The Euro has dipped to 10-day lows versus the greenback, as the geopolitical tensions in the Middle East drove oil prices back above $100 per barrel.
When is the US flash S&P Global PMI for April and how could it affect EUR/USD?
EUR/USD has declined steadily, falling to 1.1688 on Thursday. The US dollar has returned to ten-day highs amid a lack of progress in US-Iran peace talks, boosting demand for the currency as a safe-haven asset.
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 hesitates at 1.1700 after mixed Eurozone PMI figures
EUR/USD: Sideways bias with Dollar edge – Commerzbank
EUR/USD stays under pressure as dollar demand rises, but weak US services data may help limit further downside.
The EUR/USD exchange rate has pulled back in the past two consecutive days as investors reflect on the next stages of the ongoing US-Iran war. It retreated to 1.1710, down from this month's high of 1.1847.
Euro-dollar may have risen too far too fast, but bigger gains could lie ahead. Image © Adobe Images Euro-dollar may have risen too far too fast, but bigger gains could lie ahead.
EUR/USD holds gains above 1.1700 on US-Iran ceasefire extension
EUR/USD is turning lower after failing to sustain gains near recent highs, with price now approaching a key support zone within the broader uptrend structure. The pullback reflects a loss of near-term momentum following the recent rally, shifting focus to whether this move remains corrective or develops into a deeper reversal.
The EUR/USD forecast has taken a hit in the last few days owing to the lack of any progress in the Strait of Hormuz situation. The popular pair has been hovering near the 1.1750 level for a few days now as markets weigh the impact of elevated oil prices.