The euro retreats after testing 1.17, as upcoming U.S. PCE data and the FOMC decision threaten to revive dollar strength and disrupt recent euro gains.
Technical Analysis
The EUR/USD pair is highly recommended for traders who are only beginning to trade Forex. It trades easily by retail traders as well as by Central banks and financial institutions around the world.
The most active trading sessions takes place in London and New York and the most commonly used EUR/USD Forex charts are the Daily, 4 Hour and 1 Hour charts. The traders at Daily Forex will post the latest Euro to US dollar forecasts and will keep you totally updated regarding EUR/USD trading.
EUR/USD receives additional interest from volume generated by the Euro-crosses (e.g. euro/British pound (EUR/GBP), EUR/CHF and EUR/JPY. This interest tends to be contrary to the underlying U.S. dollar direction, making it an attractive market for short-term traders.
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EUR/USD trades with a bullish bias ahead of key Eurozone inflation data, supported by rising European bond yields and softening U.S. rate expectations, with a breakout toward 1.18 in sight.
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EUR/USD continues drifting higher but faces resistance, with traders awaiting next week’s FOMC decision for clearer direction amid diverging U.S.-Eurozone economic outlooks.
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EUR/USD trades neutrally near 1.1600 as stronger-than-expected inflation data offers modest support, but bulls need a stronger catalyst—like ECB commentary or U.S. labor data—to break decisively toward 1.1800.
Technical Analysis
EUR/USD continues to struggle near 1.16 amid fading rallies and uncertainty ahead of the FOMC, with technical resistance and fundamental divergence favoring a mildly bearish outlook.
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EUR/USD trades near 1.1600 in a neutral triangle pattern, with a breakout likely as traders await Eurozone inflation data and Fed policy clues, amid growing divergence between ECB and Fed outlooks.
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The euro’s rally against the US dollar stalled near 1.1650 on Monday, as market uncertainty ahead of the Fed's decision keeps EUR/USD trading choppy with a slight bearish bias.
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EUR/USD remains in a neutral range near 1.1600, with traders eyeing PMI data and geopolitical developments for a breakout above 1.1700 or a drop below 1.1500.
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The euro bounced back from early weakness on Friday amid renewed Fed rate cut speculation, but broader bearish pressure remains unless EUR/USD breaks above the 1.17 resistance level.
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EUR/USD stayed rangebound on Thursday, testing resistance near the 50-day EMA with direction likely hinging on upcoming U.S. dollar moves amid holiday-thinned trading.
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EUR/USD continues its rebound near 1.1615 in a neutral trend, with thin holiday trading and weak Eurozone data keeping the pair capped below key resistance at 1.1720.
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The Euro climbed to test the 50-day EMA, but upside momentum remains capped below $1.17 as traders await clearer Fed signals and broader USD direction.
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EUR/USD is stabilizing near 1.1560 amid improved sentiment and mixed US data, but technical indicators and Fed policy uncertainty keep the pair within a cautious bearish trend.
Technical Analysis
The euro rallied Tuesday on growing Fed rate cut expectations, but technical resistance near 1.17 and support at 1.14 suggest the EUR/USD remains vulnerable to reversals.
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EUR/USD holds in a tight bearish range as traders await pivotal US economic data, with a breakout likely depending on inflation and retail sales figures.
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