Everyday perspective.
EUR/USD
Resistance Level 2: 1.0650
Resistance level 1: 1.0600
Spot price: 1.0582
Support bit 1: 1.0530
Support bit 2: 1.0448
EUR/USD rose 0.04% to 1.0593. The dollar retreated in a technical profit correction after Federal Reserve Chairman Jerome Powell said rising market interest rates may reduce the need for the Fed to take action. EUR/USD continues to find support amid the dollar's retreat and volatility. The euro still appears to lack a strong unique bullish stimulus to push the pair towards the 1.0650/1.0700 zone. Markets are likely to await hints from the European Central Bank and more data from the Eurozone next week, but the likelihood of a quick pick-up in bullish momentum for the euro is not too high. This means that EUR/USD should now be driven almost entirely by USD movements. The top is still blocked below 1.0650. Although the technical indicators have risen towards the area, the direction is still unclear. Only when the above-mentioned resistance level is completely broken down, the EUR/USD may be expected to embark on a clear rebound path. .
Resistance Level 2: 1.0650
Resistance level 1: 1.0600
Spot price: 1.0582
Support bit 1: 1.0530
Support bit 2: 1.0448
EUR/USD rose 0.04% to 1.0593. The dollar retreated in a technical profit correction after Federal Reserve Chairman Jerome Powell said rising market interest rates may reduce the need for the Fed to take action. EUR/USD continues to find support amid the dollar's retreat and volatility. The euro still appears to lack a strong unique bullish stimulus to push the pair towards the 1.0650/1.0700 zone. Markets are likely to await hints from the European Central Bank and more data from the Eurozone next week, but the likelihood of a quick pick-up in bullish momentum for the euro is not too high. This means that EUR/USD should now be driven almost entirely by USD movements. The top is still blocked below 1.0650. Although the technical indicators have risen towards the area, the direction is still unclear. Only when the above-mentioned resistance level is completely broken down, the EUR/USD may be expected to embark on a clear rebound path. .
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.