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U.S. DOLLAR / EURO REFERENCE RATE

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EURUSD flirts with 1.0880-75 key support as Fed week beginsEURUSD remains pressured around 1.0890 early Monday, after posting the first weekly loss in four. In doing so, the Euro pair grinds near the 1.0880-75 support confluence comprising the 100-SMA and a five-week-old rising trend line amid the initial hours of the week comprising the key Federal Open Market Committee (FOMC) monetary policy meeting. It’s worth noting that an impending bull cross on the MACD and a below 30 level of RSI (14) suggest the pre-FOMC consolidation of the quote. However, the corrective bounce appears elusive unless buyers manage to cross a downward-sloping trend line from the monthly high, close to 1.0945 at the latest. Even so, the monthly top surrounding 1.0980 and the 1.1000 threshold will act as the final defense of the sellers. Meanwhile, a downside break of the 1.0880-75 key support will allow the EURUSD bears to attack the 200-SMA level of 1.0830. Following that, the 1.0790-85 and the 1.0730 levels could test the sellers before directing the prices toward the yearly low marked in February near 1.0695. In a case where the Euro remains bearish past 1.0695, the May 2023 low of 1.0635 and March 2023 bottom surrounding 1.0515 will provide intermediate halts during a likely south-run targeting the previous yearly low of 1.0448. Overall, the EURUSD pair stays on the bear’s radar even if the oscillators suggest consolidation ahead of the key FOMC.
by MTradingGlobal
EURUSD MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Long
by okako_trading
EURUSD: Stuck in the falling price channel!Hello dear friends, today the stable recovery of the US Dollar (USD) has exerted new downward pressure on EUR/USD, extending its decline for the third consecutive session and revisiting the support level near 1.0900. The upward momentum is limited below the resistance level of 1.0935, as the current trend remains clearly bearish, indicated by the parallel channel on the chart. It is expected that this currency pair will continue to decrease further if it reaches the upper limit of the price channel as marked in the analysis. To find an opportunity for price increase, EUR/USD needs to break the current price channel. On the other hand, if unsuccessful, the next downward target for this currency pair will be at 1.090.
Short
by RKarina
EURUSD rebounds within a month-old bullish channelEURUSD picks up bids to 1.0930 as traders consolidate weekly loss amid a sluggish Asian session on early Wednesday. In doing so, the Euro pair recovers within a one-month-old bullish trend channel amid upbeat RSI and MACD conditions. It’s worth noting that Tuesday’s Doji candlestick adds strength to the quote’s corrective bounce. With this, the buyers are likely to retake control and can aim for the 1.1000 threshold as an immediate upside target. However, the aforementioned channel’s top line surrounding 1.1010 and the November 2023 peak of 1.1017 will test the pair’s further upside. In a case where the bulls keep the reins past 1.1017, the previous yearly high marked in December around 1.1140 will be in the spotlight. On the contrary, EURUSD sellers will have a hard time taking control as the stated channel’s bottom line joins the 21-bar Exponential Moving Average (EMA) to highlight the 1.0870 as a tough nut to crack for them. Even if the Euro bears manage to smash the 1.0870 key support, an ascending support line from October 2023, near 1.0750, will test the bears. Furthermore, lows marked in December 2023 and last month, respectively near 1.0720 and 1.0690, also act as downside filters before giving control to the sellers. To sum up, EURUSD buyers are likely to keep the reins even if the upside room appears limited.
by MTradingGlobal
EURUSD: Waiting anxiously!Hello dear friends! Today, EUR/USD is trading in a tight range below 1.0950 in the morning of Monday in Europe, extending its sideways movement in the context of a stable US dollar and mild risk sentiment. Traders are cautious about placing new bets on the major currency ahead of the US CPI data release on Tuesday. This will be a significant news that will directly impact the new trend of short-term scalpers, whether it is an upward or downward movement! On a personal note, RKarina expects this currency pair to experience a slight downward correction as the trend begins to move sideways and the upward momentum is limited. The support level at 1.087 is highly regarded in case it helps EURUSD regain momentum.
Short
by RKarina
EURUSD MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
by okako_trading
EURUSD: Keep moving forward!Hello everyone, it's RKarina here again! Let's discuss and devise a strategy for the new day! The EUR/USD has gained momentum, pushing prices higher and creating an opportunity for a potential test of the psychological barrier at 1.1000. Increased selling pressure on the Greenback following the Non-Farm Payrolls report for February has provided this currency pair with additional upward potential. Currently, the EUR/USD is facing resistance at 1.098, but technical indicators and prospects still lean towards an upward movement. The level of 1.0960 (the Fibonacci retracement level of 61.8% of the latest downward trend) is considered the first resistance level for EUR/USD before reaching 1.1000 (psychological level) and 1.1035.
Long
by RKarina