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The euro is suspended when markets sum up the results before Fed Chairman Powell. Will EUR / USD see new lows?


EURO, EUR / USD, US dollar, crude oil, OPEC +, RBA, AUD – opinions

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The euro has seen small gains as well US Dollar today declined at the Asian trading session.

Soft lead from Wall Street little has been done today to contain APAC shares. North American stock exchanges were rated surprisingly low New York empire state production a survey on the general conditions of doing business.

U.S. Treasury bonds after the 2-year remain stable, but the yield on the 1-year banknote is again rising above 2%. Gold remained solid, trading at about $ 1,825 an ounce.

The focus later today will be on Fed Chairman Jerome Powell, who is expected to make comments. Last Thursday, he supported the view that the next is likely to increase by 50 bp Federal Open Market Committee (FOMC) meeting.

Butter maintained the achievements achieved overnight after OPEC + said there was not much spare capacity to increase current gasoline production. Both WTI and Brent crude oil futures contracts are traded for about $ 114.

The minutes of the RBA meeting were released today and showed that they considered an increase of 15 basis points (bp) or 40 bp before agreeing to an increase of 25 bp. at his meeting 2 weeks ago.

The Australian Dollar added a little to previous achievements in the news and Kiwi was also firmer. US Dollar and Japanese yen that day were softer

After data on jobs in the UK and GDP in the eurozone, the US will see some retail sales figures.

The full economic calendar can be viewed here.

EUR / USD Technical analysis

EUR / USD rebounded from last Thursday’s 1.0349 low, which was slightly above the January 2017 oversight of 1.0340. These levels can be supportive.

At the top, the closest resistance could be a breakout point of 1.0472 or a 10-day simple moving average (SMA), which is currently understood at a historical level of 1.0494.

Further up breakout points at 1.0638, 1.0727 and 1.0758 may offer areas of resistance.

All 10-, 21-, 34-, 55-, 100- and 200-day SMAs lie above price and have negative gradients. This may indicate that the bearish momentum remains intact.

Diagram cpublished in TradingView

— Written by Daniel McCarthy, strategist for DailyFX.com

To contact Daniel, use the comments section below or @DanMcCathyFX on Twitter


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