The EUR/USD pair halted its four-day losing streak, trading near 1.0270 during the Asian session on Friday. A review of the daily chart shows a persistent bearish bias, with the pair moving down within a descending channel pattern.
The 14-day Relative Strength Index (RSI), a key momentum indicator, is hovering near the 30 level, indicating oversold conditions and a possible upside correction in the near term. However, the nine-day Exponential Moving Average (EMA) remains below the 14-day EMA, signaling weaker near-term price momentum and reinforcing the overall bearish sentiment.
The EUR/USD pair could find key resistance levels around the nine-day Exponential Moving Average (EMA) at 1.0350, followed by the 14-day EMA at 1.0379. If the pair breaks through this level, it could reach the upper boundary of the descending channel at 1.0470, with further upside potentially extending to a seven-week high of 1.0630.
On the downside, the EUR/USD pair could hover around the psychological support level of 1.0000, followed by the lower boundary of the descending channel at 0.9970. A decisive break below 0.9970 could intensify the bearish bias, potentially pushing the pair further down to test 0.9730, the lowest level seen since November 2022.
Source: FXStreet
EUR/USD loses ground for the sixth consecutive day on Wednesday, trading below 1.1730 after peaking above 1.1800 last week. The pair struggles amid a moderate US Dollar (USD) rebound following the rel...
The EUR/USD pair moved steadily around 1.1750 during Wednesday's Asian session. Its movement appeared to be holding up after a sharp drop the previous day from its highest level since September 24th. ...
The euro rebounded above $1.16, reaching its strongest level since mid-November, as investors adopted a cautious stance ahead of key Eurozone and US economic data that could influence interest rate ex...
The EUR/USD pair traded flat on Thursday, trading around 1.1596, as market liquidity thinned during the US Thanksgiving holiday. Despite the limited movement, pressure on the US dollar remained as exp...
EUR/USD posts moderate losses during the North American session on Friday as the US Dollar (USD) holds firm after the release of mixed economic data and dovish comments by Federal Reserve (Fed) offici...
Gold price rises on Friday, poised to end with weekly gains of nearly 4% as an employment report in the US was mixed, with the economy adding fewer jobs than projected. Still, the Unemployment Rate ticked lower, yet investors are still betting the...
Harga emas kembali menguat pada perdagangan terbaru setelah sempat tertekan, didorong oleh melemahnya dolar AS dan turunnya imbal hasil obligasi pemerintah AS. Investor kembali memburu emas sebagai aset lindung nilai di tengah ketidakpastian arah...
Silver is currently hovering around $77,430, likely awaiting triggers from the US dollar and yields. If the dollar strengthens, silver is usually resilient; if the dollar weakens, silver rises more easily.Fundamentals are still supported by safe...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next...
The US seized two Venezuela-linked oil tankers in the Atlantic Ocean on Wednesday, one of which was sailing under a Russian flag, as part of...
Federal Reserve Vice Chair for Supervision Michelle Bowman outlined significant changes to bank supervision and regulation during a speech at the...
Asian stock markets weakened for the second consecutive day, indicating that the initial rally that had been "speedy" at the start of the year is...