Eur Usd Starts To Resume The Downtrend Despite Weaker Cb Consumer

Eur Usd Starts To Resume The Downtrend Despite Weaker Cb Consumer Despite a recent minor uptick in the euro's value, the exchange rate between the two currencies, denoted as eur usd, has lingered at historically low levels, hovering just below 1.08 as of 14 may. Eur usd is holding gains above 1.1100 in the european session on wednesday. a broadly weak us dollar, amid increased bets of an outsized fed rate cut and a cautiously optimistic market mood.

Eur Usd Forecast Us Dollar To Hold Firm Into Us Elections Downtrend The recent rebound in the eur usd currency pair appears likely to be nothing more than a temporary correction within the ongoing downtrend that began in mid july as, longer term, the fundamental. The euro (eur) has remained in a narrow trading range against the us dollar (usd) for much of 2023, with ubs analysts predicting that this trend may persist into the entire 2024. according to ubs. Moving on, us cb consumer confidence for december, expected at 101.00 versus 100.00 prior, could entertain the eur usd pair traders. however, significant attention will be given to the risk. Further eur usd advances likely face early resistance around the september high of 1.1189 (september 18), before reaching the 2024 top of 1.1201 (august 26) and the 2023 peak of 1.1275 (july 18).

Eur Usd Sellers Look To Resume Downtrend Tests 100 Hour Moving Average Moving on, us cb consumer confidence for december, expected at 101.00 versus 100.00 prior, could entertain the eur usd pair traders. however, significant attention will be given to the risk. Further eur usd advances likely face early resistance around the september high of 1.1189 (september 18), before reaching the 2024 top of 1.1201 (august 26) and the 2023 peak of 1.1275 (july 18). The trend on the eur usd currency pair on the hourly time frame is bearish. the price begins to form a flat accumulation. the resistance level at 1.0727 prevents the price from continuing the upward movement, although each subsequent bounce from the level is weaker than the previous one. Eur usd 4 hour chart. on the 4 hour setting below, eur usd appears to be carving out a near term rising trendline from earlier this month. this is as the 50 period sma has been acting as.

Eur Usd Technical Analysis Euro Down Trend Ready To Resume The trend on the eur usd currency pair on the hourly time frame is bearish. the price begins to form a flat accumulation. the resistance level at 1.0727 prevents the price from continuing the upward movement, although each subsequent bounce from the level is weaker than the previous one. Eur usd 4 hour chart. on the 4 hour setting below, eur usd appears to be carving out a near term rising trendline from earlier this month. this is as the 50 period sma has been acting as.