Forex Review Online
No Result
View All Result
  • Home
  • Crypto
  • Education
  • News
start trading today
  • Home
  • Crypto
  • Education
  • News
No Result
View All Result
Forex Review Online
No Result
View All Result
Home ANALYSIS

EUR/USD not much changed amid narrow range so far on the day

A.R Chowdhury by A.R Chowdhury
August 24, 2021
Reading Time: 2 mins read
0

EUR/USD keeps within a 14 pips range so far today

The pair is little changed and so is the dollar, with only commodity currencies showing any poise to move in European morning trade.

EUR/USD H1 24-08

EUR/USD is trading within a range of 1.1734 and 1.1748 currently as there isn’t much to work with besides calmer risk tones, which is pretty much an extension of yesterday’s conviction in the market.

European indices are keeping slight gains while 10-year Treasury yields are up just 0.8 bps to 1.263% on the session.

Going back to the EUR/USD chart above, buyers are in near-term control upon a push above the key hourly moving averages but any upside momentum remains unconvincing.

I’d say there needs to be a turn above 1.1800 to really get any fresh upside leg in the pair but even then, the 30 July high at around 1.1900 adds another key resistance point.

From a fundamental perspective, the euro area economy is still trying to hold on to the summer optimism going into the latter stages of Q3 but the momentum is fading alongside the outlook as delta variant concerns weigh.

The same can be said for the US but with the tiebreaker being the ECB-Fed policy divergence, it’s hard to imagine EUR/USD sustaining any major upside in the medium-to-long term as long as the Fed stays on course to taper by year-end or early next year.

Invest in yourself. See our forex education hub.

Source link

RELATED POSTS

EURGBP erases gains and returns to a familiar bias defining level

New highs for US stocks. The Nasdaq continues to lead

USDJPY has 3 key technical levels that have stalled the rally higher today

ShareTweetPin
A.R Chowdhury

A.R Chowdhury

Related Posts

EURGBP erases gains and returns to a familiar bias defining level
ANALYSIS

EURGBP erases gains and returns to a familiar bias defining level

August 14, 2022
New highs for US stocks. The Nasdaq continues to lead
ANALYSIS

New highs for US stocks. The Nasdaq continues to lead

August 14, 2022
USDJPY has 3 key technical levels that have stalled the rally higher today
ANALYSIS

USDJPY has 3 key technical levels that have stalled the rally higher today

August 14, 2022
WTI crude oil futures settle at $92.09
ANALYSIS

WTI crude oil futures settle at $92.09

August 14, 2022
Bitcoin technical analysis, bulls might be giving up soon
ANALYSIS

Bitcoin technical analysis, bulls might be giving up soon

August 14, 2022
The weekend forex technical report for the week of August 15, 2022
ANALYSIS

The weekend forex technical report for the week of August 15, 2022

August 14, 2022
Next Post

NZD/USD looking for a move back towards 0.7000 again?

USDJPY's to a new session low and cracks back below its 100 day MA

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

US stocks dip to new session lows

July 23, 2020
Yields continue their move lower

Yields continue their move lower

February 28, 2022
USDJPY retests – moves above – the high for the day

USDJPY retests – moves above – the high for the day

March 11, 2022

Popular Stories

  • The USD is the strongest and the NZD is the weakest as the NA session begins

    0 shares
    Share 0 Tweet 0
  • New highs for US stocks. The Nasdaq continues to lead

    0 shares
    Share 0 Tweet 0
  • EURGBP erases gains and returns to a familiar bias defining level

    0 shares
    Share 0 Tweet 0
  • What is forex and How does it work?

    0 shares
    Share 0 Tweet 0
  • What is CFD trading?

    0 shares
    Share 0 Tweet 0
Forex Review Online

© 2022 My Forex Review - Designed with Jnews Theme.

Navigate Site

  • Home
  • Crypto
  • Education
  • News

Follow Us

No Result
View All Result
  • Home
  • Crypto
  • Education
  • News

© 2022 My Forex Review - Designed with Jnews Theme.