EUR/USD Analysis Summary Today
- General Trend: Strongly Upward.
- Support Points for EUR/USD Today: 1.1365 – 1.1300 – 1.1245, Respectively.
- Resistance Points for EUR/USD Today: 1.1445 – 1.1520 – 1.1600, Respectively.
- Today's Euro Trading Signals: Sell the EUR/USD pair from the resistance level of 1.1485, with a target of 1.1290 and a stop loss of 1.1565.
The bulls successfully propelled the EUR/USD currency pair, settling above the 1.1400 resistance to adopt a bullish stance ahead of the European Central Bank's monetary policy decisions later today, Thursday. The interest rate decision will be announced at 14:15 Egypt time. Simultaneously, the Bank's policy statement will be released, and ECB President Lagarde's press conference will be at 14:45 Egypt time. A quarter of an hour before that, the US weekly jobless claims, the Philadelphia Fed Manufacturing Index, and US housing figures will be announced.
Ahead of these important and influential events, the EUR/USD pair is holding near a six-month high, amid a general upward shift in the trend since the beginning of trading this month, amid the US dollar's decline against other major currencies, amid selling pressure on the US currency after Trump imposed further US tariffs against major global economies, including the eurozone.
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Trading Tips:
Dear TradersUp website follower, be cautious; the Euro Dollar losing further positive momentum could trigger strong profit-taking sell operations at any time.
EUR/USD Technical Analysis Today:
Dear reader, according to the EUR/USD path on the daily chart, the overall trend remains bullish, and breaking the 1.1420 resistance may motivate the bulls to move towards the next peak at 1.1500, which in turn will confirm the movement of momentum indicators towards the overbought zone after its recent gains. This will be evident in the direction of the 14-day RSI, the MACD, and the 50 and 100-day moving averages, which confirm the strength of the bullish reversal.
Therefore, we do not recommend buying EUR/USD without confirming that the Euro has gained further positive momentum.
The US Federal Reserve is Concerned About Trump's Policies
During a speech at the Economic Club of Chicago, US Federal Reserve Governor Jerome Powell stated that the US economy and labor market remain "solid" for now, but warned that increasing economic risks stemming from the Trump administration's trade policies could begin to put monetary policy in a "difficult" position. Speaking after a turbulent period in financial markets caused by Trump's campaign of reciprocal tariffs and his aggressive trade stance towards China, Powell said that tariffs could cause "higher inflation and slower growth."
In such a "difficult scenario," the Federal Reserve would have to make a "likely difficult judgment" after considering how far the economy is from its "maximum employment" goal and its 2% inflation target, and how long it would take to achieve those goals. Notably, there was no repetition of his previous statements that the Federal Reserve needs to "be patient" in adjusting US interest rates, as he discussed the dilemmas of monetary policy three weeks before the upcoming meeting of the Federal Open Market Committee (FOMC), which is responsible for policymaking at the Federal Reserve.
Today's Signals and Forecasts:
Bullish Scenario: As mentioned earlier, stability above the 1.1400 resistance will continue to be a catalyst for a bullish EUR/USD scenario in the coming days. The next upward targets will be 1.1475 and 1.1550 respectively, which are areas that provide further momentum for the strength of the bulls' control.
Bearish Scenario: As per the performance on the daily timeframe chart, a move by the EUR/USD price below the 1.1180 support level will be significant for the strength of the bears' control and a threat to the current bullish reversal of the EUR/USD trend. we still prefer selling the currency pair from every upward level, but without risk and maintaining a risk management policy to avoid sudden market fluctuations.
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