EUR/USD cuts gains and returns to the 1.0400 zone

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  • The euro loses strength throughout the market in the last hour.
  • The dollar remains weak after the Fed minutes.
  • EUR/USD falls back reaching levels below 1.0400.

EUR/USD pulled back more than 50 pips from the 1.0448 peak and fell to 1.0391, before returning to the 1.0405 area. After reaching new day highs, buoyed by dollar weakness, the euro lost momentum and retraced much of Thursday’s gains, although it remains nearly a hundred pips above where it traded 24 hours ago.

Going up the dollar…

EUR/USD is trying to get the third daily rise in a row. Behind the advance is the decline in the dollar, which was affected by the minutes of the Federal Reserve, which had a less harsh tone. The central bank is on its way to raising interest rates again, albeit more moderately. This growing expectation has been behind the declines in the dollar and the recovery in Treasury bonds.

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Thursday will be a holiday in the US and on Friday there will be limited operations due to Thanksgiving Day. This will take volume away from trades. The futures of Wall Street They operate positive.

…. going down the euro

EUR/USD’s decline in recent hours was trailed by a general decline in the euro, which pared gains against the Swiss franc and hit a three-week low against sterling.

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In Europe, an improvement was reported in the Ifo economic sentiment survey in Germany. Although after the bundesbank issued a warning indicating that the financial environment has deteriorated substantially.

The economic calendar shows ahead speeches by officials of the European Central Bank, in addition to the report of the monetary policy meeting.

technical levels

EUR/USD

Panorama
Last Price Today 1.0402
Today’s Daily Change 0.0000
Today’s Daily Change % 0.00
Today’s Daily Open 1.0402
Trends
20 Daily SMA 1,013
SMA of 50 Daily 0.9948
SMA of 100 Daily 1.0026
SMA of 200 Daily 1.0398
levels
Previous Daily High 1.0405
Minimum Previous Daily 1.0296
Previous Weekly High 1.0482
Previous Weekly Minimum 1.0272
Maximum Prior Monthly 1.0094
Minimum Prior Monthly 0.9632
Daily Fibonacci 38.2% 1.0364
Daily Fibonacci 61.8% 1.0338
Daily Pivot Point S1 1.0331
Daily Pivot Point S2 1,026
Daily Pivot Point S3 1.0222
Daily Pivot Point R1 1,044
Daily Pivot Point R2 1.0476
Daily Pivot Point R3 1.0548

Source: Fx Street

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