Today
+0.40%
5 Days
+1.01%
1 Month
-0.14%
6 Months
-4.12%
Year to Date
-4.33%
1 Year
-2.46%
Opening Price
1.119Previous Closing Price
1.119
The downside prevails as long as 1.1201 is resistance, with 1.1151 and 1.1139 as targets
above 1.1201, look for 1.1221 and 1.1233.
The downside prevails as long as 1.1201 is resistance, with 1.1151 and 1.1139 as targets
Scotiabank’s FX team reports the Euro slightly lower versus the Dollar, as ECB officials keep a hawkish stance with December tightening still priced. Despite softer Oil, European energy concerns persist.
The US Dollar (USD) has navigated a vacillating range on Tuesday, broadly in line with the rest of the FX galaxy, in a context of steady caution ahead of the US Midterm elections, upcoming key US data releases and steady uncertainty surrounding the Middle East crisis.
On Tuesday, Olaf Sleijpen, President of De Nederlandsche Bank and a member of the European Central Bank (ECB) Governing Council, said that “the Iran shock is more persistent than earlier thought,” but noted that the central bank is not seeing “second-round effects yet.”
On Tuesday, the President of the Bundesbank and Governing Council member of the European Central Bank (ECB), Joachim Nagel, said that an ECB rate increase in December “is very likely to be necessary.”
Commerzbank notes that European gas (TTF) prices fell by up to 10% yesterday, from EUR 104 to EUR 93.5 per MWh, as hopes for a diplomatic resolution to the Iran conflict reduced the geopolitical risk premium. However, renewed US strikes on Iran have since pushed prices back toward EUR 100.
EUR/USD trades little changed on Tuesday amid a cautious market mood as traders watch the US midterm elections. US-Iran developments also remain in focus, leaving the US Dollar (USD) without a clear direction.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
This feature includes nine of the commonly used technical indicators: MACD, RSI, KDJ, StochRSI, ATR, CCI, WR, TRIX and MA. You may also adjust the timeframe depending on your needs.
Please note that technical analysis is only part of investment reference, and there is no absolute standard for using numerical values to assess direction. The results are for reference only, and we are not responsible for the accuracy of the indicator calculations and summaries.