1.138
Today
-0.16%
5 Days
-0.95%
1 Month
-2.36%
6 Months
-1.13%
Year to Date
-3.14%
1 Year
-2.73%
Opening Price
1.138Previous Closing Price
1.139
The downside prevails as long as 1.1396 is resistance, with 1.1354 and 1.1343 as targets
above 1.1396, look for 1.1414 and 1.1426.
The downside prevails as long as 1.1396 is resistance, with 1.1354 and 1.1343 as targets
EUR/USD trades on the back foot on Monday, pressured by a stronger US Dollar (USD) as the US-Iran stalemate keeps Oil prices elevated, pushing US Treasury yields higher and strengthening expectations of further Federal Reserve (Fed) rate hikes.
Kit Juckes at Societe Generale notes that EUR/USD forecasts have been repeatedly revised down as Dollar strength persists. While consensus has moved from 1.20 to 1.16 and Societe Generale now sees 1.15, client discussions suggest markets are even more Dollar-bullish.
The Euro (EUR) shows marginal losses against the US Dollar (USD) on Monday, as the rejection of the latest peace proposal in the Middle East lifted Oil prices, while the high US Treasury yields amid bets of upcoming Federal Reserve (Fed) rate hikes keep supporting the Greenback.
Societe Generale’s Kit Juckes argues that while the longer-term outlook for the Dollar is deteriorating due to US politics and changing global savings patterns, the short-term picture remains constructive.
ING FX Strategist Francesco Pesole argues EUR/USD should be trading above 1.140 based on their models, with recent Euro weakness seen as somewhat overdone. He focuses on September Eurozone inflation and ECB communication as key drivers.
HSBC sees the Euro facing mounting headwinds from both monetary policy and energy markets.
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.
