Beginners

Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Forex

EUR/USD: Rising wedge on the charts – OCBC

Source Fxstreet

Euro (EUR) fell on softer than expected French CPI, signs of progress on EU-US trade talks and broad US Dollar (USD) short covering. Pair was last at 1.1321, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Daily momentum is not showing a clear bias

"EU Trade Commissioner Sefcovic said he has a 'good call' with US Secretary of Commerce Lutnick. Earlier, French President Macron said European Commission Ursula and Trump had a 'good exchange'. Trump himself also said it was 'a very nice call', and the delay on tariff imposition would allow for the 2 sides to work on a deal."

"EUR’s move lower was in line with our caution for the risk of a pullback in the near term. Daily momentum is not showing a clear bias now while RSI fell from near overbought conditions. On price action, rising wedge pattern may be forming. This can be associated with a bearish reversal."

"We continue to watch price action. Support at 1.1280 (21 DMA), 1.1235 (23.6% fibo retracement of 2025 low to high) and 1.1150 (50 DMA). Resistance at 1.1420/30 levels. Decisive break puts next resistance at 1.1570 (recent high). Failing which, the pair may revert to trading recent range. Day brings 1y, 3y inflation expectations."

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Gold Price Forecast: XAU/USD retreats further from all-time highs of $3,245 Gold price is back in the red early Monday, snapping a three-day record rally to lifetime highs of $3,245 set on Friday.

Author FXStreet

4 Month 14 Day Mon

Gold price is back in the red early Monday, snapping a three-day record rally to lifetime highs of $3,245 set on Friday.

Bitcoin Must Clear This Critical Cost Basis Level For Continued Upside, Analyst Says In a recent CryptoQuant Quicktake post, contributor Crazzyblockk highlighted key Bitcoin (BTC) cost basis zones that the leading cryptocurrency must clear – or avoid breaking below – to

Author NewsBTC

4 Month 23 Day Wed

In a recent CryptoQuant Quicktake post, contributor Crazzyblockk highlighted key Bitcoin (BTC) cost basis zones that the leading cryptocurrency must clear – or avoid breaking below – to

BNB Price Finds Its Footing — Can Bulls Ignite the Next Leg Up?BNB price is consolidating above the $640 support zone. The price is now showing positive signs and might aim for more gains in the near term. BNB price is attempting to recover from the $640 support

Author FXStreet

5 Month 16 Day Fri

BNB price is consolidating above the $640 support zone. The price is now showing positive signs and might aim for more gains in the near term. BNB price is attempting to recover from the $640 support

Ethereum Price Rally Alert: ETH Starts Its Climb Toward $3K Milestone Ethereum price found support at $2,500 and started a fresh increase. ETH is now rising and might aim for a move above the $2,750 resistance zone. Ethereum started a decent increase above the $2,550

Author NewsBTC

5 Month 23 Day Fri

Ethereum price found support at $2,500 and started a fresh increase. ETH is now rising and might aim for a move above the $2,750 resistance zone. Ethereum started a decent increase above the $2,550

US Dollar Index Price Forecast: Hovers around 99.00, with a persistent bearish bias The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is retracing its recent losses from the previous session. The DXY is trading around 98.80 during the Asian hours on Tuesday.

Author FXStreet

5 Month 27 Day Tue

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is retracing its recent losses from the previous session. The DXY is trading around 98.80 during the Asian hours on Tuesday.

Related Instrument