EUR/USD: Downside bias on the daily charts – OCBC
Source Fxstreet
The Euro (EUR) rebounded overnight but continued to trade near recent lows. Pair was last seen at 1.0780 levels, OCBC’ FX analysts Frances Cheung and Christopher Wong note.
Momentum turns flat
“EUR rebounded overnight but continued to trade near recent lows, weighed by fresh concerns of political uncertainty in Germany (Chancellor Scholz dismissed Finance Minister and called for confidence vote on 15 Jan) and ongoing concerns of Trump win on European security and exports to US (due to potential tariffs).”
“Momentum turned flat while RSI fell. Risks remain skewed to the downside. Next support at 1.0660/70 levels. Resistance at 1.0740 (76.4% fibo), 1.0830 (61.8% fibo retracement of 2024 low to high).”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The U.S. Bureau of Labor Statistics will release the August Producer Price Index (PPI) at 8:30 a.m. ET on September 10. Against the backdrop of U.S. August non-farm payrolls significantly
On September 9, Brent crude futures broke above $100 per barrel intraday, crossing this threshold for the first time since July 24. As the military conflict between the US and Iran contin
US dollar clings to nine-week lows near 98.4 as Brent nears $100 and the yen hits a seven-month high — five events to watch todayThe dollar is pinned near nine-week lows even after a blockbuster jobs report, as an oil spike toward $100, a surging yen and China's reflation data crowd the driver's seat. Five key events to watch today: Brent at $99.46, USD/JPY at 154, China CPI/PPI, PBOC gold buying, and Thursday's PPI / Friday's CPI ahead of the September 15-16 FOMC.
The dollar is pinned near nine-week lows even after a blockbuster jobs report, as an oil spike toward $100, a surging yen and China's reflation data crowd the driver's seat. Five key events to watch today: Brent at $99.46, USD/JPY at 154, China CPI/PPI, PBOC gold buying, and Thursday's PPI / Friday's CPI ahead of the September 15-16 FOMC.
Today’s Market Recap: Oil Nears $100, US Stocks Fall, AI Chip Stocks Buck Trend as Intel Surges Over 9%Tracking Market TrendsTradingKey - On September 8 Eastern Time, the three major U.S. stock indices closed lower across the board, with the Dow falling by more than 1%. Further escalation in the Middle
Tracking Market TrendsTradingKey - On September 8 Eastern Time, the three major U.S. stock indices closed lower across the board, with the Dow falling by more than 1%. Further escalation in the Middle
Gold slumps to near $4,350 amid oil-driven inflation fears, US inflation data in focusGold price (XAU/USD) falls to near $4,350 during the early Asian session on Wednesday. The precious metal faces some selling pressure as rising oil prices fueled inflation concerns and boosted expectations for a rate hike by the Federal Reserve (Fed) in September.
Gold price (XAU/USD) falls to near $4,350 during the early Asian session on Wednesday. The precious metal faces some selling pressure as rising oil prices fueled inflation concerns and boosted expectations for a rate hike by the Federal Reserve (Fed) in September.
Related Instrument
