empty
31.12.2024 04:56 PM
EUR/USD. Analysis and Forecast

This image is no longer relevant

Today, the EUR/USD pair is attempting to recover its recent losses from the previous session, trading around 1.0420.However, it remains within a descending channel despite efforts to improve the situation.

The key momentum indicator, RSI (14-day Relative Strength Index), remains below the 50 level, confirming the bearish trend for the EUR/USD pair. Furthermore, the 9-day Exponential Moving Average (EMA) is below the 14-day EMA, indicating weak short-term price momentum.

On the other hand, the two-year low at 1.0332, recorded on November 22, serves as the primary support for the EUR/USD pair. A successful break below this level would reinforce bearish positions, exerting additional downward pressure on the pair.

Regarding resistance, the first hurdle for the EUR/USD pair is the 9-day EMA, which has already been tested, followed by the 14-day EMA. Breaking above these EMAs would bring the pair closer to the upper boundary of the descending channel at the 1.0500 level, and subsequently to the monthly high with some intermediate obstacles along the way.

The table below shows the percentage change of the euro against the listed major currencies for today.

This image is no longer relevant

The euro was strongest against the New Zealand dollar.

This image is no longer relevant

Irina Yanina,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USD/CAD. Analysis and Forecast

Today, the USD/CAD pair is showing signs of recovery, rising toward the 1.3700 level and approaching the weekly high reached earlier. Fundamental factors point to bullish dominance and the potential

Irina Yanina 12:46 2025-07-09 UTC+2

Markets unfazed by Trump's new tariff threats

Donald Trump's bark is louder than his bite. Markets have grown so accustomed to his rhetoric that the S&P 500 barely flinched at the White House's latest threat to slap

Marek Petkovich 11:53 2025-07-09 UTC+2

AUD/USD. Analysis and Forecast

The AUD/USD pair is holding steady at current levels with a bullish bias but limited movement following the release of inflation data from China—Australia's key trading partner. In June

Irina Yanina 11:35 2025-07-09 UTC+2

USD/JPY. Analysis and Forecast

On Wednesday, the Japanese yen extended its decline for the third consecutive day, pushing the USD/JPY pair to a new two-week high above the key 147.00 level during the Asian

Irina Yanina 11:23 2025-07-09 UTC+2

Consumer lending in the US is slowing down

According to data, consumer lending in the U.S. grew at its slowest pace in three months in May amid a decline in outstanding balances on credit cards and other revolving

Jakub Novak 10:43 2025-07-09 UTC+2

The ECB Is in a Good Position

While the euro remains under pressure against the dollar, risking a complete loss of its bullish momentum, one European policymaker believes the European Central Bank should not be overly concerned

Jakub Novak 10:33 2025-07-09 UTC+2

What to Watch on July 9th: Fundamental Events Breakdown for Beginners

There are no macroeconomic publications scheduled for Wednesday. The week began fairly actively, with both currency pairs declining, even though the fundamental backdrop rather points to another decline

Paolo Greco 08:57 2025-07-09 UTC+2

GBP/USD Overview on July 9, 2025

The GBP/USD pair continued its downward movement on Tuesday, which continues to puzzle observers. As we've repeatedly noted, no instrument in any market can move in the same direction indefinitely

Paolo Greco 08:18 2025-07-09 UTC+2

EUR/USD Overview on July 9, 2025

The EUR/USD currency pair maintained a corrective tone throughout Tuesday. There were no macroeconomic events that day, but Donald Trump "listed" all the countries for which tariffs will be raised

Paolo Greco 07:47 2025-07-09 UTC+2

XAU/USD. Analysis and Forecast

Today, gold remains under pressure; however, several factors are limiting further decline. Expectations that the tariffs imposed by U.S. President Donald Trump will support inflation in the United States

Irina Yanina 19:23 2025-07-08 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.