Forecast for EUR/USD on May 9, 2023
May 9, 2023 5:24 amVideo
Latest News
- Analysis of GBP/USD on April 26th. The pound trades on Friday without changes April 26, 2024
- USD/JPY: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- EUR/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: trading plan for the US session on April 26th (analysis of morning deals). The pound attempted, but it didn’t go April 26, 2024
- EUR/USD: trading plan for the US session on April 26th (analysis of morning deals). The euro continues to rise April 26, 2024
- Trading Signals for GOLD (XAU/USD) for April 26-29, 2024: buy above $2,324 and sell below $2,352 (21 SMA – 6/8 Murray) April 26, 2024
- Technical Analysis – AUDUSD set to complete best week of the year April 26, 2024
- Will Apple finally drop its AI hint? – Stock Markets April 26, 2024
- Bitcoin slips as markets pare back Fed rate cuts – Crypto News April 26, 2024
- EUR/USD. April 26th. Bulls continue to advance after the GDP report April 26, 2024
- Can Chinese PMIs solidify the economy’s recovery prospects? – Preview April 26, 2024
- Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- XM’s Lombok Collaboration: Brightening Futures April 26, 2024
- Week Ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- Market Comment – Yen keeps sinking after Bank of Japan decision April 26, 2024
- Fed faces dilemma amid sticky inflation and slowing economy – Preview April 26, 2024
- USD/JPY: trading tips for beginners for European session on April 26 April 26, 2024
- GBP/USD: trading tips for beginners for European session on April 26 April 26, 2024
- EUR/USD: trading tips for beginners for European session on April 26 April 26, 2024
EUR/USD
As of today, the euro clearly correlates with the yields of US government bonds, which are growing and pulling the single currency down. But for more reliable conditions for the euro’s medium-term decline, it lacks other correlating instruments – commodities or the stock market, which are still growing. Other counter-dollar currencies are also not in a hurry to reverse.
On the daily chart, the price is moving towards the important support of 1.0910, and consolidating below it may indicate a break in the uptrend from March 16th. The 1.0804 target will become available. The signal line of the Marlin oscillator is in negative territory – in the downtrend area. At the moment, the euro has not fallen deep enough to prevent it from reversing and working through the range of 1.1078-1.1110.
On the four-hour chart, the price has once again consolidated below the indicator lines, with Marlin in the area of the downtrend. If signals from related markets support the dollar, this time these technical signals will be effective.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: