Euro Technical Outlook: EUR/USD Bulls Regroup Ahead of ECB, CPI
EUR/USD is building on a rebound from trend support, with major event risk poised to test the strength of the recovery.
Share this:
Euro Technical Outlook: EUR/USD Multi-Timeframe Analysis
Euro dollar technical analysis across four time frames, where the recovery is holding and the level that would break the trend. Michael Boutros, StoneX Media Senior Market Analyst, walks through the euro dollar chart structure from the monthly down to the four hour time frame. The euro has posted a run of higher weekly closes and reclaimed its 52 week moving average, while the daily chart is still working on the 200 day moving average overhead. A European Central Bank rate decision lands first, followed by United States producer price and consumer price inflation data, the last major inputs before the Federal Reserve rate decision.
This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by FOREX.com.
Key Economic Data Releases
Economic Calendar - latest economic developments and upcoming event risk.
Active Short-term Technical Charts
- US Dollar Short-term Outlook: USD Selloff Accelerates Toward August Lows Ahead of NFP
- Swiss Franc Short-term Outlook: USD/CHF Breakout Puts Yearly Highs Back in Play
- Canadian Dollar Short-term Outlook: USD/CAD Recovery Reaches Downtrend Resistance
- Australian Dollar Short-term Outlook: AUD/USD Breakout Extends to 10-Week Highs
- British Pound Short-term Outlook: GBP/USD Bulls Confront Resistance at Three-Month Highs
- Gold Price Short-term Outlook: XAU/USD Breakout Faces a Defining Test
--- Written by Michael Boutros, Senior Technical Strategist
Follow Michael on X @MBForex
Latest market news
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 0.3 pts on indices.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
NZD/USD reversal case strengthens as Fed pricing cools
NZD/USD has triggered a bullish reversal after a punishing two-month decline, with less hawkish Fed pricing and an aggressive RBNZ rates path providing fuel for a rebound.
USD/CAD Knocked from Its Perch as US Dollar Rally Pauses for Breath
USD/CAD retreats from stretched highs as the US dollar rally cools, with softer yields, Canadian trade strength and crude oil in focus.
US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/JPY, USD/CAD, Gold
The US Dollar hit a fresh yearly high and is currently testing above a major level, but EUR/USD has already pushed into extreme territory and that begs the question around continuation potential in each market. Meanwhile, USD/JPY retains bullish short-term structure.
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.