- Euro/US dollar collects force to nearly 1.0815 in the Asian session on Monday.
- The construction of the pair prevails over the EMA key for 100 days with the bullish RSI index.
- The instant resistance level appears at 1.0955; The negative goal of watching is 1.0775.
The EUR/USD pair leads to about 1.0815, where he picked up the three -day loss chain during the early Asian session on Monday. Fears about the economic slowdown in the United States through commercial policies during the era of US President Donald Trump proves the US dollar (USD) and the creation of the rear wind of EUR/USD. Traders will take more signals from the initial reading managers index (PMI) in March from the eurozone, Germany, and the United States, which is scheduled to be later on Monday.
Technically, the positive view of the EUR/USD pair remains in playing as the price is well supported higher than the 100 -day SIA moving average (EMA) on the daily chart. The bullish momentum is strengthened by the 14 -day relative index (RSI), which stands over the midfield near 59.35, and the bullish momentum appears in the near term.
The first bullish goal of the cross appears at 1.0955, which is the height of March 18. The extended gains can be seen massively to the psychological level 1.1000. The additional up -to -width trend filter is 1.1111, the upper boundaries of the Bollengerer.
On the other hand, a decrease of March 7 at 1.0775 works as a preliminary support level for the main husband. The main dispute level is located in the 1.0605-1.0600 region, and it represents EMA for 100 days and round shape. Continuous trading can witness a lower -level decrease to 1.0418, which is the lowest level on February 20.
The euro graph/US dollar
Common questions euro
The euro is the currency of the 19 European Union countries belonging to the eurozone. It is the second most traded currency in the world behind the US dollar. In 2022, it represented 31 % of all foreign exchange transactions, with an average daily rotation of more than $ 2.2 trillion per day. EUR/USD is the most trading currency pair in the world, which represents an estimated 30 % of all transactions, followed by EUR/JPY (4 %), EUR/GBP (3 %) and EUR/AUD (2 %).
The European Central Bank (ECB) in Frankfurt, Germany, is the backup bank. The European Central Bank sets interest rates and runs monetary policy. The primary mandate in the European Central Bank is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary performance is to raise or reduce interest rates. Relatively high interest rates – or expect higher rates – usually benefit from the euro and vice versa. The Board of Directors of the European Central Bank is making monetary policy decisions at eight times a year. Decisions are made by the heads of national banks in the eurozone and six permanent members, including the President of the European Central Bank, Christine Lagarde.
The inflation data in the euro area, measured by a coordinated index of consumer prices (HICP), is an important economist for the euro. If inflation increases more than expected, especially if it is 2 % higher than the European Central Bank’s goal, then the European Central Bank is obliged to raise interest rates to return it in control. Relatively high interest rates usually benefit compared to its euro counterparts, as it makes the region more attractive as a place for global investors to stop their money.
Data ejaculates a measurement of economics health and can affect the euro. Indicators such as GDP, manufacturing, PMIS, employment services, and consumer morale surveys can affect the trend of uniform currency. The strong economy is useful for the euro. Not only is to attract more foreign investment, but the European Central Bank may encourage interest rates, which will enhance the euro directly. Otherwise, if economic data is weak, the euro is likely to decrease. Economic data of the four economies in the eurozone (Germany, France, Italy and Spain) are of particular importance, because it represents 75 % of the eurozone economy.
Other important version of the euro is the commercial balance. This indicator measures the difference between what a country gains from its exports and what it spends on imports during a certain period. If a country produces very absolute after exports, its currency will obtain a purely value of the additional demand created from foreign buyers who seek to buy these goods. Therefore, the positive and positive trade balance enhances the currency and vice versa to achieve a negative balance.
Source: https://www.fxstreet.com/news/eur-usd-price-forecast-gathers-tregrength-abave-10800-bulish-ip-remains-202503240455