EUR/USD edges higher on Wednesday after European Central Bank (ECB) Executive Board member Piero Cipollone said that there was room to cut interest rates swiftly despite elevated wage inflation.
EUR/USD resumesits short-term downtrend, perhaps due to diverging commentary from central bankers. ECB officials are coming across as more dovish than their Federal Reserve peers. EUR/USD edges loweron Wednesday on the back of diverging commentary from rate-setters at the US Federal Reserve and European Central Bank . Commentary from ECB officials is now indicating a high likelihood it will cut interest rates in June, whilst a delay from the Fed is still possible.
0860s and plunged back down, falling in line with the dominant short-term downtrend. Euro versus US Dollar: 4-hour chart A decisive break below the B-wave lows at roughly 1.0795 would signal a continuation of the downtrend to the next target at 1.0750 – then the February lows at roughly 1.0700. A decisive break is one characterized by a long red bearish candle that breaks cleanly through the level and closes near its low, or three down candles in a row that breach the level.
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EUR/USD IG Client Sentiment: Our data shows traders are now net-long EUR/USD for the first time since Mar 06, 2024 03:00 GMT when EUR/USD traded near 1.09.Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/USD-bearish contrarian trading bias.
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EUR/USD edges high amid soft US Dollar, central bank speculationsThe EUR/USD registered solid gains of 0.19% on Wednesday, courtesy of a softer US Dollar amidst high US Treasury bond yields.
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EUR/USD Forecast: Limited bullish potential ahead of central banks’ frenzyThe EUR/USD pair trades uneventfully around the 1.0900 mark, up roughly 20 pips in the day.
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EUR/USD Forecast: US Dollar surges after the first round of central banks’ decisionsThe EUR/USD pair fell to 1.0834 on Tuesday as the US Dollar gathered momentum following a busy Asian session.
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EUR/USD tests 200-day average with key Central bank speakers waiting in the wingsEUR/USD is trading a quarter of a percent down on Friday, in the lower 1.0800s just below the 200-day Simple Moving Average (SMA).
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EUR/USD Weekly Forecast: Central banks paving the way for June rate cutsThe EUR/USD pair surged to 1.0981, its highest in almost two months, on Friday, ending the week at around 1.0950.
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