Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
James Hyerczyk

The Euro is trading slightly better shortly after the opening in Europe. An easing of tensions between Italy and the European Union is helping to generate some support. The dollar is under pressure because of a drop in U.S. Treasury yields. Later today, investors will get the opportunity to react to the latest report on U.S. Producer Inflation.

At 0625 GMT, the EUR/USD is trading 1.1501, up 0.0009 or +0.08%.

Know where EUR/USD is headed? Take advantage now with 

75% of retail CFD investors lose money


Daily Swing Chart Analysis

The main trend is down according to the daily swing chart. The main trend changes to up on a trade through 1.1816. A move through 1.1432 will signal a resumption of the downtrend. The next target under this main bottom is 1.1301.

The minor trend is also down. Today’s early price action made 1.1432 a new minor bottom. A trade through this level will reaffirm the trend.

A trade through 1.1549 will change the minor trend to up. This will also shift momentum to the upside. The next minor top target is 1.1596.

The main range is 1.1301 to 1.1816. Its retracement zone at 1.1559 to 1.1498 is currently being tested. This zone is controlling the near-term direction of the EUR/USD.

If a main bottom develops between 1.1816 and 1.1432 then its retracement zone at 1.1624 to 1.1669 becomes the primary upside target.

Suggested Articles


Daily Swing Chart Forecast

Based on the early price action, the direction of the EUR/USD on Wednesday is likely to be determined by trader reaction to the main Fibonacci level at 1.1498.

A sustained move over 1.1498 will signal the presence of buyers. If this move can create enough upside momentum then look for a potential move into 1.1549 to 1.1559. Since the trend is down, sellers could come in on a test of this level.

Taking out 1.1559 could trigger an acceleration to the upside with targets at 1.1596 and 1.1624.

A sustained move under 1.1498 will signal the presence of sellers. If this move creates enough downside momentum then look for a retest of 1.1432. This is a potential trigger point for a steep sell-off with 1.1301 the next target.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.