Russian-Ukraine conflict and U.S. inflation hold back EUR/USD
Hello everyone. Today, let's take a look at the EUR/USD pair!
The EUR/USD pair continues to face downward pressure as the U.S. inflation index came in higher than expected on Thursday, providing some support for the U.S. dollar and limiting the pair's upward momentum. This, combined with concerns over the European economic situation and the ongoing Russian-Ukraine conflict, has made the Euro less attractive. In the short term, EUR/USD could continue to decline if U.S. economic data remains positive.
Looking at the 4-hour chart, the pair is defending around the 1.093 level, still in a downtrend. Despite support at 1.090, the pair has been unable to break through the resistance at 1.099. The price of the pair is likely to reverse and move downward. At the same time, the EMA has also turned bearish, further reinforcing this analysis.
What about you? What do you think of this currency pair?
The EUR/USD pair continues to face downward pressure as the U.S. inflation index came in higher than expected on Thursday, providing some support for the U.S. dollar and limiting the pair's upward momentum. This, combined with concerns over the European economic situation and the ongoing Russian-Ukraine conflict, has made the Euro less attractive. In the short term, EUR/USD could continue to decline if U.S. economic data remains positive.
Looking at the 4-hour chart, the pair is defending around the 1.093 level, still in a downtrend. Despite support at 1.090, the pair has been unable to break through the resistance at 1.099. The price of the pair is likely to reverse and move downward. At the same time, the EMA has also turned bearish, further reinforcing this analysis.
What about you? What do you think of this currency pair?
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