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TODAY EURUSD SIGNAL : EURUSD Reverses Early Gains, Aims For 1.0800

TODAY EURUSD SIGNAL

TODAY EURUSD SIGNAL : EURUSD Reverses Early Gains, Aims For 1.0800

TODAY EURUSD SIGNAL : The EURUSD pair failed to secure early intraday gains and finished Thursday lower as hawkish comments from Fed Chair Jerome Powell lifted Treasury yields and the greenback during the American afternoon.

The shared currency had risen on the back of comments from European Central Bank Vice President Luis de Guindos, who hinted at the possibility of a first rate hike in July.

However, ECB President Christine Lagarde couldn’t live up to expectations at an IMF panel in Washington. She said inflation must be addressed “in a gradual way,” which, in contrast with Powell’s comments, sent EUR/USD back below 1.0850.

This triggered a selloff in stocks and a jump in U.S. yields.

As for the EUR/USD, the pair maintains the short-term negative perspective, according to technical indicators in the daily chart. The price failed to consolidate above the 20-day SMA, all of which favor a downward move.

The RSI and the MACD remain in bears territory, although turning flat, reflecting the dwindling selling momentum.

TODAY EURUSD SIGNAL : The EUR/USD would need a break below the 1.0800 to bring the bearish momentum back and expose YTD lows at 1.0757 ahead of the 1.0700 psychological level and March 2020 low of 1.0635.

On the other hand, immediate resistance remains at the 20-day SMA, around 1.0916, followed by 1.0940 and then the 1.1000 level.

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FIRST CAPITALS brand is authorized and regulated in various jurisdictions.

First Capitals Limited (www.First Capitals.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475.

First Capitals (www.First Capitals.com/uk) is authorised and regulated by the Financial Conduct Authority with license number 777911.

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Card transactions are processed via FT Global Services Ltd, Reg No. HE 335426 and registered address at Ioannis Stylianou, 6, Floor 2, Flat 202 2003, Nicosia, Cyprus, and via Exinity Services Ltd , Reg No. HE 400404 and registered address at Agiou Georgiou Makri, 64, Anna Maria Lena Court, Flat 201, 6037, Larnaca, Cyprus. Address for cardholder correspondence: backoffice@First Capitals.com.. Business location address: FIRST CAPITALS Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus.

Exinity Limited is a member of Financial Commission, an international organization engaged in a resolution of disputes within the financial services industry in the Forex market.

Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FIRST CAPITALS brand based on the legal requirements in his/her country of residence.  Please read FIRST CAPITALS’s full Risk Disclosure.

Regional restrictions: FIRST CAPITALS brand does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus and Hong Kong. Find out more in the Regulations section of our FAQs.

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