Crypto Comeback Pro Trading Robot

EUR Still Pressurized Due to Extended Recovery of USD ahead of US NFP

The latest price chart for the EUR/USD pair shows that it is having a hard time and moving in the south direction. The euro is not able to hold its own against the USD for now.

USD’s Extended Recovery against the EUR

The USD is undergoing a significant rally and its value is experiencing an extended recovery against the EUR. The recovery of the USD however, is considered to be a risky situation for investors.

As the price of the USD is rising, there are high chances that it may move downwards after a certain period. But for now, it is overwhelming the EUR with its extended recovery.

USD to Hit 1.0200 Soon

At the time of writing, the USD is moving towards a strong recovery and so far, the EUR/USD pair is reaching 1.0200. It is expected that the overall value of the euro may take another hit due to the demise of the German economy.

German Economy Fears

It is expected that the German data may soon be shared, which may indicate uplifts in the inflation rates. This would greatly impact the overall economy in the European region.

For now, the investors are keeping a close eye on the data from Germany as it can be a very decisive factor in the value of the EUR. Germany has the fourth largest economy in the world.

If the German economy ends up taking a hit, then it will be another major factor pulling the value of the EUR.

Then there is the Nonfarm Payrolls data for the United States that is being eagerly awaited by the investors. It may also prove to be another factor that may push USD’s value higher compared to the EUR.

Downward movement of EUR

The price chart of the pair suggests that EUR/USD is set to move in the negative zone. It will move to the downside and move between a narrow range of 1.0243-1.0254.

For now, the pair has moved towards the correction level, which shows that it has settled at 1.0230 for now. For the time being, exhaustion is being recorded in terms of the positive momentum of the EUR.

DXY Looks Promising

It suggests that the pair may not visit and upside for some time. It was on Thursday when the DXY showed that the USD was at 105.70, which was the low side for the dollar.

The DXY is currently moving in the right direction for USD investors as the value of the greenback is rising. Fully employment levels are being maintained by the US economy, which is a positive factor going in favor of the USD.

If things keep going in favor of the USD, then the trading value of the EUR/USD pair may continue moving south.

Previous Article
Next Article

Leave a Reply

Your email address will not be published.

Name Price24H (%)
Bitcoin (BTC)
$24,405.00
-0.19%
Ethereum (ETH)
$1,952.00
-1.93%
Tether (USDT)
$1.00
0.12%
XRP (XRP)
$0.380496
-0.48%
Litecoin (LTC)
$63.68
-1.31%

Start Trading

Best VPN Deal Of The Year

VPN

Recent Comments

    Disclaimer

    This website may have financial affiliations with some (not all) of the brands and companies mentioned on this website. The content you are viewing may be sponsored content. Information found on this website does not represent opinions on whether to buy, sell, or hold any investment assets or sign up with any of the services mentioned. Any disputes you may have with brands or companies mentioned on our blog will need to be taken care of directly with the specific brands and companies. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. Investors must do their own research before investing their money and only do so at their own risk.

    Don't Miss Crypto Comeback Pro!

    #1 Cryptocurrency Price Prediction Software and Trading Robot
    Sign Up

    Try Crypto Engine With a Trusted Broker