EUR/USD Forex Signal Today 22/04: Rally Continues (Chart)
Bullish view
- Purchase the EUR/USD pair and set a take-profit at 1.1600.
- Add a stop-loss at 1.1400.
- Timeline: 1-2 days.
Bearish view
- Promote the EUR/USD pair and set a take-profit at 1.1400.
- Add a stop-loss at 1.1600.
The EUR/USD exchange rate surged to the best level since 2021 because the buck tumble continued. It has jumped within the final 5 consecutive weeks, its longest streak since March 2023. It’s up by nearly 13% from its lowest stage this 12 months.
Donald Trump’s theat to fireside Governor Jerome Powell
The EUR/USD pair has achieved nicely prior to now few months as issues about Donald Trump’s menace to fireside Jerome Powell. He has continued to criticize Powell and the Federal Reserve for not chopping rates of interest.
Some authorities officers have hinted that Trump was finding out whether or not it was attainable to fireside the Fed Chair. Such a transfer would result in concern in regards to the position of the US greenback as a protected haven.
That position has been questioned after Trump introduced sweeping tariffs on all nations earlier this month. He has applied a 25% tariff on all imported automobiles, metal, and aluminum.
Trump additionally positioned a ten% tariff on European items to the USA. Tariffs on Chinese language items have jumped to 145%, the best stage in many years.
The EUR/USD pair has additionally jumped as Europe has develop into a protected haven in the course of the turmoil, with its shares doing higher than the Nasdaq 100 and the S&P 500.
Wanting forward, the important thing catalysts for the pair on Tuesday will probably be statements from a number of Fed officers like Neel Kashkari, Patrick Harker, and Phlip Jefferson. These officers will share their ideas in regards to the present state of the market and what to anticipate later this 12 months.
The opposite high European and US financial numbers will come out on Wednesday when S&P World will publish the flash manufacturing and companies PMI numbers.
EUR/USD technical evaluation
The every day chart exhibits that the EUR/USD alternate price has been in a robust bullish momentum prior to now few months. It has soared from a low of 1.0180 in January to a excessive of 1.1572.
The pair not too long ago crossed the necessary resistance stage at 1.1212, the higher aspect of the cup and deal with sample. Transferring above that stage validated this sample, which is among the most bullish ones in technical evaluation.
The Relative Energy Index (RSI) and different oscillators just like the MACD and the Superior oscillator have all pointed upwards. Due to this fact, the pair will seemingly proceed rising as consumers goal the psychological stage at 1.1600. The choice state of affairs is the place it drops and retests the cup’s higher aspect after which resumes the uptrend.
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