Right To EUR/USD Tired Of Climbing And Will Come Down Again? - Kakiforex | Forex markets for the smart money. Right To EUR/USD Tired Of Climbing And Will Come Down Again? Right To EUR/USD Tired Of Climbing And Will Come Down Again?

April 12, 2021

Right To EUR/USD Tired Of Climbing And Will Come Down Again?

 The price movement on the chart of the EUR/USD currency pair during the Asian session at the market opening this week was seen struggling to break past the 1.19000 level.


The strengthening US dollar in the Asian session was seen pushing prices again to signal an early bearish trend this week.


The strengthening of the US dollar was seen to be off the momentum at the end of last week after the release of US producer price index data with the reading figure rising to a near 10 -year high.


The rising PPI index is seen to also push up the US inflation rate with consumer price index data to be published this week.




While some European economic data to be published this week will be monitored by investors whether they are able to support the strengthening of the Euro currency or vice versa.


The development of Brexit also returned to the spotlight after initial media reports on the UK and European Union (EU) agreement on its trade deal involving the Northern Ireland issue.



The positive development of Brexit will re -stimulate European currency trading in the market and investors will expect the continued strengthening of the Euro against the US dollar to continue this week.


If the US dollar shows a strengthening this week, the price on the EUR/USD chart will make a decline again is expected towards the RBS (resistance become support) zone of 1.18000.


The lower decline will hit back to the support zone at 1.17000 which was tested at the end of March.


However, if the price manages to continue the series of gains last week, the bullish target is seen at the resistance zone of 1.20000.