• bitcoinBitcoin (BTC) $ 67,337.00
  • ethereumEthereum (ETH) $ 1,950.36
  • tetherTether (USDT) $ 0.999435
  • xrpXRP (XRP) $ 1.38
  • bnbBNB (BNB) $ 611.61
  • usd-coinUSDC (USDC) $ 0.999901
  • solanaSolana (SOL) $ 79.64
  • jusdJUSD (JUSD) $ 0.999053
  • tronTRON (TRX) $ 0.278474
  • staked-etherLido Staked Ether (STETH) $ 2,265.05

EUR/USD rebounds as risk-on mood saps Dollar, eyes weekly consolidation

The Euro found some respite on Friday versus its counterpart the Greenback, which enjoyed a short-live rally of just two days, but erased Thursday’s gains on Friday as depicted by the US Dollar Index (DXY).

🔗 Source

💡 DMK Insight

The Euro’s slight recovery against the Dollar hints at underlying volatility in the forex market right now. Traders should note that the recent two-day rally of the Greenback was short-lived, as indicated by the US Dollar Index (DXY) reversing its gains. This could signal a potential shift in sentiment, especially with upcoming economic data releases that might impact the Dollar’s strength. If the Euro continues to gain traction, it could break through key resistance levels, potentially affecting correlated assets like EUR/USD pairs. Watch for any shifts in the DXY, as a sustained drop below recent support levels could trigger further Euro strength. Keep an eye on the daily charts for signs of reversal patterns or breakout opportunities, particularly if the Euro can maintain its footing above recent lows.

📮 Takeaway

Watch the DXY closely; a sustained drop could signal further Euro strength, impacting EUR/USD trading strategies.

Leave a Reply

Navigating Success Together

Place your Ad

Trending News

  • All Posts
  • Community
  • Crypto Markets
  • DeFi & Web3
  • DMK AI Summary
  • DMK Editorials
  • DMK Press Release
  • Forex News
  • NFT & Metaverse
  • Regulation & Security
  • Tech & Innovation
  • Top News

News Categories