EUR/USD Continues to Fall Lower at the Opening of 2025

thecekodok
1 minute read


The US dollar was seen to continue its strengthening at the opening of 2025 yesterday after starting to display the positive pattern on the last trading day of 2024 on Tuesday.


Although it happened earlier, analysts had expected a strengthening situation for the US dollar following the signals obtained from the FOMC meeting last December.


The Euro was one of the currencies that was significantly affected by the strengthening of the US dollar this week, seeing the price decrease lower compared to the previous week's flat movement.


Looking at the EUR/USD currency pair chart, the price that leveled off above the 1.0400 level yesterday then plunged below that level in the New York session.


The decline occurred after the price was seen to have failed to break through the Moving Average 50 (MA50) barrier line on the 1-hour time frame on the chart after being tested.


With the bearish signal, the price has fallen to a lower level compared to last week, reaching around 1.03500 which is the price support level in December trading.


However, a slow rebound is shown in the trading that continued in the early Asian session this morning (Thursday) around 1.03700.


If the rise is successfully extended, the resistance is at the 1.04000 zone to be tested and if successfully surpassed it will signal a bullish movement for the price.


For a higher rise, the price will re-target the previous focus zone at 1.0500.


However, if the price declines to continue the downward pattern of the past 2 days, a new low will be recorded.


The nearest target is to track around 1.03000 and further declines are expected if there are further indications.

Today | 27, February 2025