The EUR/USD pair continues its upward trend, trading around 1.1195, supported by a weakening US Dollar following softer-than-expected US inflation data for April. Headline CPI rose just 2.3% YoY—its lowest since February 2021—while core CPI held steady at 2.8%, matching forecasts.
Additionally, Moody’s downgrade of the US credit rating from AAA to AA1 due to concerns over fiscal deficits and rising debt has further pressured the greenback—the USD Index dropped 0.6%.
In the near term, EUR/USD is expected to extend gains if it breaks above the key resistance at 1.1270. However, risk remains if upcoming Federal Reserve speeches adopt a more hawkish tone, which could trigger a USD rebound.
Market participants are also watching Germany’s Harmonized Index of Consumer Prices (HICP), set to be released later today, for fresh direction.
💡 Short-Term Trade Scenarios:
BUY EURUSD: zone 1.11600 - 1.11450
SL: 1.11200
TP: 40 - 60 - 100pips
Additionally, Moody’s downgrade of the US credit rating from AAA to AA1 due to concerns over fiscal deficits and rising debt has further pressured the greenback—the USD Index dropped 0.6%.
In the near term, EUR/USD is expected to extend gains if it breaks above the key resistance at 1.1270. However, risk remains if upcoming Federal Reserve speeches adopt a more hawkish tone, which could trigger a USD rebound.
Market participants are also watching Germany’s Harmonized Index of Consumer Prices (HICP), set to be released later today, for fresh direction.
💡 Short-Term Trade Scenarios:
BUY EURUSD: zone 1.11600 - 1.11450
SL: 1.11200
TP: 40 - 60 - 100pips
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📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.