After the Geneva talks, the two sides announced a 90-day suspension of some tariff measures and a reduction in the tax rates of some goods. This progress has alleviated market concerns about the escalation of global trade frictions and weakened the attractiveness of the euro as a risky currency. Schnabel, an executive board member of the ECB, said, "There is no need for further interest rate cuts," believing that the current interest rate is at a neutral level. However, the market still expects that if the economic data in the eurozone is weak, the ECB may be forced to continue its easing policy within this year, which poses potential pressure on the euro.
The exchange rate has fallen below the 200-day moving average (1.1195) and is far away from the 12-day EMA (1.1303) and the 26-day EMA (1.1284), and the short-term moving averages are in a bearish arrangement.
MACD indicator: The DIFF (0.0044) is lower than the DEA (0.0089), and the negative value of the histogram has expanded, indicating an increase in the downward momentum.
RSI (14): Currently at 43.29, it has not entered the oversold range, suggesting that there is still room for further decline.
you are currently struggling with losses, or are unsure which of the numerous trading strategies to follow, at this moment, you can choose to observe the operations within our channel.
The exchange rate has fallen below the 200-day moving average (1.1195) and is far away from the 12-day EMA (1.1303) and the 26-day EMA (1.1284), and the short-term moving averages are in a bearish arrangement.
MACD indicator: The DIFF (0.0044) is lower than the DEA (0.0089), and the negative value of the histogram has expanded, indicating an increase in the downward momentum.
RSI (14): Currently at 43.29, it has not entered the oversold range, suggesting that there is still room for further decline.
you are currently struggling with losses, or are unsure which of the numerous trading strategies to follow, at this moment, you can choose to observe the operations within our channel.
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.
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.