PU Prime App

Exclusive deals on mobile

  • Trading Knowledge  >  Trading Blog

18 April 2024,02:18

Trading BlogTrading Knowledge

EUR/USD Steady Amid Renewed Selling Pressure On Greenback

18 April 2024, 02:18

Share on:
EUR/USD Steady Amid Renewed Selling Pressure On Greenback trading opportunities 18 April 2024

Fundamental Analysis

* Euro’s Steadfast: The Euro has slightly recovered and edge higher against the dollar as investors consolidated gains after Federal Reserve officials repeated the interest rate-cutting cycle is on hold pending new economic data, while the monetary easing outlook for other major central banks remained unchanged. On top of that, Euro also received support from positive data. Core HICP data reflected a year-on-year increase of 2.9%, consistent with preliminary figure. Month-on-month readings aligned with the initial estimates as well. The lack of change in the final estimate may have taken the heat out of increasingly dovish expectations regarding interest rates from ECB.

Technical Analysis

* Technical Breakout: EUR/USD was traded higher while currently testing the resistance level 1.06750. MACD which illustrate bullish momentum signal with recent formation of golden cross suggest the pair to further extend its gains.

* Resistance and Targets: If the bullish momentum persists, there’s a strong likelihood that the price will potentially head towards 1.07459 after the price breach above the level 1.06750. Conversely, a failure to breach above the level would indicate the potential trend continuation for the pair and head back towards the support level 1.06050.

Understand how technical analysis can help you in this trading opportunity.

Potential Risks

With no new driving force, markets will remain attentive to economic data from both the EU and the US for further guidance. Additionally, speeches from key ECB figures such as ECB Executive Board Member Piero Cipollone, ECB Executive Board Member Isabel Schnabel, and President Christine Lagarde will be closely monitored, potentially influencing the pair’s volatility.

Know how to manage trading risks with risk management strategies.


Stay updated on EU and US, ECB related updates and any shifts in the US Dollar’s strength by following PU Prime’s market insights and daily financial news.

Grab the trading opportunity and dive into the action risk-free with a free demo account. It is the perfect way to hone your skills and explore the exciting world of trading!

Open Your Free Demo Account And Start Trading Risk-Free

Join Now

Disclaimer: Trading derivatives involves high risks, and market conditions can change rapidly. The content is for informational purposes only and should not be considered as financial advice. Traders should conduct their own research and consider risk management strategies.

Start trading with an edge today

Trade forex, indices, metal, and more at industry-low spreads and lightning-fast execution.

  • Start trading with deposits as low as $50 on our standard accounts.
  • Get access to 24/7 support.
  • Access hundreds of instruments, free educational tools, and some of the best promotions around.
Join Now

Latest Posts

Fast And Easy Account Opening

Create Live Account
  • 1


    Sign up for a PU Prime Live Account with our hassle-free process.

  • 2


    Effortlessly fund your account with a wide range of channels and accepted currencies.

  • 3

    Start Trading

    Access hundreds of instruments under market-leading trading conditions.

Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.

Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.

By clicking the "Acknowledge" button, you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on reverse solicitation in accordance with the laws of your home jurisdiction.

Thank You for Your Acknowledgement!

Ten en cuenta que el sitio web está destinado a personas que residen en jurisdicciones donde el acceso al sitio web está permitido por la ley.

Ten en cuenta que PU Prime y sus entidades afiliadas no están establecidas ni operan en tu jurisdicción de origen.

Al hacer clic en el botón "Aceptar", confirmas que estás ingresando a este sitio web por tu propia iniciativa y no como resultado de ningún esfuerzo de marketing específico. Deseas obtener información de este sitio web que se proporciona mediante solicitud inversa de acuerdo con las leyes de tu jurisdicción de origen.

Thank You for Your Acknowledgement!