Forex analytics and overview

Euro Retreats After Rallying

2022.06.20 12:56

The euro retreated on Friday after a rally on Thursday. Although the market was getting ready to return to the previous day’s highs, a modest price increase happened. 

On Friday, industrial production growth in the United States slowed to 5.8% versus 6.4%, beating market expectations of a 4.9% fall. The euro grew slightly in light of a slight drop in US industrial production.Euro Retreats After RallyingUS industrial production.

Today is a federal holiday in the United States. Therefore, the market is likely to trade sideways due to the absence of American traders. After all, these are US financial institutions that control most of the capital circulating in the global financial market. So, there will hardly be any activity in the market without them.

The US dollar partially recovered against the euro on Friday. Eventually, the pair settled below the mark of 1.0500. Despite the generally stronger greenback, quotes are still in a corrective stage. The Relative Strength Index (RSI) hovers around 50 on the 4-hour chart, signaling a flat market. On the daily chart, the indicator is in the range between 30 and 50, showing a downtrend.

Multiple crossovers of the Alligator’s MAs confirm the flat market on the 4-hour chart. The Alligator is signaling a downtrend on the daily chart, and its MAs are not crossed.

Technical Outlook

The pair will likely hover around 1.0500 today amid a decrease in trading volumes and market activity. The corrective move could extend should the quote settle above 1.0570 on the 4-hour chart. So far, the current flat market indicates a gradual recovery of dollar positions.

Speaking of complex indicator analysis, there are mixed signals for short-term and intraday trading because of the flat market. In the medium term, technical indicators signal the general downtrend.Euro Retreats After RallyingEUR/USD 4-hour chart.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 82,074.99 1.66%
ethereum
Ethereum (ETH) $ 1,893.43 0.90%
tether
Tether (USDT) $ 1.00 0.00%
xrp
XRP (XRP) $ 2.29 2.52%
bnb
BNB (BNB) $ 581.02 0.54%
solana
Solana (SOL) $ 124.76 0.36%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 0.709859 1.46%
dogecoin
Dogecoin (DOGE) $ 0.168219 0.86%
tron
TRON (TRX) $ 0.223799 0.51%
staked-ether
Lido Staked Ether (STETH) $ 1,889.86 0.76%
pi-network
Pi Network (PI) $ 1.68 1.67%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 81,806.92 1.75%
leo-token
LEO Token (LEO) $ 9.72 0.34%
chainlink
Chainlink (LINK) $ 13.33 0.79%
stellar
Stellar (XLM) $ 0.272438 2.44%
usds
USDS (USDS) $ 1.00 0.05%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,260.46 1.19%
hedera-hashgraph
Hedera (HBAR) $ 0.188737 3.49%
avalanche-2
Avalanche (AVAX) $ 18.61 0.90%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 2.63%
the-open-network
Toncoin (TON) $ 2.80 3.07%
sui
Sui (SUI) $ 2.18 3.28%
litecoin
Litecoin (LTC) $ 88.80 1.06%
bitcoin-cash
Bitcoin Cash (BCH) $ 326.88 3.87%
mantra-dao
MANTRA (OM) $ 6.24 3.56%
polkadot
Polkadot (DOT) $ 4.03 1.63%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.01%
weth
WETH (WETH) $ 1,894.47 0.93%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999741 0.03%
bitget-token
Bitget Token (BGB) $ 4.22 0.65%
hyperliquid
Hyperliquid (HYPE) $ 13.32 4.32%
whitebit
WhiteBIT Coin (WBT) $ 28.14 1.46%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,010.89 0.93%
monero
Monero (XMR) $ 207.85 0.25%
uniswap
Uniswap (UNI) $ 5.88 0.68%
susds
sUSDS (SUSDS) $ 1.04 0.05%
near
NEAR Protocol (NEAR) $ 2.63 2.49%
dai
Dai (DAI) $ 0.99982 0.01%
aptos
Aptos (APT) $ 5.13 0.05%
pepe
Pepe (PEPE) $ 0.000007 1.44%
ethereum-classic
Ethereum Classic (ETC) $ 18.17 2.38%
ondo-finance
Ondo (ONDO) $ 0.837382 1.87%
internet-computer
Internet Computer (ICP) $ 5.51 0.06%
okb
OKB (OKB) $ 41.93 0.76%
gatechain-token
Gate (GT) $ 20.51 1.72%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 82,093.00 1.54%
aave
Aave (AAVE) $ 163.69 5.00%
mantle
Mantle (MNT) $ 0.725955 2.96%
official-trump
Official Trump (TRUMP) $ 11.62 7.62%