The pair EUR/USD continues to trade lower during this session and is getting closer and closer to parity. The declines in equities are supporting the strength of the US dollar, putting pressure on the EUR/USD pair again.
1-hour time frame chart.
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Create account Try a demo Download mobile app Download mobile appIn the 1 hour time frame chart, we can see that the buyers regained control of the price near the lower limit of the range, close to 1,036.
As long as the price remains above this zone, we cannot exclude the possibility of a further recovery in the strength of the euro against the US dollar.
EUR/USD, 1 hour time frame chart. Source: xStation
However, on the 1-hour chart, we can see that the divergence between the US dollar and the dollar index is increasing more and more, and a change in market sentiment could emerge in the medium to long term.
EUR/USD, 1 hour time frame chart. Divergence between EUR/USD and USD INDEX. Source: xStation 5
During this session, USD is leading the gains!
Source: currency-strength.com
Henrique Tomé, XTB Portugal
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
