Read more

Market Volatility Boosts US Dollar, EUR/USD Breaks Key Support

10:51 AM 15 April 2024

The EUR/USD was under pressure last week following the release of US inflation data and amid escalating tensions in the Middle East.

The increase in market volatility, resulting in a sell-off in indices, ultimately benefited the US dollar, which extended its gains from recent weeks.

 

Consequently, the EUR/USD broke below the support zone that had been sustaining the price since November 2023.

At this moment, as long as the price remains below the 1.072 level, a bearish scenario seems most likely, and the possibility of a further decline towards the support level at 1.055 should not be ruled out.

EUR/USD Daily time frame chart. Source: xStation 5
 

Dollar Index, Daily time frame chart. Source: xStation 5
 

Forex Heatmap. Source: xStation 5

Henrique Tomé,
Analyst Portugal


 
Share:
Back

Market News

04.07.2025
19:13

Daily Summary: Tariff Concerns Weigh on Markets

Due to Independence Day, the US stock market remained closed today. Concerns about the future of tariff negotiations led to declines in US index...

 18:56

US Stock Peaks on Increasingly Shaky Foundations

US indices hit new highs yesterday. Today's lack of trading sessions is causing a slight correction in futures contracts, although it's hard to...

 13:48

DE40: European Stocks Slide On Tariff Anxiety (04.07.2025)

European markets record sharp declines, as investors’ anxiety grows ahead of the looming tariff negotiation deadline. Donald Trump’s pledge...
More news

Join over 1 600 000 XTB Group Clients from around the world

Start trading Download the app Download the app
The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits