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.
In 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
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