In today’s European session, EUR/USD is showing strength as it edges higher towards the 1.1000 level after a brief dip on Thursday. The pair is poised to push higher if market sentiment remains positive heading into the weekend.
The US economic calendar is packed with key data releases, including consumer sentiment and housing figures, which could impact the pair’s movement.
EUR/USD Price Movement This Week
The table below highlights the percentage change of Euro (EUR) against major currencies this week, with EUR showing strength against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.64% | -0.97% | 1.41% | -0.09% | -0.81% | -0.25% | 0.40% | |
| EUR | 0.64% | -0.30% | 2.06% | 0.55% | -0.29% | 0.39% | 1.06% | |
| GBP | 0.97% | 0.30% | 2.63% | 0.86% | 0.01% | 0.69% | 1.35% | |
| JPY | -1.41% | -2.06% | -2.63% | -1.47% | -2.26% | -1.64% | -1.04% | |
| CAD | 0.09% | -0.55% | -0.86% | 1.47% | -0.77% | -0.16% | 0.50% | |
| AUD | 0.81% | 0.29% | -0.01% | 2.26% | 0.77% | 0.68% | 1.34% | |
| NZD | 0.25% | -0.39% | -0.69% | 1.64% | 0.16% | -0.68% | 0.65% | |
| CHF | -0.40% | -1.06% | -1.35% | 1.04% | -0.50% | -1.34% | -0.65% |
The recent upbeat economic data from the US boosted the US Dollar (USD) and caused a temporary dip in EUR/USD. However, the pair is now bouncing back as risk sentiment improves.
Looking ahead, the US will release Housing Starts, Building Permits, and Consumer Sentiment data, which could impact the pair’s movement in the short term.
Overall, the market sentiment is positive, with US stock index futures pointing to a higher open. If Wall Street continues to rise, the USD could weaken, leading to further gains in EUR/USD.
EUR/USD Technical Analysis
The Relative Strength Index (RSI) on the 4-hour chart is showing signs of a potential uptrend, with key resistance levels at 1.1000, 1.1050-1.1060, and 1.1100. Support levels to watch are 1.0960, 1.0940, and 1.0900.
Euro FAQs
For those interested in the Euro currency, here are some frequently asked questions:
- What is the Euro and how does it compare to other currencies?
- What role does the European Central Bank (ECB) play in managing the Eurozone?
- How do economic indicators and data releases impact the Euro’s value?
- Why is the Trade Balance important for the Euro currency?
Understanding these factors can help investors make informed decisions when trading the Euro.
Overall, the current market conditions suggest a potential upside for EUR/USD, driven by positive sentiment and key economic data releases. Investors should monitor the upcoming data releases and market trends to capitalize on potential trading opportunities.