EUR is slowly gaining momentum against USD, after ECB raises borrowing cost, although the terminal rate of the currency remains unchanged and the risk for the Italian bond due to the political situation in the country.
On the other hand, USD is giving up to the EUR due to the decline of treasury yields after some concerning data regarding factory activity and unemployment benefits.
RSI's slow moving line is bouncing off the oversold zone and it's slow line is way above it. MACD histogram is also above the 0 line confirming bullish trend.
If the trend continues, it might test its previous high at 1.06, but if we see a reversal, the currency might try to test its parity again.
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On the other hand, USD is giving up to the EUR due to the decline of treasury yields after some concerning data regarding factory activity and unemployment benefits.
RSI's slow moving line is bouncing off the oversold zone and it's slow line is way above it. MACD histogram is also above the 0 line confirming bullish trend.
If the trend continues, it might test its previous high at 1.06, but if we see a reversal, the currency might try to test its parity again.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.