Created
: 2025.05.21
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
EUR/USD Price Forecast: Bullish outlook remains in play above 1.1300
World FX news
Breaking news
EUR/USD Price Forecast: Bullish outlook remains in play above 1.1300
New
2025.05.21 14:14
2025.05.21 14:14
2025.05.21 14:14
- EUR/USD attracts some buyers to around 1.1330 in Wednesday's early European session, up 0.42% on the day.
- The positive view of the pair prevails above the key 100-day EMA with the bullish RSI indicator.
- The immediate resistance level emerges at 1.1382; the first support level to watch is 1.1211.
The EUR/USD pair gathers strength to near 1.1330 during the early European session on Wednesday, bolstered by a weaker US Dollar (USD). The "sell America" theme continues after Moody's lowered the US rating from 'Aaa' to 'Aa1', citing that successive US administrations had failed to reverse ballooning deficits and interest costs.
Technically, the constructive outlook of EUR/USD remains in place as the major pair is well-supported above the key 100-day Exponential Moving Average (EMA) on the daily chart. The upward momentum is reinforced by the Relative Strength Index (RSI), which stands above the midline near 57.45, displaying bullish momentum in the near term.
On the bright side, the first upside barrier emerges at 1.1382, the high of May 6. A decisive break above this level could pick up more momentum and aim for 1.1455, the upper boundary of the Bollinger Band. Further north, the next resistance level is seen at 1.1574, the high of April 21.
In the bearish case, the low of May 8 at 1.1211 acts as an initial support level for EUR/USD. A breach of this level could drag the major pair toward 1.1106, the lower limit of the Bollinger Band. The additional downside filter to watch is 1.0940, the 100-day EMA.
EUR/USD daily chart
Euro FAQs
The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).
The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB's primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates - or the expectation of higher rates - will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.
Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB's 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.
Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone's economy.
Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
Last updated
: 2025.05.21
Related articles
CAD gets a mild tailwind from narrower spreads after CPI to press gains on USD - Scotiabank
3 minutes agoDXY: Bias to sell rallies - OCBC
6 minutes agoUSD/CHF Price Forecast: Extends losing streak for third trading day
8 minutes agoEUR strengthens as policymakers speak to end of ECB easing cycle - Scotiabank
12 minutes agoMexican Peso retreats against the US Dollar ahead of Mexican Retail Sales data, US tax vote
24 minutes agoUSD/JPY: Bias for USD is on the downside - UOB Group
38 minutes ago
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
CAD gets a mild tailwind from narrower spreads after CPI to press gains on USD - Scotiabank
Yesterday's hotter than expected April CPI data served to dampen expectations of a June BoC rate cut, putting some moderate, downward pressure on US/Canada interest rate spreads, Scotiabank's Chief FX Strategist Shaun Osborne notes.
New
2025.05.21 20:46DXY: Bias to sell rallies - OCBC
US Dollar (USD) fell broadly against most currencies. DXY was last at 99.59, OCBC's FX analysts Frances Cheung and Christopher Wong note.
New
2025.05.21 20:42USD/CHF Price Forecast: Extends losing streak for third trading day
The USD/CHF pair slides to near 0.8240 during the European trading session, extending the losing streak for the third trading day on Wednesday.
New
2025.05.21 20:40EUR strengthens as policymakers speak to end of ECB easing cycle - Scotiabank
Euro (EUR) is up 0.5% vs. the US Dollar (USD) and a mid-performer among the G10 in an environment of broad-based USD weakness, Scotiabank's Chief FX Strategist Shaun Osborne notes.
New
2025.05.21 20:36USD/CNH: Likely to trade in a 7.1850/7.2450 range - UOB Group
Downward momentum has largely faded; US Dollar (USD) is likely to trade in a 7.1850/7.2450 range for now against Chinese Yuan (CNH), UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.05.21 20:29Mexican Peso retreats against the US Dollar ahead of Mexican Retail Sales data, US tax vote
The Mexican Peso (MXN) and the US Dollar (USD) are gearing up for a crucial day of economic and fundamental headwinds, which could offer further insight into the current and projected growth outlooks for both economies.
New
2025.05.21 20:24USD/JPY: Bias for USD is on the downside - UOB Group
There is scope for US Dollar (USD) to edge lower to 143.80 vs Japanese Yen (JPY); a sustained break below this level seems unlikely. In the longer run, the bias for USD is on the downside toward 143.80, potentially to 143.30, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.05.21 20:10AUD/USD Price Forecast: Sets for volatility expansion
The AUD/USD pair moves higher to near 0.6460 during European trading hours on Wednesday. The Aussie pair gains as the US Dollar (USD) continues to underperform its peers on the back of the United States (US) Sovereign Credit rating erosion.
New
2025.05.21 20:06Lagarde is positive on the strong Euro - Commerzbank
News of a potential Israeli attack on Iran's nuclear facilities is causing EUR/USD to rise this morning and shows that the euro is currently still favored as a safe haven against the dollar. However, this does not seem to be a problem, at least for the ECB.
New
2025.05.21 20:03NZD/USD: Outlook remains mixed - UOB Group
New Zealand Dollar (NZD) is likely to trade in a sideways range of 0.5905/0.5945 against the US Dollar (USD). In the longer run, outlook remains mixed, but NZD is likely to trade in a tighter range of 0.5835/0.5985, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.05.21 19:38Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
