EURO/USD Is Going Down

By RoboForex Analytical Department

The major currency pair continues falling. On Monday 28 March, EUR/USD is trading at 1.0951.

The currency market is still interested in the “greenback” as a “safe haven” asset – investors need to hedge risks amid both global geopolitical tensions and the US Fed’s policy.

Earlier, Fed Chairman Jerome Powell said that the benchmark interest rate might leap up 50 basis points if the regulator couldn’t handle inflation.

There will be six more Fed meetings this year and the rate might be raised after each of them.

In the H4 chart, having formed a new consolidation range around 1.1010 and broken it to the downside, EUR/USD is expected to test 1.0970 and then complete the correction at 1.0901. Later, the market may form one more ascending wave the target at 1.1133. From the technical point of view, this scenario is confirmed by MACD Oscillator: its signal line is falling below 0 and may soon update the lows.

As we can see in the H1 chart, after breaking 1.0970 to the downside, EUR/USD is expected to test it from below and may later form a new ascending structure with the short-term target at 1.0919. After that, the instrument may grow to re-test 1.0970 from below and then resume trading downwards with the target at 1.0900. From the technical point of view, this idea is confirmed by the Stochastic Oscillator: after breaking 20 to the upside, its signal line may continue moving to reach 50. Later, the line may rebound from 50 and start a new decline towards 20.

Disclaimer: Any forecasts contained herein are based on the author's particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein

Posted In: contributorseuroEurozoneForexMarkets

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.