Today's session has not been particularly favorable for the euro. Recent EUR/USD price action shows a decline of approximately 0.2% in favor of the U.S. dollar, a move largely driven by the release of the U.S. PCE inflation report and the recent recovery seen in the bond market.
Trading conditions remain challenging for Nasdaq 100. Over the past five trading sessions, the index has declined by nearly 3.2%, reinforcing a meaningful bearish bias in the short term. Selling pressure has persisted even after the release of the Federal Reserve's minutes, while bond market yields continue to trade at elevated levels.
During today's trading session, the EUR/USD pair has posted a gain of more than 0.8% in favor of the euro, marking one of its strongest bullish moves in recent weeks and once again reinforcing a notable bullish bias in the short term.
It’s been a quiet couple of weeks in EUR/USD but so far the levels have remained clean.
As the new trading week kicks off, a renewed bullish bias is taking hold of the Dow Jones. The index has already rallied nearly 3.00% over the last 3 sessions, creeping back toward key all-time highs.
Following the strong recovery of the euro against the US dollar last week, slight indecision has reemerged on the EUR/USD chart. This is reflected in early week trading fluctuations, which now show a price decline of around -0.2%, indicating modest short-term strength for the dollar.
A new bullish bias has started to gain relevance in the S&P 500, which is up 2.00% over the last two sessions, mainly supported by corporate earnings that have helped sustain short-term market confidence.
These continue to be difficult sessions for the Nasdaq 100. Over the last 4 trading sessions, the index has accumulated a decline of nearly -3.8%, once again highlighting a relevant short-term selling bias.
Last week’s European Central Bank meeting helped EUR/USD to break below a bear flag formation, but sellers still haven’t been able to punch down to a fresh low. That door is open but if they don’t walk through it…
It was not an easy week for the euro. Now, EUR/USD has accumulated a decline of more than 0.4% over the last 2 trading sessions, reflecting significant short-term weakness in the European currency.
EUR/USD is breaking down to fresh near-term lows after the European Central Bank rate decision, with the pair now working on a bear flag breakdown.
Could EUR/CHF's breakout be the blueprint for USD/CHF? Similar technical structures suggest traders should be paying close attention.
It has not been an easy stretch for the S&P 500. Over the last 5 trading sessions, the index has accumulated a decline of nearly -0.9%, while the broader outlook continues to show a phase of neutrality and indecision.
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