The GBPCAD faced strong bearish pressures, which force it to break the bullish channel’s support at 1.8425, to begin forming strong bearish waves, targeting 1.8220 level.
We notice providing negative momentum by the main indicators to confirm the surrender of the negative scenario, to keep preferring the bearish attempts, which might target extra stations that begin at 1.8160 and 1.8080.
The expected trading range for today is between 1.8160 and 1.8355
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Copper price hasn’t moved anything since yesterday, due to its fluctuation below $5.9700 barrier, announcing its surrender to the sideways bias dominance, forming weak trading by its stability near $5.9000.
The continuation of the main indicators contradiction might push the price to provide more sideways trading, and its rally above the barrier and holding above it will open the way for recording extra gains, which might begin at $6.1200 and $6.2400.
The expected trading range for today is between $5.8500 and $6.1200
Platinum price surrendered to the stability of the barrier at $2430.00, pushing it to activate the attempts of gathering gains by testing $2245.00 support, to settle above it.
The suggested scenario depends on the strength of the current support, as its stability makes us expect begin forming bullish waves, to attempt to reach $2345.00, to repeat the pressure on the mentioned barrier, while its decline below the support and providing negative close will force it to suffer several losses by reaching $2180.00 and $2130.00.
The expected trading range for today is between $2245.00 and $2345.00
EUR/USD extends its slide after closing deep in negative territory on Monday and closes in on 1.1600. The risk-averse market atmosphere could make it difficult for the pair to stage a rebound, despite technically oversold conditions.
Euro Price This week
The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the weakest against the Australian Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
1.23%
0.82%
0.99%
0.36%
-0.15%
0.84%
2.22%
EUR
-1.23%
-0.41%
-0.27%
-0.86%
-1.36%
-0.38%
0.97%
GBP
-0.82%
0.41%
-0.06%
-0.45%
-0.96%
0.03%
1.38%
JPY
-0.99%
0.27%
0.06%
-0.57%
-1.09%
-0.04%
1.25%
CAD
-0.36%
0.86%
0.45%
0.57%
-0.55%
0.54%
1.85%
AUD
0.15%
1.36%
0.96%
1.09%
0.55%
0.99%
2.37%
NZD
-0.84%
0.38%
-0.03%
0.04%
-0.54%
-0.99%
1.37%
CHF
-2.22%
-0.97%
-1.38%
-1.25%
-1.85%
-2.37%
-1.37%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
The US Dollar (USD) capitalized on safe-haven flows at the beginning of the week and caused EUR/USD to push lower as markets reacted to the US and Israel carrying out a joint military operation against Iran. Reflecting the broad-based USD strength, the USD Index gained nearly 1% on a daily basis on Monday.
Early Tuesday, US stock index futures are down more than 1% on the day and the Euro Stoxx 50 Index loses about 2.3%. In turn, the USD Index preserves its bullish momentum and trades at its highest level since late January above 99.00.
US military officials said early Tuesday that they have destroyed command posts of Iran’s Revolutionary Guards, as well as Iranian air defense and missile launch sites since the start of the joint offensive on Saturday. Meanwhile, Iran fired missiles and drones at several Persian Gulf countries, including a drone strike that hit the US Embassy in Saudi Arabia’s capital, Riyadh. US President Donald Trump said that he doesn’t think “boots on the ground” will be necessary and added that the US will soon respond to the attack on the US embassy in Riyadh soon.
The European economic calendar will feature the preliminary Harmonized Index of Consumer Prices (HICP) data for February, which is unlikely to trigger a market reaction.
Later in the day, policymakers from the European Central Bank (ECB) and the Federal Reserve (Fed) will be delivering speeches.
ECB chief economist Philip Lane said early Tuesday that a prolonged conflict in the Middle East could lead to a substantial spike in inflation and also cause a sharp drop in output in the Euro Area. Additionally, ECB policymaker Martin Kocher told the Wall Street Journal on Monday that the ECB should be prepared to move interest rates quickly in either direction. In case ECB officials voice concerns over upside risks to inflation, the Euro could find a foothold in the near term and help EUR/USD limit its losses.
In the meantime, markets seem to be assessing the uncertainty created by the Middle East crisis as a factor that could cause the Fed to delay policy-easing. According to the CME FedWatch Tool, the probability of a Fed rate cut in June declined to about 36% from nearly 46% on Friday. Hence, the USD could continue to outperform its rivals if Fed policymakers hint that they would prefer to remain patient until they have a better understanding of the potential impact of the US-Iran war on inflation and the broad economic outlook.
EUR/USD Technical Analysis:
In the 4-hour chart, EUR/USD trades at 1.1635. The near-term bias is bearish as the pair holds below the 20-, 50- and 100-period Simple Moving Averages (SMAs), while the 50- and 100-period SMAs cap price beneath the gently rising 200-period SMA near 1.1805, signalling persistent downside pressure within a broader consolidation. The Relative Strength Index (RSI) sits near 26, in oversold territory, which reflects strong selling momentum but also warns that further declines would stretch the move. Price has slipped beneath the 61.8% Fibonacci retracement at 1.1757, measured from the 1.1590 low to the 1.2027 high, reinforcing the corrective slide from the upper range.
Immediate resistance now appears at the 61.8% retracement at 1.1757, followed by the 50% retracement at 1.1809, where the cluster of SMAs around 1.1780–1.1820 forms a broader supply zone that would need to break to ease the bearish tone. On the downside, support is seen at the recent Fibonacci anchor low at 1.1590, ahead of the horizontal levels at 1.1540 and 1.1500, which guard deeper losses. A sustained break below 1.1590 would open the path toward 1.1540, while recovery attempts below 1.1757 are expected to face selling interest.
(The technical analysis of this story was written with the help of an AI tool.)
Euro FAQs
The Euro is the currency for the 20 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.
The GBPJPY pair activated the bullish attempts, to achieve the suggested target by reaching 211.25, facing a key barrier which forces it to form new negative rebound, to settle near the initial support at 210.65 level.
Note that the continuation of the main indicators contradiction by the price stability below 211.25 might push it to form new bearish waves, attempting to reach 209.85 to press on 209.15 support, while confirming the positivity requires forming strong bullish rally, to settle above 211.25, to ease the mission of targeting the next positive level at 212.05.
The expected trading range for today is between 209.80 and 211.00
Coffee price kept its stability above 275.80 support until this moment, attempting to find a chance to reduce the losses, farming sideways waves by its fluctuation near 280.00 level.
The price needs new bullish momentum, reinforcing the chances of beginning recovering the losses, to expect its rally towards 293.50 directly, to press on the barrier at 301.00, while the decline below the current support will confirm the continuation of the negativity in the upcoming trading, expecting the next negative target at 264.80 level.
The expected trading range for today is between 275.00 and 293.50
