EUR/USD Technical Analysis April 8, 2025
Current Price Levels and Technical Indicators:
As of 7:00 GMT on April 8, 2025, the EUR/USD pair is trading near the 1.0900 level.
Technical indicators present mixed signals:
Relative Strength Index (RSI): The RSI has eased near 61, coming down from the overbought zone, suggesting a decrease in bullish momentum.
Moving Averages:
50-day SMA: Positioned around 1.0850, indicating a support level.
200-day SMA: Located near 1.1000, acting as a resistance level.
Support and Resistance Levels:
Key levels to monitor:
Support:
1.0900: Immediate support level.
1.0850: Aligns with the 50-day SMA.
1.0800: Psychological support level.
Resistance:
1.1000: Coincides with the 200-day SMA.
1.1050: Recent intraday high.
1.1100: Psychological resistance level.
Fundamental Factors:
Several factors are influencing the EUR/USD pair:
US Tariffs: President Donald Trump’s recent imposition of tariffs has heightened fears of a global recession, leading to increased demand for the US Dollar as a safe-haven asset.
European Market Performance: European stock markets have declined significantly, with the pan-European STOXX 600 falling 5.8% in early trading, reflecting investor concerns over escalating trade tensions.
EU’s Response: The European Union is preparing countermeasures in response to US tariffs, which could further impact the euro’s performance.
Conclusion:
The EUR/USD pair is currently trading near the 1.0900 level, with technical indicators showing mixed signals. Support is observed at 1.0900 and 1.0850, while resistance lies at 1.1000 and 1.1050. Fundamental factors, including escalating US-EU trade tensions and market volatility, are contributing to the pair’s current dynamics. Traders should monitor these developments closely, as they are likely to influence the pair’s movement in the near term.
GBP/USD Technical Analysis April 8, 2025