Easy Trading Tips offers free forex and commodities technical analysis, trading forecast, latest stock market, forex, commodities & business news, real time quotes, live charts, live markets data, economic calendar and many more.

UR/USD Technical Analysis March 17, 2025

0

EUR/USD Technical Analysis March 17, 2025

As of March 17, 2025, the EUR/USD currency pair is trading at approximately 1.0884, reflecting a slight increase of 0.04% from the previous close. The pair has been consolidating within a narrow range, with traders awaiting key economic data and central bank statements.

Current Price Levels and Technical Indicators:

The EUR/USD pair has been in an overall uptrend, gaining nearly 5% since the start of March. However, recent price action suggests neutral intraday momentum, with the pair struggling to break above key resistance levels. The 50-day moving average remains above the 200-day moving average, signaling a continued bullish bias. Meanwhile, the Relative Strength Index (RSI) is hovering around 55, indicating a balanced market with neither overbought nor oversold conditions.

Support and Resistance Levels:

Key support and resistance levels to watch:

  • Resistance Levels:

    • 1.0946 – Recent high and immediate resistance.
    • 1.1000 – Psychological barrier.
    • 1.1274 – Long-term resistance level.
  • Support Levels:

    • 1.0806 – Recent swing low.
    • 1.0721 – 38.2% Fibonacci retracement of the 1.0358 to 1.0946 move.
    • 1.0500 – Key psychological support.

Fundamental Factors:

Several factors are impacting the EUR/USD price action:

  • U.S. Dollar Weakness: The U.S. dollar is facing pressure amid economic uncertainty and softer economic data, contributing to a slight upside for the euro.
  • Eurozone Fiscal Policies: Germany’s recent fiscal policy shifts are expected to boost economic activity, potentially strengthening the euro.
  • Market Sentiment: A shift in investor sentiment is leading to increased demand for euro-denominated assets, further influencing price movements.

Conclusion:

The EUR/USD pair remains in a consolidation phase, with traders watching key technical levels. A breakout above 1.0946 could signal further bullish momentum, while a drop below 1.0806 may indicate short-term weakness. Market participants should closely monitor upcoming economic events and central bank statements for further direction.

GBP/USD Technical Analysis March 17, 2025

USD/JPY Technical Analysis March 17, 2025

USD/CAD Technical Analysis March 17, 2025

Leave A Reply

Your email address will not be published.