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Forex: Oh My... Euro (EUR) To US Dollar (EUR/USD) Has Decreased By Almost 5% This Month So Far...

Forex: Oh My... Euro (EUR) To US Dollar (EUR/USD) Has Decreased By Almost 5% This Month So Far...| FXMAG.COM
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Table of contents

  1. Referendums, Nord Stream explosions weigh on euro
    1. Euro To USD Technical

      The euro is in negative territory today, after posting six straight days of losses. EUR/USD is trading at 0.9553 in Europe, down 0.41%.

      Referendums, Nord Stream explosions weigh on euro

      September can’t end fast enough for the euro, which has declined a massive 4.8% against the dollar. Earlier today, EUR/USD fell to 0.9536, its lowest level since June 2002. With the war in Ukraine escalating and Nord Stream reporting that its pipeline was deliberately damaged, it’s hard to be optimistic about the euro’s outlook.

      forex oh my euro eur to us dollar eur usd has decreased by almost 5 this month so far grafika numer 1forex oh my euro eur to us dollar eur usd has decreased by almost 5 this month so far grafika numer 1

      The sham referendums in Russian-occupied Ukraine have ended and predictably, the vote to join Russia was close to 100%. Moscow is expected to declare on Friday that the territories are being annexed to the Russian Federation, sparking fears that Russia could resort to nuclear weapons to defend what it claims is Russian territory.

      There was a further escalation in the Ukraine war last week, as explosions at the Nord Stream 1 and 2 pipelines are suspected to have been sabotaged. Nord Stream 2 has been shelved and Nord Stream 1 has been shut down for weeks, and any faint hopes that Russia might renew gas exports through Nord Stream have been dashed. European natural gas prices have jumped in response to the news.

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      The US dollar continues to rally, and 10-year Treasury yields pushed above 4.00% earlier today, for the first time since 2008. The markets are showing a healthy respect for Fed hawkishness, even after inflation weakened in the past two inflation reports. There is some optimism that the current rate-tightening cycle is reaching its end, with Fed member Evans stating that it will be appropriate to slow the pace of tightening at some point. For now, the US dollar has momentum, driven by an aggressive Fed and weak risk appetite.

      Euro To USD Technical

      • EUR/USD is testing support at 0.9554. Next, there is support at 0.9419
      • There is resistance at 0.9640 and 0.9711

      forex oh my euro eur to us dollar eur usd has decreased by almost 5 this month so far grafika numer 2

      This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

      EUR/USD falls to new 20-year low - MarketPulseMarketPulse


      Kenny Fisher

      Kenny Fisher

      A highly experienced financial market analyst with a focus on fundamental analysis, Kenneth Fisher’s daily commentary covers a broad range of markets including forex, equities and commodities. His work has been published in several major online financial publications including Investing.com, Seeking Alpha and FXStreet. Based in Israel, Kenny has been a MarketPulse contributor since 2012.


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