The U.S. dollar jumped to a five-year high against the euro on Thursday, following European Central Bank (ECB) President Mario Draghi’s comments.
Draghi hinted that uncertainties related to international trade tensions, emerging market turmoil and geopolitical risks continue to plague the outlook for the euro zone’s economy. That probably set off market expectations of a dovish stance from the ECB, at least for the near-term. The euro was -0.18% lower against the dollar at $1.136, after falling as low as $1.1308 - its lowest since Dec. 17.
What could have potentially added to the dollar’s upside was strong labor market conditions in the U.S. Latest official figures revealed that the number of applicants for unemployment benefits fell to more than a 49-year low last week in the U.S. The dollar index - which tracks the US dollar’s value against a basket of other currencies like the euro, yen, British pound and three others - was up +0.15% at 96.265
The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an uptrend is expected.
The RSI Indicator shows that the ticker has stayed in the oversold zone for 6 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an Uptrend is expected.
EURUSD may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Momentum Indicator moved below the 0 level on October 01, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on EURUSD as a result. In of 138 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for EURUSD turned negative on September 28, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 107 similar instances when the indicator turned negative. In of the 107 cases the stock turned lower in the days that followed. This puts the odds of success at .
The Aroon Indicator for EURUSD entered a downward trend on October 11, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows