Forex rates	Crypto rates	Stocks rates	Indices rates	Commodities rates
EUR/USD	BITCOIN	TESLA	DOW	GOLD
USD/JPY	ETHEREUM	APPLE	S&P500	SILVER
GBP/USD	SOLANA	COINBASE	DAX	USOIL
USD/CHF	RIPPLE	GOOGLE	FTSE	UKOIL
USD/CAD	DOGE	FACEBOOK	NIKKEI225	PLATINUM
AUD/USD	BNB	AMAZON	NAS100	PALLADIUM
NZD/USD	CARDANO	NETFLIX
	AVALANCHE	PFIZER

Forex Signals	Crypto Signals	Stock Signals
What are forex signals	What Are Crypto Trading Signals?	What Are Stock Trading Signals?
How to use our Forex Signals	How to Use Crypto Trading Signals	How to Use Stock Trading Signals?
Auto vs. Manual Forex Signals	Crypto Signals for Technical Traders	Stock Trading Indicators for beginners
Forex Signals for Technical Traders	Make the Most out of Crypto Trading Signals	Automated vs Manual Stock Trading Signals
Forex Signals for Scalping	Crypto Scalping Signals	How to Generate Buy and sell Signals of stock trading?
Forex Signals Testimonials	Automated vs Manual Crypto Signals	How to Use Stock Volume as a Trading Signal?
More Forex Signals Articles	Trading Binance With Crypto Signals	Best Technical Indicators For The Stock Market

CRYPTO	FOREX
DeFi Guides What is DeFi Lending? What is DeFi Yield Farming? What is a DEX? What is a Decentralized Application? What are Cross Chain Bridges? What is Cryptocurrency Staking?	Crypto Guides What is Bitcoin Currency? What is Cryptocurrency? Top 10 Cryptocurrencies Cryptocurrency Wallets Cryptocurrency Exchange What Are Crypto Trading Bots?	Crypto Strategies Price Action Bollinger Bands Technical Analysis Parabolic Sar Relative Strength Index The Buy and Hold Approach Moving Average Convergence Divergence	Forex Strategies Fundamental Forex Strategies Popular Forex Strategies Technical Forex Strategies Forex Strategies Articles	Forex Tutorial Instrument Guide FAQ for forex Forex Glossary Social Trading	Forex Course Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5

Crypto Forecasts	Forex Forecasts	Commodities Forecasts
Ethereum price forecast	GBP/USD price forecast	Gold price forecast
Monero price forecast	USD/JPY price forecast	Silver price forecast
Stellar Lumens forecast	USD/BRL price forecast	Palladium price forecast
AAVE price forecast	EUR/USD price forecast	Platinum price forecast
Ankr price forecast	USD/INR price forecast	Aluminium price forecast

Forex Brokers	Best by Country	Brokers Types	Brokers by License
Best Forex Trading Platforms	USA Forex Brokers	ECN Forex Brokers	FCA Regulated (UK)
Best Forex No deposit bonus	UK Forex Brokers	STP Forex Brokers	ASIC Regulated (AUS)
Best Forex Brokers for Beginners	New Zealand Forex Brokers	NDD Forex Brokers	CySec Regulated (Cyprus)
Best Forex Trading Apps	Canada Forex Brokers		CFTC Forex Brokers (USA)
Best Copy Trading Platforms	South Africa Forex Brokers		CBN Regulated (NG)
Best Zero Spread Brokers	Nigeria Forex Brokers		FSCA Regulated (SA)
Best MetaTrader Brokers	India Forex Brokers
Best Bitcoin Brokers	Malaysia Forex Brokers
Best Nasdaq 100 Brokers	Indonesia Forex Brokers
Best FTSE 100 Brokers	View list all countries
Best CFD Brokers	Philippines Forex Brokers

Top 10 Best Rated Brokers	Best for Beginners	Best for Copy Trading
AvaTrade	Axiory	IC Markets
Exness	CMTrading	Pepperstone
HFM	BDSwiss	HFM
JustMarkets	HFM	Tickmill
XM	Blackbull Markets	XTB
BDSwiss	Eightcap	Markets.com
Pepperstone	FxPro	FXTM
FBS	GO Markets	easyMarkets
Octa	InstaForex	JustMarkets
FP Markets	Oanda	Forex.com
Plus500	Vantage Markets	Axi

EUR/USD Technical Analysis: A Rebound Amid Speculation of Fed’s Policy Shift

Arslan Butt•Monday, December 4, 2023•2 min read

In the early hours of Monday’s Asian trading session, the EUR/USD pair halted its three-day downward trend. The pair’s recovery is fueled by a softening US Dollar (USD) and a decline in US Treasury bond yields, following market speculation that the Federal Reserve (Fed) might be nearing the end of its rate-hiking cycle and considering policy easing. Currently, EUR/USD is trading near 1.0890, marking a modest gain of 0.10% for the day.

Fed Chairman Jerome Powell’s dovish remarks on Friday contributed significantly to the USD’s downturn. Powell hinted at the possibility that the Fed might soon shift from its rate-hiking stance to a more accommodative policy in 2024, stating that it’s premature to assert with certainty the Fed’s attainment of a sufficiently restrictive position or to predict the timing of policy relaxation.

In the US, the manufacturing sector’s momentum remained muted in November. The Institute for Supply Management (ISM) reported that the US ISM Manufacturing PMI remained unchanged at 46.7, below market expectations. Additional data revealed a decline in the Manufacturing Employment Index and a rise in Prices Paid, indicating nuanced shifts in the manufacturing landscape.

Internationally, tensions escalated following an attack on an American warship and commercial vessels in the Red Sea, stoking fears of heightened conflict between Israel and Hamas. Such geopolitical uncertainties may enhance the safe-haven appeal of the USD against its global counterparts.

Meanwhile, in Europe, ECB policymaker and Bank of France Governor Francois Villeroy de Galhau commented last week on the ECB’s cautious stance on interest rates, with potential considerations for reductions later in 2024. Notably, a deceleration in inflation brings the ECB’s 2% inflation target back into focus, suggesting possible monetary policy adjustments.

Market watchers will closely follow upcoming events, including the German Trade Balance data for October and a speech by ECB President Christine Lagarde. These events are expected to provide further direction to the EUR/USD pair.

EUR/USD Technical Outlook

The EUR/USD pair’s recent attempts to breach the 1.0860 level were unsuccessful, but it managed to close last Friday above this mark, maintaining its bullish momentum. The pair aims to test the 1.0960 level, with a potential breach setting sights on 1.1080 as the subsequent main target.

Conversely, a break below 1.0860 could reverse the upward trend, exerting downward pressure with initial targets near the 1.0764 level.

Today’s expected trading range lies between 1.0820 support and 1.0970 resistance, with the trend for the day projected to be bullish.

EUR/USD Live Chart

EUR/USD

Check out our free forex signals

Follow the top economic events on FX Leaders economic calendar

Trade better, discover more Forex Trading Strategies

ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.