empty
26.01.2023 02:22 PM
EUR/USD drops ahead of US data, 1.0926 as key level

The EUR/USD pair is trading in the red at 1.0897 on the H1 chart at the time of writing. The bias remains bullish despite temporary retreats. The price could come back to test and retest the near-term support levels. DXY rebounded a little, that's why the USD appreciated.

Still, today the fundamentals could drive the price. It remains to see how it reacts after the Advance GDP will be released. The indicator is expected to register a 2.6% growth, while Advance GDP Price Index could report a 3.2% growth less versus the 4.4% growth in the previous reporting period. New Home Sales, Core Durable Goods Orders, Durable Good Orders, and Unemployment Claims should bring strong action as well.

EUR/USD Temporary Drop?

This image is no longer relevant

Technically, the rate found resistance at 1.0926 again and it has failed to stay above the weekly R1 (1.0910). Now, it's almost to hit the uptrend line. This stands as dynamic support.

As long as it stays above it, the EUR/USD pair could still resume its growth. You already know from my analyses that, the rate was expected to extend its upwards movement after escaping from the extended range.

EUR/USD Forecast!

Testing and retesting the uptrend line followed by a bullish closure above 1.0926 is seen as a buying signal.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USD/JPY: Simple Trading Tips for Beginner Traders on May 6th. Review of Yesterday's Forex Trades

Trade Review and Tips for Trading the Japanese Yen The price test at 143.34 coincided with the moment when the MACD indicator had just started moving up from the zero

Jakub Novak 10:33 2025-06-06 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on May 6th. Review of Yesterday's Forex Trades

Trade Review and Tips for Trading the British Pound The price test at 1.3600 in the second half of the day coincided with the moment when the MACD indicator

Jakub Novak 10:29 2025-06-06 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on May 6th. Forex Trade Review

Trade Review and Tips for Trading the Euro The price test at 1.1440 coincided with the moment when the MACD indicator had just started moving upward from the zero mark

Jakub Novak 10:27 2025-06-06 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on June 5th (U.S. Session)

Trade Analysis and Tips for Trading the Japanese Yen The price test at 143.25 during the first half of the day occurred when the MACD indicator had moved significantly above

Jakub Novak 19:58 2025-06-05 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on June 5th (U.S. Session)

Trade Analysis and Tips for Trading the British Pound The price test at 1.3566 during the first half of the day occurred when the MACD indicator had moved significantly above

Jakub Novak 19:56 2025-06-05 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on June 5th (U.S. Session)

Trade Analysis and Tips for Trading the Euro The price test at 1.1427 occurred when the MACD indicator had moved significantly above the zero line, which limited the upward potential

Jakub Novak 19:51 2025-06-05 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on June 5. Review of Yesterday's Forex Trades

The price test at 144.06 coincided with the moment when the MACD indicator had just started moving downward from the zero line, confirming a correct entry point for selling

Jakub Novak 09:01 2025-06-05 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on June 5. Review of Yesterday's Forex Trades

The price test at 1.3529 in the second half of the day coincided with the moment when the MACD indicator had just started moving upward from the zero line, confirming

Jakub Novak 09:01 2025-06-05 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on June 5. Review of Yesterday's Forex Trades

The test of the 1.1396 price level coincided with the moment when the MACD indicator had just started moving upward from the zero line. This confirmed a correct entry point

Jakub Novak 09:01 2025-06-05 UTC+2

Intraday Strategies for Beginner Traders on June 5

The euro and pound continued to rise, along with other risky assets, while the US dollar weakened, which is not surprising - especially given such data. Weak ADP employment data

Miroslaw Bawulski 08:10 2025-06-05 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.