U.S. Data Mixed, Dollar Holds Steady
The EUR/USD, known as the “Fiber,” is the world’s most traded forex pair, reflecting the balance between the Eurozone and U.S. economies. Today, Eurozone sentiment showed mild improvement, with Germany’s ifo Business Climate at 89.3 vs. 89.0 and Belgium’s NBB Business Climate rising to -8.3 vs. -8.9, offering modest support for the euro. In the U.S., attention turned to President Trump’s UN speech for potential policy cues, while economic data painted a mixed picture: New Home Sales slightly missed forecasts (650K vs. 652K) but stayed strong, and Crude Oil Inventories surprised with a 0.8M build vs. -9.3M draw, easing supply concerns. Together, these factors set a cautious tone, with EUR/USD traders weighing improving European business sentiment against steady U.S. fundamentals.
Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
From a technical perspective, EUR/USD remains in a steady upward channel, with price currently trading near 1.1815 after bouncing from the lower boundary. The Ichimoku Cloud shows bullish momentum as price holds above the cloud, though resistance around the mid-channel zone could limit gains in the short term. The RSI at 59 signals positive momentum but is not yet in overbought territory, leaving room for further upside. If bulls maintain control, the pair could retest the channel’s upper boundary near 1.1900, while a break back below 1.1760 and the Ichimoku cloud support would shift bias toward consolidation or downside correction.
•DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.
