2025-04-23 09:45

The EUR/USD forecast suggests a shift in sentiment after downbeat Eurozone PMI data. The Eurozone composite PMI dropped from 50.9 to 50.1, indicating weaker business activity. The dollar soared after Trump reassured markets that he had no intention of firing Powell. The EUR/USD forecast suggests poor sentiment after downbeat Eurozone business activity data. At the same time, the dollar recovered after Trump paused his attacks on Fed Chair Powell. Market participants are now awaiting US PMI figures. -Are you interested in learning about the forex indicators? Click here for details- The Eurozone composite PMI dropped from 50.9 to 50.1, indicating weaker business activity. Meanwhile, economists had expected a smaller drop to 50.3. Business activity in the manufacturing sector improved slightly. However, service sector activity dropped. So far, the Eurozone has escaped a 20% reciprocal tariff on its exports to the US. However, policymakers believe Trump’s tariffs will hurt the economy. Still, it might not be as bad as in the US. Meanwhile, the dollar held steady after a relief rally in the previous session. The greenback soared after Trump reassured markets that he had no intention of firing Powell. His attacks on the Fed Chair had raised concerns about the central bank’s independence. Trump believes Powell should react faster to the recent economic slowdown by cutting interest rates. However, the Fed Chair believes it is too early to judge the impacts of recent trade policy changes. Market participants will watch the upcoming US PMI report to see the state of business activity in the economy. A poor report might add pressure on the Fed to lower borrowing costs. EUR/USD key events today US flash manufacturing PMI US flash services PMI EUR/USD technical forecast: Deep pullback signals stronger bearish momentum On the technical side, the EUR/USD price has broken below major support levels, suggesting stronger bearish momentum. After meeting the 1.1550 resistance level, bears emerged and pushed the price below a solid support trendline. After that, the price broke below the 30-SMA, showing bears were ready to take charge. At the same time, the RSI dipped below 50 into bearish territory. However, bears must break below the 1.1302 support level to make a lower low and confirm a new downtrend. Such a move would allow EUR/USD to reach the 1.1002 key level. However, if the 1.1302 support holds firm, bulls might return to retest the 1.1550 barrier. https://www.forexcrunch.com/blog/2025/04/23/eur-usd-forecast-eurozone-reports-weak-activity-data/

2025-04-23 08:33

The USD/JPY price analysis shows a relief rally in the dollar. Trump told reporters he had no intention of removing Powell from office. Market participants are expecting business activity data from the US. The USD/JPY price analysis shows a relief rally in the dollar after Trump paused his attacks on the Fed. Meanwhile, market participants are awaiting US business activity data for further clues on future Fed policy moves. -Are you interested in learning about the forex indicators? Click here for details- The USD/JPY pair rose on Tuesday after Trump told reporters he had no intention of removing Powell from office. Initially, the dollar had collapsed amid threats to fire the Fed Chair. Trump was calling for the US central bank to lower borrowing costs and support the slowing economy. However, Powell has maintained a cautious tone, waiting for more evidence on inflation and growth. Trump’s policy announcements in recent weeks have caused wild swings in the market. Initially, they cause a plunge before he softens his stance, causing a relief rally. However, all this has caused more uncertainty about the stability of US assets. Therefore, although the dollar recovered, the outlook remains bleak. Meanwhile, market participants are expecting business activity data from the US. Upbeat figures might support the dollar. On the other hand, downbeat figures would increase recession concerns, putting pressure on the Fed to cut rates. In Japan, the BoJ will likely pause at its May 1 meeting. However, analysts believe policymakers will maintain a hawkish tone due to a strong labor market and steady inflation. USD/JPY key events today US flash manufacturing PMI US flash services PMI USD/JPY technical price analysis: Price pauses to retest its channel resistance On the technical side, the USD/JPY price has risen to retest the 142.02 key level and its bearish channel resistance. At the same time, the price is retesting the 30-SMA and has gone slightly above it. This is a sign that bulls are challenging the downtrend. The RSI has also broken above 50, suggesting stronger bullish momentum. However, the price recently made a lower low, continuing its downtrend. Moreover, it has maintained its decline in a bearish channel with clear support and resistance levels. Therefore, if the price remains within this channel, it will soon bounce lower to retest the 140.01 support level. On the other hand, if bulls gain enough strength, they might trigger a break above the channel resistance. Such an outcome would signal a bullish sentiment shift. https://www.forexcrunch.com/blog/2025/04/23/usd-jpy-price-analysis-gains-after-trump-halts-fed-criticism/

2025-04-22 09:19

The GBP/USD price analysis points to further upside for the pound. Trump is exploring ways to remove Fed Chair Powell from office. Trump’s aggressive policies have clouded the outlook for the US economy. The GBP/USD price analysis points to further upside for the pound as it rides the recent wave of dollar weakness. The dollar remained frail on Tuesday after dropping in the previous session due to Trump’s attacks on the Federal Reserve. -Are you interested in learning about the forex indicators? Click here for details- On Friday, reports surfaced that the US president was exploring ways to remove Fed Chair Powell from office. The news led to a renewed dollar sell-off, allowing the pound to resume its rally. Furthermore, Trump continued his attacks on Powell on Monday. The president demanded that the Fed Chair lower interest rates to support the economy. The ongoing conflict between the government and the central bank has further eroded investor confidence. The volatile nature of financial markets has caused uncertainty. As a result, traders are dumping US assets for more stable ones. Trump’s attack on Powell shows he is ready to undermine the independence of the central bank. Powell has maintained a cautious tone, calling for patience on rate cuts. Meanwhile, Trump’s aggressive policies have clouded the outlook for the US economy. Still, Powell wants to ensure that inflation does not rise before cutting interest rates. GBP/USD key events today Market participants do not expect any high-impact reports from the US or the UK. Therefore, they might wait on the sidelines for PMI data. GBP/USD technical price analysis: Bulls pause for breath after 1.272 Fib break On the technical side, the GBP/USD price is retreating after breaking past the 1.272 Fib extension level. Despite the pullback, the price remains well above the 30-SMA, with the RSI near the overbought region. Therefore, the bullish bias is strong. The pause might allow GBP/USD to retest the 1.272 Fib before climbing higher. It will also allow the SMA to catch up with the price, giving bulls the push they need to reach new highs. The next target is at a solid resistance zone comprising the 1.618 Fib extension and the 1.3500 key psychological level. A break past this level will indicate solid bullish momentum. However, there is also a chance the uptrend will pause at this zone. Still, the bullish trend will continue if the price stays above the SMA. https://www.forexcrunch.com/blog/2025/04/22/gbp-usd-price-analysis-more-upside-as-greenback-falters/

2025-04-22 08:14

The EUR/USD outlook suggests further weakness for the dollar. The dollar collapsed as Trump continued attacking Powell. Traders await the US and Eurozone PMI figures, due on Wednesday. The EUR/USD outlook suggests further dollar weakness as Trump continues his criticism of Fed Chair Powell. As a result, the euro is holding firm as investors lose confidence in the stability of the US economy. Meanwhile, market participants are awaiting the release of crucial PMI data. -Are you interested in learning about the forex indicators? Click here for details- The euro remained steady on Tuesday, following new highs reached in the previous session amid dollar weakness. The dollar collapsed after Trump went on to attack Powell, calling him a loser. The US president has been telling the Fed to lower borrowing costs and support the economy. Trump is now growing concerned about the state of the economy following his aggressive tariff moves. However, Powell has remained calm amid the storm of tariffs. The Fed Chair has maintained that there is no hurry to lower interest rates. Policymakers are waiting to see whether tariffs have reheated inflation before lowering borrowing costs. The ongoing attack on the Fed Chair has threatened the central bank’s independence. At the same time, investors are losing confidence in the stability of US markets. Consequently, most are shifting to other economies, such as the Eurozone. Elsewhere, the US and Eurozone PMI figures, due on Wednesday, will indicate the state of both economies, which will impact the EUR/USD price. EUR/USD key events today Market participants do not expect any key economic releases from the Eurozone or the US. Therefore, the pair might consolidate. EUR/USD technical outlook: Uptrend pauses to revisit the 1.1502 level On the technical side, the EUR/USD price has pulled back to retest the recently broken 1.1502 key level as support. The price recently reached a new high, further strengthening the bullish bias. Moreover, the price trades far above the 30-SMA, and the RSI is above 50, showing bulls are still in the lead. If the 1.1502 level holds firm as support, the price will bounce higher for a new high. Such an outcome would allow EUR/USD to reach the 1.1602 key level. However, if the price breaks below the support level, it may drop to retest the 30-SMA. If the SMA holds firm, bulls will return to seek new highs. On the other hand, a break below the SMA would signal a shift in sentiment, allowing bears to reach the 1.1302 support level. https://www.forexcrunch.com/blog/2025/04/22/eur-usd-outlook-trumps-attacks-on-powell-weigh-on-dollar/

2025-04-21 10:30

The EUR/USD outlook indicates further dollar weakness. Reports revealed that the US president plans to fire Fed Chair Jerome Powell. The European Central Bank cut rates last week, leaving room for more. The EUR/USD outlook indicates further dollar weakness after Trump’s threats to fire Fed Chair Powell. Market participants are dumping the greenback and US assets, allowing the euro to climb. Meanwhile, the ECB indicated weaker growth in the Eurozone due to Trump’s tariffs. As a result, traders are pricing more rate cuts in the coming months. -Are you interested in learning about the forex indicators? Click here for details- On Friday, reports revealed that the US president plans to fire Fed Chair Jerome Powell. Since Trump took office, he has advised the Fed to continue cutting interest rates. However, Powell has remained cautious, waiting to see the impact of recent tariffs on the economy. The Fed Chair has repeatedly said there is no hurry to lower borrowing costs. The reports caused more turmoil in markets recovering from wild tariff moves. Moreover, investors lost confidence in the US economy, plunging the dollar. Meanwhile, although the euro rallied, the European Central Bank cut rates last week and left room for more. ECB president Christine Lagarde noted that Trump’s tariffs would hurt growth. However, she failed to give clear guidance about the next meeting. Still, market participants expect another rate cut in June. Meanwhile, policymakers may wait to see if Trump’s 20% tariff on the Eurozone takes effect. EUR/USD key events today Traders are not anticipating any key economic releases today. Therefore, they will continue to digest US policy developments. EUR/USD technical outlook: Uptrend breaks past 1.1502 for a new high On the technical side, the EUR/USD price has rallied and broken above the 1.1502 resistance level. The move has reached a new high, further strengthening the bullish bias. The price now trades well above the 30-SMA, with the RSI in the overbought region. This shows a strong uptrend. Bulls took charge when the price crossed above the 30-SMA. They have maintained the price above the SMA, respecting it as a solid support. At the same time, the price has consistently made higher highs and lows, indicating a developed bullish trend. However, bulls might pause at the 1.1602 resistance to allow the price to retest the SMA. Still, the bullish bias will remain intact as long as the price trades above the SMA and the RSI above 50. https://www.forexcrunch.com/blog/2025/04/21/eur-usd-outlook-dollar-takes-a-hit-as-white-house-targets-fed/

2025-04-21 08:32

The USD/JPY forecast indicates weaker investor confidence in the US economy. The Trump administration hinted at plans to fire Fed Chair Jerome Powell. Data last week revealed stronger-than-expected sales in the US. The USD/JPY forecast indicates weaker investor confidence in the US economy following Trump’s comments, threatening the Fed’s independence. As a result, market participants are dumping the dollar and buying the safer yen. -Are you interested in learning about the forex indicators? Click here for details- On Friday, the Trump administration hinted at plans to fire Fed Chair Jerome Powell, causing panic among traders. Since he came into office, the US president has wanted the Fed to continue its easing cycle. However, Powell has maintained a cautious tone, saying there was no hurry to lower borrowing costs. The Fed Chair believes the central bank needs more time to assess the impact of Trump’s tariffs. Trump’s comments raised fears that he would undermine the independence of the US central bank. Such an outcome would further lower investor confidence in the US economy. Already, Trump’s wild tariffs have dimmed the economy’s outlook. If his administration takes control of monetary policy, the outlook could worsen. Meanwhile, data last week revealed stronger-than-expected sales in the US. The upbeat report pointed to robust consumer spending. However, analysts believe future reports will better capture the impact of Trump’s tariffs. This week, traders will focus on PMI data for further clues on the state of the economy. Elsewhere, speculators bet on a stronger yen due to expectations for more rate hikes by the BoJ. USD/JPY key events today Market participants do not expect any key economic releases from Japan or the US today. Therefore, the pair might extend last week’s moves. USD/JPY technical forecast: Bears head for the 140.01 support On the technical side, the USD/JPY price has broken below the 142.02 key support level, resulting in a lower low. At the same time, the price has swung well below the 30-SMA, showing bears have a solid lead. Meanwhile, the RSI trades in the oversold region, indicating solid bearish momentum. Bears have maintained control since they broke below the SMA. The price has traded in a bearish channel with clear support and resistance lines. Currently, USD/JPY is approaching the channel support. At the same time, it is nearing the 140.01 key level. A break below will strengthen the bearish bias. However, the price might pause or pull back before continuing lower. https://www.forexcrunch.com/blog/2025/04/21/usd-jpy-forecast-trump-comments-on-fed-wavered-risk-mood/