EUR/USD Forex Signal Today 27/03: Crash Continues (Chart)

(MENAFN- Daily Forex) Bullish view

• Buy the EUR/USD pair and set a take-profit at 1.0900.
• Add a stop-loss at 1.0690.
• Timeline: 1-2 days.

Bearish view

• Sell the EUR/USD pair and set a take-profit at 1.0690.
• Add a stop-losss at1.0850.

The EUR/USD exchange rate has retreated this week as the US dollar bounced back. It retreated for six straight days, reaching a low of 1.0753, its lowest level since March 5 of this year. So, what next for the EUR/USD pair ahead of key US and European inflation numbers?European and US inflation data ahead

The EUR/USD exchange rate has dropped sharply and retested the 50-day moving average this week. This retreat continued even after the US Conference Board published weak consumer confidence data. The report showed that confidence dropped to its lowest level in months this month as concerns about tariffs remained.

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The EUR/USD continued falling after Donald Trump unveiled tariffs on imported vehicles ahead of his planned reciprocal tariffs day on April 2. In a statement on Wednesday, Alberto Musalem, the head of St. Louis Fed, warned that tariffs will make it almost impossible for the Federal Reserve to hit its 2% inflation target.

Looking ahead, the pair will react to several important economic data from the US and Europe. The US will publish the third estimate of fourth-quarter GDP data on Thursday. Economists expect the data to show that the GDP grew by 2.3% in Q4 after growing by 3.1% a quarter earlier.

The US will also release the initial and continuing jobless claims data. The most important data to watch this week will be the US Personal Consumption Expenditure (PCE) data on Friday. This is an important data to watch because of it looks at change of prices in urban and rural areas.

The EUR/USD pair will also react to preliminary inflation data from France and Spain. Eurostat will also release the latest European consumer and business confidence data.

EURUSD Chart by TradingViewEUR/USD technical analysis

The EUR/USD exchange rate has pulled back in the past few days. After peaking at 1.0935 this month, it dropped to a low of 1.0755. It has moved between the 50% and 61.8% Fibonacci Retracement point.

The ongoing retreat is part of the formation of a cup and handle pattern, a popular bullish sign. It has also remained above the 25-day moving average.

The pair will likely continue falling and retest the 50% retracement level at 1.0686, and then then resume the uptrend to 1.0945.

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