EUR/USD Analysis Today 14/04: Bullish EUR/USD (Chart)

(MENAFN- Daily Forex) EUR/USD Analysis Summary Today

• General Trend: Bullish.
• Today's EUR/USD Support Levels: 1.1300 – 1.1245 – 1.1180 respectively.
• Today's EUR/USD Resistance Levels: 1.1420 – 1.1500 – 1.1585 respectively.

EUR/USD Trading Signals:

• Sell EUR/USD from the resistance level of 1.1420, target 1.1290, stop-loss 1.1510.
• Buy EUR/USD from the support level of 1.1180, target 1.1400, stop-loss 1.1090.

Financial market investors' optimism following Trump's announcement of a 90-day postponement of tariffs, excluding China, helped push the EUR/USD pair to the resistance zone of 1.1473, the highest level for the most popular currency pair in the forex market since February 2022. Undoubtedly, the recent rebound supported the overall bullish outlook for the pair. The question now is: Will the EUR/USD's gains continue in the coming days? And what will affect the recent shift?

The answer to this requires understanding the reaction to the European Central Bank's announcement this week and its vision for the future of its policy in light of the global trade wars led by the US administration, which threaten the future of global economic recovery at a time when the Eurozone is already struggling. This has necessitated historic European intervention led by Germany with financial plans to stimulate the struggling economy.

Forex investors' optimism is increasing. The EUR/USD bullish scenario may strengthen in the coming days, and breaking the 1.1500 resistance level will give bulls the opportunity for a stronger upward move.

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Be careful not to initiate profit-taking selloffs on the EUR/USD pair after the recent gains. We always advise against taking risks, regardless of the strength of the trading opportunities Recommendations and Forecasts:

• Bullish Scenario: The bullish reversal of EUR/USD may extend if bulls return to break the 1.1440 resistance barrier, followed by peaks at 1.1520 and 1.1600 respectively, if traders ignore the overbought barriers of technical indicators.
• Bearish Scenario: May occur with the start of profit-taking selloffs for EUR/USD, and the first station for the reversal will require a move towards the support levels of 1.1230 and 1.1180 respectively.

Trading EUR/USD during the shortened holiday week may focus on the reaction to the European Central Bank's policy announcement on Thursday. The announcement will be at 13:15 Saudi time, and the press conference of the Bank's Governor Lagarde will be at 13:45 Saudi time on the same day. Before the announcement, on Wednesday at 10:00 Saudi time, the Eurozone Consumer Price Index readings, which affect the direction of the ECB's policy, will be announced.

EURUSD Chart by TradingView

Today, Monday, EUR/USD will not witness important and influential economic data, and therefore, the movement will be based on investor sentiment towards currency trading after the recent global developments.

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The content of this analysis reflects the personal opinion of the analyst based on market monitoring and technical indicators. Trading based on this content is the responsibility of the reader, and the website and analyst bear no responsibility for risks arising from the forecasts.

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