EUR/USD Analysis Today 15/4: Bullish Stability (Chart)

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

• Overall Trend: Still bullish.
• Today's Euro Dollar Support Levels: 1.1290 – 1.1225 – 1.1180 respectively.
• Today's Euro Dollar Resistance Levels: 1.1400 – 1.1480 – 1.1565 respectively.

EUR/USD Trading Signals:

• Sell EUR/USD from the resistance level of 1.1410 with a target of 1.1280 and a stop-loss at 1.1500.
• Buy EUR/USD from the support level of 1.1190 with a target of 1.1420 and a stop-loss at 1.1080.

The EUR/USD pair remains stable near the 1.14 resistance, the highest for the currency pair in three years. Currently, EUR/USD is trading around the 1.1340 level at the time of writing the analysis, awaiting further impetus to complete the bullish reversal. During last week's trading, EUR/USD achieved gains of 3.6 percent. Its gains primarily increased amid escalating global trade tensions and growing uncertainty regarding US tariff policy, which reignited recession fears and weakened investor confidence in US assets.

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According to currency experts, the Euro's trading and continued gains will depend on the reaction to the European Central Bank's policy meeting results next Thursday at 14:15 Egypt time. In this regard, financial markets widely expect a 25-basis point interest rate cut. Investors will closely monitor comments from ECB officials regarding the impact of trade tensions on the Eurozone economy and the future path of interest rates.

On the economic front, according to the results of economic data from the economic calendar, today, Tuesday, EUR/USD trading will focus on the release of the German ZEW Economic Sentiment Index at 11:00 Egypt time, amid strong expectations of weakening sentiment and confidence due to increasing US trade wars with major economic blocs, including the Eurozone Tips:

EUR/USD is currently cautious and in a neutral position with an upward bias, awaiting further impetus/USD Signals and Forecasts:

EUR/USD Bullish Scenario: Based on the performance on the daily chart, the EUR/USD pair's upward trend may extend with a break of the 1.1400 resistance, which could increase technical buying activity and thus prepare for bullish breakouts. Keep in mind that moving towards this peak and higher is encouraged by the announcement. The 14-day RSI, Stochastic, and MACD indicators are moving towards strong overbought levels. Dear trader, be careful not to initiate profit-taking selloffs if the euro does not receive further stimulus.

EUR/USD Decline Scenario: On the same timeframe as the daily chart, the overall outlook for the EUR/USD will shift to a bearish trend as a first step, returning to the support levels of 1.1200 and 1.1120. A complete change in trend requires a break of the 1.10 psychological level and then to the more important 1.0880 support, a symbol of bears regaining control of the general trend.

EURUSD Chart by TradingViewEUR/USD Technical Analysis Today:

The direction of the EUR/USD pair remains upward as long as it stays above the psychological level of 1.1000. I have often mentioned in the technical analyses of EUR/USD the break of that area and its importance for the bulls to prepare for more control. Taking into account that the continuous fluctuations in global trade policy may cause strong and sudden movements in EUR/USD trading in the coming days. The direction of the Simple Moving Average (SMA) still indicates the strength of the bullish reversal. On the fundamental analysis side, EUR/USD will continue to be affected in the coming days by the future of global central bank policies, the extent of investors' risk appetite, and the future recovery of the Eurozone economy.

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