Solid News

EURUSD Market Update

3/22/2023 12:00 PM

Against a slight decrease in the US dollar, the EUR/USD pair is moving within a corrective trend at 1.0769.

There are no drivers capable of radically changing the direction of dynamics for the European currency, which is confirmed by the latest macroeconomic statistics: the index of current economic conditions in Germany from the Center for European Economic Research (ZEW) amounted to –46.5 points in March, lower than –45.1 points earlier, while economic sentiment dropped to 13.0 from 28.1. Against this background, the overall similar value for the EU countries also decreased significantly, dropping to 10.0 points from 29.7 points. Experts note that the banking crisis contributed primarily to the correction.

The US dollar is falling, trading at 102.800 in the USD Index, ahead of the US Federal Reserve's monetary policy meeting. The main scenario assumes a 25.0 basis point increase in the interest rate, and about 60.0% of experts are in favor of it but the rest of the respondents believe that the regulator will take a break to give the banking sector time to stabilize, reducing pressure on the economy. In general, such steps of the department look quite logical since the uncertainty in the country's banking system remains.


On the daily chart, the trading instrument is correcting within the global ascending corridor with dynamic boundaries 1.0560–1.1180.

Technical indicators reversed upwards: fast EMAs on the Alligator indicator crossed the signal line upwards, and the AO histogram is forming correctional bars in the buying zone.

Resistance levels: 1.0820, 1.0950. | Support levels: 1.0680, 1.0520.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Call Us
+35 924 928 392


Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using solidecn.com you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2023 SolidECN.com