EUR/USD hesitates on war in Israel, ahead of several key events

After a bearish first part of the day, due to risk aversion linked to the war between Israel and Hamas, the EUR/USD pair canceled its its losses, to finally post a neutral daily balance sheet.

However, the underlying bias remains bearish for the Euro Dollar, and the fall could resume at a faster pace. any time. Furthermore, from a fundamental perspective, this week's economic calendar will feature several key risks that should prompt forex traders to invest. caution.

As for this Tuesday, it is mainly speeches from the Fed that will be expected, and it will be particularly interesting to analyze the content of the central bankers' comments. the light of the war which has just broken out in the Middle East.

Tomorrow will then be the occasion for the American IPP, as well as the Fed Minutes, before the final IPC on Thursday. Note that these events could largely influence expectations for the next Fed meeting.

>> Find the results of all the important statistics in real time for EUR/USD on the Economic Calendar

À In this regard, we note that the rate barometer testifies this Tuesday morning to a probability of by only 13% that the Fed raises its rates on November 1, compared to 25% last week.

Technical thresholds at watch on EUR/USD

From a graphical point of view, the trend of EUR/USD remains clearly bearish, facing a downward trend. immediate resistance to 1.06 and 1.0635 approximately. Beyond that, the downward trend has been active since the summer peak. last one will be questioned.

In this case, 1.07 will be next bullish objective, before 1.0770, then 1.08, and 1.0820-40, an area where; the 100 and 200 day moving averages converge.

On the downside, 1.05 is the first potential support, before the new annual low marked last week at 1.0448.

EUR/USD hesitates on war in Israel, ahead of several key events  

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