empty
04.07.2023 05:20 AM
Forecast for EUR/USD on July 4, 2023

EUR/USD

Yesterday, the euro showed a range of 60 points, closing the day at the opening level. The upper shadow tested the 1.0930 level, and this morning the price is headed towards this mark again, not giving up hope of reaching the upper band of the green descending price channel around 1.0990. This is possible if the euro follows the stock market and employment data turn out worse than expected. For now, the price needs to consolidate above 1.0930. Surpassing yesterday's low at 1.0871 will be a signal for a decline.

This image is no longer relevant

On the 4-hour chart, the price could not consolidate below the balance indicator line and returned to the 1.0910/30 range. Here, it can linger for a while and try to overcome the MACD line around 1.0952. The Marlin oscillator in the positive area is ready to join the growth at any moment.

This image is no longer relevant

Given that we accept the bearish scenario for the euro as the main plan, the price may not overcome the MACD line and return below the range. Like yesterday, uncertainty persists in the short-term perspective.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Yuriy Zaycev
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD. Indicator Analysis on July 17th

On Wednesday, the pair moved upward (on news), reaching the 8-period EMA at 1.3489 (thin blue line), then declined and closed the daily candle at 1.3417. Today, it may continue

Stefan Doll 12:12 2025-07-17 UTC+2

Forex forecast 17/07/2025: EUR/USD, GBP/USD, USD/JPY, SP500 and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 12:08 2025-07-17 UTC+2

EUR/USD. Indicator Analysis on July 17th

On Wednesday, the pair moved upward (on news), reaching the 23.6% level at 1.1739 (yellow dashed line), and then declined, closing the daily candle at 1.1639. Today, it may continue

Stefan Doll 11:45 2025-07-17 UTC+2

EUR/USD. July 17th. Trump Wants to Fire Powell Again

On Wednesday, the EUR/USD pair reached the 100.0% corrective level at 1.1574, rebounded from it, and rose to the 127.2% Fibonacci level at 1.1712, from which it also bounced

Samir Klishi 11:23 2025-07-17 UTC+2

GBP/USD. July 17th. Unemployment in the UK Continues to Rise

On the hourly chart, the GBP/USD pair rebounded on Wednesday from the support zone of 1.3357–1.3371 and rose to the 76.4% corrective level at 1.3470. A rebound from 1.3470

Samir Klishi 11:15 2025-07-17 UTC+2

AUD/USD. The US Dollar Is Increasing Its Pressure

The strong likelihood that the Federal Reserve will not be able to resume cutting interest rates this year is providing significant support for the U.S. dollar. The dollar index

Pati Gani 10:13 2025-07-17 UTC+2

The DXY has the potential to test its pivot level, but there is potential for further strengthening on Thursday, July 17, 2025.

US Dollar Index – Thursday, July 17, 2025 If the pivot and support levels are able to withstand the #USDX's weakening correction in the near term, the #USDX

Arief Makmur 08:47 2025-07-17 UTC+2

The Nasdaq 100 Index has the potential to weaken and fall to its nearest support level on Thursday, July 17, 2025.

Nasdaq 100 Index - Thursday, July 17, 2025 The #NDX price movement is below the EMA(20) and EMA(50), supported by the RSI(14) at a neutral bearish level. Therefore, the #NDX

Arief Makmur 08:47 2025-07-17 UTC+2

Expectations of a Stock Market Decline Through the Lens of the EUR/JPY Cross Rate

Historically, investor flight from the stock market has inevitably been reflected in a decline of the EUR/JPY pair, as it sums up the exit from risk currencies (such

Laurie Bailey 07:41 2025-07-17 UTC+2

Trading Signals for GOLD (XAU/USD) for July 17-21, 2025: buy above $3,329 (200 EMA - 5/8 Murray)

Gold is trading around 3,335, rebounding after reaching a low of 3,320 and a high of 3,377 yesterday during the American session. Gold experienced strong volatility following US President Donald

Dimitrios Zappas 05:58 2025-07-17 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.