🟢 EURUSD chart analysis for the upcoming new week, April 7, 2025 #forexlive #honeyforex

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The EUR/USD forecast is looking bearish this week, with the pair struggling to gain traction above 1.1000. Here's a breakdown of the current situation:

*Current Price and Outlook*

The EUR/USD is currently trading around 1.0930, with the US Dollar Index (DXY) gaining strength and putting pressure on the pair. The Relative Strength Index (RSI) on the 4-hour chart has retreated to 60, indicating a loss of bullish momentum.¹

*Key Support and Resistance Levels*

- Support levels: 1.0950, 1.0900 (20-period Simple Moving Average), and 1.0855 (100-period Simple Moving Average)
- Resistance levels: 1.1100 (static level, round level) and 1.1150 (multi-month high)

*Fundamental Analysis*

The US Dollar's recovery is largely driven by growing fears of stagflation in the US, following President Trump's tariff announcements. The Federal Reserve's cautious stance on rate cuts has also contributed to the Dollar's strength. Meanwhile, the European Central Bank (ECB) is expected to maintain its dovish stance, which could further weaken the Euro.

*Technical Analysis*

Traders are watching the 1.1000 level closely, as a failure to reclaim this level could lead to a decline towards 1.0950 and potentially lower. Conversely, a strong bounce from the current levels could see the pair target 1.1100 and above.

Some analysts are predicting a potential drop to 1.09000, citing the pair's failure to break above key resistance levels. Others see a V-shape recovery, with the pair potentially targeting 1.1160/1180.²

*Weekly Forecast*

Based on current trends and analysis, the EUR/USD is expected to remain under pressure this week. Traders should keep a close eye on key economic indicators, including the US Nonfarm Payrolls (NFP) report and the Federal Reserve's policy decisions, for further direction.

For the most up-to-date information and expert analysis, consider visiting financial websites like TradingView or Finnhub.³ ⁴

Видео 🟢 EURUSD chart analysis for the upcoming new week, April 7, 2025 #forexlive #honeyforex канала Honey Forex
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