The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
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The EUR/USD pair is showing limited ability to build on yesterday's rebound from the 1.1530 level — the lowest level seen since November 2025 — and on Wednesday continues to decline for the third consecutive day. Spot quotes have fallen below the 1.1600 level today, remaining under pressure and vulnerable to further losses.
The lack of signs of de-escalation in the large-scale conflict in the Middle East is heightening concerns about the inflationary consequences of a prolonged confrontation. Against this backdrop, expectations for more decisive monetary easing by the Federal Reserve are diminishing, which supports safe-haven demand for the US dollar. The US Dollar Index (DXY), which reflects the performance of the American currency against a basket of major currencies, maintains bullish momentum and remains near the three-month high reached on Tuesday, creating additional pressure on the euro.
Another negative factor for the euro is concern about the impact of a closure of the Strait of Hormuz, which threatens disruptions to energy supplies from a key oil-producing region. Given the European economy's dependence on oil and gas imports, further increases in energy prices could trigger serious economic consequences. This intensifies pressure on the single currency and confirms the short-term downward movement of the EUR/USD pair.
Today, to identify better trading opportunities, attention should be paid to releases from the eurozone, which may provide short-term guidance ahead of US macroeconomic data. Wednesday's US statistics include the ADP private-sector employment report and the ISM Services PMI. Nevertheless, geopolitical developments remain the key driver of investor sentiment, continuing to shape demand for the dollar as a safe-haven asset.
Overall, fundamental factors indicate that the EUR/USD pair maintains a downward trajectory, and in the near term the risks of further euro weakening prevail.
From a technical perspective, the EUR/USD pair is struggling to benefit from yesterday's rebound. Oscillators on the daily chart remain negative. The Relative Strength Index is close to oversold territory, allowing the pair to correct slightly from the February low. However, bulls lack sufficient strength to reach the important 200-day simple moving average. Therefore, at present, bears hold the advantage.
The table below shows the percentage change of the US dollar against major currencies for the current week. The US currency recorded its strongest gain against the Swiss franc.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
