The EUR/USD price jumped as high as 1.1830 today, where it has found strong resistance. Now it is trading lower at 1.1786 just above 1.1781 static support. It has gained after the ECB Monetary Policy Statement and after the Main Refinancing Rate publication. –Are you interested to learn more about forex options trading? Check our detailed guide- As you already know, the European Central Bank left its interest rate and the asset purchase program unchanged in today’s meeting. The interest rate could remain at the current levels or lower until inflation reaches 2%. The US Dollar dropped after the unemployment claims release. The indicator was reported higher at 419K versus 350K expected. Euro is still weak as the Euro-zone Consumer Confidence dropped further from -3 to -4 points, even if the analysts have expected the indicator to remain steady. On the other hand, the Greenback has managed to gain again in the last hours even if the US existing home sales and the CB leading index failed to meet expectations. Get FREE Forex Signals Now! DXY price technical analysis DXY price on 4-hou chart The DXY dropped and retested the up trendline, rising wedge support, and now is located at 92.77 level higher versus 92.50 today’s low. Additionally, it has registered only a false breakdown with great separation through the descending pitchfork’s median line (ml), signaling strong bullish pressure. –Are you interested to learn about forex robots? Check our detailed guide- EUR/USD price technical analysis EUR/USD price 4-hour chart DXY’s rebound forced the EUR/USD to drop far below the falling wedge resistance. As a result, it’s challenging the former down trendline and the 1.1781 level. Closing this candle around these levels and registering a false breakout with great separation could indicate strong selling pressure. As you already know from my previous analysis, only a valid breakout from this pattern activates an upwards movement. We cannot exclude a decline towards the S1 (1.1755) if it closes under 1.1781. It’s hard to believe that the EUR/USD pair could make an upside breakout soon. Most likely, it will drop deeper. However, I believe that only better than expected Eurozone data reported tomorrow and poor US figures could lift the pair again. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Olimpiu Tuns Olimpiu Tuns Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms. View All Post By Olimpiu Tuns EUR/USD Daily share Read Next GBP/USD Outlook: More Gains on Cards Albeit Delta Can Still Cap Saqib Iqbal 4 months The EUR/USD price jumped as high as 1.1830 today, where it has found strong resistance. Now it is trading lower at 1.1786 just above 1.1781 static support. It has gained after the ECB Monetary Policy Statement and after the Main Refinancing Rate publication. -Are you interested to learn more about forex options trading? Check our detailed guide- As you already know, the European Central Bank left its interest rate and the asset purchase program unchanged in today's meeting. The interest rate could remain at the current levels or lower until inflation reaches 2%. The US Dollar dropped after the unemployment… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.