EURUSD regains foothold after Bloomberg report suggesting tamer hikes ahead
EURUSD declined yesterday following a Bloomberg report saying that some ECB members were considering a slower pace of tightening. This seems premature at this stage and has been pushed back today at Davos.
The EURUSD daily candlesticks are trading in their bullish channel between the upper blue and red bands (green ellipse). The bottom red Bollinger has turned up, synching with the positive direction of the upper red Bollinger band. This is bullish. The longer this channel is maintained, the greater the likelihood of a higher EURUSD.
The hourly chart shows bullish tendencies, too. Its trend-following EMAs and momentum-based stochastic have both crossed up (black ellipses). If the stochastic makes its way to the upper quintile and holds (blue arrow), an underlying bullish momentum will be present on the hourly time frame.
Russell Shor
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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