Recent Performance: The EUR/USD currency pair has struggled this week,
demonstrating a consistent bearish trend. Dropping from around 1.07276, the
euro is facing downward momentum, recently hitting a support level at
1.05087. With this decline, the euro is positioned for potential shorts,
reflecting a significant weakening against the US dollar.
- Key Insights: The strength of the US dollar continues to heavily influence
global markets, particularly the euro and gold. As the euro has hit a
52-week low recently, this weak performance signals possible short trading
opportunities. Market participants are advised to consider shorting the euro
given the bearish outlook and current sentiment surrounding the currency
pair.
- Expert Analysis: Market experts are largely bearish on the euro, expecting a
potential continuation of this bearish trend in the weeks to come. The
creator of recent analysis anticipates the EUR/USD attempting a bearish
breakout below the 1.05087 level, expecting the pair to reach a target of
1.03920 within the next two weeks. The overall outlook remains heavily
influenced by the strength of the US dollar.
- Price Targets: Based on the wisdom of all professional traders, the price
targets and stop levels for this week are as follows:
- Next week targets: Target 1: 1.03920, Target 2: 1.03500
- Stop levels: Stop 1: 1.05200, Stop 2: 1.05500
- Longer-term targets: The longer-term target for the euro within the next
month might be projected towards 1.02500, if current bearish trends persist,
especially around the next economic data releases.
- News Impact: Notable events impacting the euro include potential trade tariffs
from the US that could adversely affect the Eurozone economy. Additionally,
CPI reports from the Eurozone and anticipated movements from the European
Central Bank (ECB) regarding interest rate cuts may provide further
catalysts influencing the EUR/USD dynamics in the upcoming weeks. Overall,
global economic trends are increasingly critical for EUR trading strategies
moving forward.
demonstrating a consistent bearish trend. Dropping from around 1.07276, the
euro is facing downward momentum, recently hitting a support level at
1.05087. With this decline, the euro is positioned for potential shorts,
reflecting a significant weakening against the US dollar.
- Key Insights: The strength of the US dollar continues to heavily influence
global markets, particularly the euro and gold. As the euro has hit a
52-week low recently, this weak performance signals possible short trading
opportunities. Market participants are advised to consider shorting the euro
given the bearish outlook and current sentiment surrounding the currency
pair.
- Expert Analysis: Market experts are largely bearish on the euro, expecting a
potential continuation of this bearish trend in the weeks to come. The
creator of recent analysis anticipates the EUR/USD attempting a bearish
breakout below the 1.05087 level, expecting the pair to reach a target of
1.03920 within the next two weeks. The overall outlook remains heavily
influenced by the strength of the US dollar.
- Price Targets: Based on the wisdom of all professional traders, the price
targets and stop levels for this week are as follows:
- Next week targets: Target 1: 1.03920, Target 2: 1.03500
- Stop levels: Stop 1: 1.05200, Stop 2: 1.05500
- Longer-term targets: The longer-term target for the euro within the next
month might be projected towards 1.02500, if current bearish trends persist,
especially around the next economic data releases.
- News Impact: Notable events impacting the euro include potential trade tariffs
from the US that could adversely affect the Eurozone economy. Additionally,
CPI reports from the Eurozone and anticipated movements from the European
Central Bank (ECB) regarding interest rate cuts may provide further
catalysts influencing the EUR/USD dynamics in the upcoming weeks. Overall,
global economic trends are increasingly critical for EUR trading strategies
moving forward.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.