🔔🔔🔔EUR/USD news:
➡️ The positive impact of the upbeat PMI data on the US dollar was short-lived, as investors grew increasingly concerned about the outlook for US government debt. President Donald Trump's sweeping tax and spending bill - which is expected to add more than $3 trillion to the national debt over the next decade - was passed by the Republican-controlled House of Representatives on Thursday. The Senate is expected to begin debating the bill after the Memorial Day recess on May 26.
➡️ Meanwhile, the European Central Bank (ECB) reported on Friday that negotiated wage growth slowed to 2.38% in the first quarter, down from 4.12% in the previous quarter. The figure eased concerns about strong wage inflation in the Eurozone and limited the euro's gains for now.
Personal Opinion:
➡️ Concerns about the recent worsening of the US financial situation remain the top priority, putting pressure on the US Dollar. This has caused EUR/USD to rise sharply in the European trading session on Friday and move towards 1.1350.
➡️ However, EUR/USD is overbought, and will have a pullback before continuing its uptrend
➡️ Analysis based on important resistance - support and Fibonacci levels combined with trend lines to come up with a suitable strategy
Personal Plan:
🔆Price Zone Setup:
👉Buy EUR/USD 1.1290 - 1.1300
❌SL: 1.1260 | ✅TP: 1.1345 - 1.1395
FM wishes you a successful trading day 💰💰💰
➡️ The positive impact of the upbeat PMI data on the US dollar was short-lived, as investors grew increasingly concerned about the outlook for US government debt. President Donald Trump's sweeping tax and spending bill - which is expected to add more than $3 trillion to the national debt over the next decade - was passed by the Republican-controlled House of Representatives on Thursday. The Senate is expected to begin debating the bill after the Memorial Day recess on May 26.
➡️ Meanwhile, the European Central Bank (ECB) reported on Friday that negotiated wage growth slowed to 2.38% in the first quarter, down from 4.12% in the previous quarter. The figure eased concerns about strong wage inflation in the Eurozone and limited the euro's gains for now.
Personal Opinion:
➡️ Concerns about the recent worsening of the US financial situation remain the top priority, putting pressure on the US Dollar. This has caused EUR/USD to rise sharply in the European trading session on Friday and move towards 1.1350.
➡️ However, EUR/USD is overbought, and will have a pullback before continuing its uptrend
➡️ Analysis based on important resistance - support and Fibonacci levels combined with trend lines to come up with a suitable strategy
Personal Plan:
🔆Price Zone Setup:
👉Buy EUR/USD 1.1290 - 1.1300
❌SL: 1.1260 | ✅TP: 1.1345 - 1.1395
FM wishes you a successful trading day 💰💰💰
Trade active
Personal plan :
hit + 50 pips from Buy 1.1300
Great
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Related publications
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.