By Ion Jauregui - Analyst ActivTrades
The EURUSD pair remains one of the key indicators in the currency markets, reflecting investors' perception of the relative strength of the euro against the dollar. The upcoming Ecofin and Eurogroup meeting will be closely watched. Any hints about the eurozone economic outlook that emerge at these meetings can generate movements in the EURUSD, as investors adjust their expectations based on the projected economic health of the region. The corporate earnings season continues to be relevant for the pair. European heavyweights such as Volkswagen (ETR:VOWG_p) and Henkel (ETR:HNKG_p), along with other firms, present figures that can either strengthen or weaken confidence in the European economy. This sentiment is reflected in the performance of the euro against the dollar.
The performance of major indices in Asia, along with recent results from US markets, also impacts the EURUSD. Declines in indices such as the Nikkei, Hang Seng and Shanghai Composite, as well as declines in the S&P 500, Nasdaq and Dow Jones, reflect a cautious global environment that influences currency dynamics.
Macroeconomic Data
Key indicators include debt auctions in Europe and the JOLTs survey of job openings in the United States. These data offer insight into fiscal health and the labor market, respectively, and are instrumental in adjusting investors' expectations regarding the strength of the euro versus the dollar.
EURUSD Analysis
Looking at the chart the long term trend in weekly focus is downtrend. If we look at the 1 hour chart we can see how since the beginning of February the value of the euro has recovered in the direction of its highs of November last year. RSI indicates oversold at 69.95% which could extend to touch the indicated highs. The 50,100 and 200 averages crossover continues to indicate a certain extension of the price, so a test and perforation of the value of 1.09296 this month is foreseeable.
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The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
The EURUSD pair remains one of the key indicators in the currency markets, reflecting investors' perception of the relative strength of the euro against the dollar. The upcoming Ecofin and Eurogroup meeting will be closely watched. Any hints about the eurozone economic outlook that emerge at these meetings can generate movements in the EURUSD, as investors adjust their expectations based on the projected economic health of the region. The corporate earnings season continues to be relevant for the pair. European heavyweights such as Volkswagen (ETR:VOWG_p) and Henkel (ETR:HNKG_p), along with other firms, present figures that can either strengthen or weaken confidence in the European economy. This sentiment is reflected in the performance of the euro against the dollar.
The performance of major indices in Asia, along with recent results from US markets, also impacts the EURUSD. Declines in indices such as the Nikkei, Hang Seng and Shanghai Composite, as well as declines in the S&P 500, Nasdaq and Dow Jones, reflect a cautious global environment that influences currency dynamics.
Macroeconomic Data
Key indicators include debt auctions in Europe and the JOLTs survey of job openings in the United States. These data offer insight into fiscal health and the labor market, respectively, and are instrumental in adjusting investors' expectations regarding the strength of the euro versus the dollar.
EURUSD Analysis
Looking at the chart the long term trend in weekly focus is downtrend. If we look at the 1 hour chart we can see how since the beginning of February the value of the euro has recovered in the direction of its highs of November last year. RSI indicates oversold at 69.95% which could extend to touch the indicated highs. The 50,100 and 200 averages crossover continues to indicate a certain extension of the price, so a test and perforation of the value of 1.09296 this month is foreseeable.
*******************************************************************************************
The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
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.