⚡️ EURUSD Outlook for week 40
Updated
⚡️ EUR/USD trades at 1.0572, registering marginal gains of 0.06%, as softer German inflation data and US government shutdown fears impact prices. US Core PCE data reveals a 3.9% YoY increase, below the expected 4%, diminishing chances for a November rate hike by the US Federal Reserve.
⚡️ A daily close below the 1.0600 mark for EUR/USD could see the pair extending its losses towards the November 30, 2022, swing low at 1.0290.The EUR/USD clings to its early gains after traveling towards a daily high of 1.0617 but offers dragged prices below the 1.0600 mark. This happened despite data from the United States (US) diminishing the chances for a November rate hike by the US Federal Reserve (Fed)
⚡️ The US Bureau of Economic Analysis (BEA) revealed the latest inflation report, preferred by the Fed, as the Core Personal Consumption Expenditures (PCE), which excludes volatile items rose by 3.9% YoY, below July’s 4%. The same report showed that headline inflation stood at 3.5%.
⚡️ The H4 chart shows that the price line is operating stably below the EMA, the relative strength index (RSI) is stable, the main trend is still down.
⚡️Psychology, discipline and capital management are the three factors that make victory possible.⚡️
⚡️ A daily close below the 1.0600 mark for EUR/USD could see the pair extending its losses towards the November 30, 2022, swing low at 1.0290.The EUR/USD clings to its early gains after traveling towards a daily high of 1.0617 but offers dragged prices below the 1.0600 mark. This happened despite data from the United States (US) diminishing the chances for a November rate hike by the US Federal Reserve (Fed)
⚡️ The US Bureau of Economic Analysis (BEA) revealed the latest inflation report, preferred by the Fed, as the Core Personal Consumption Expenditures (PCE), which excludes volatile items rose by 3.9% YoY, below July’s 4%. The same report showed that headline inflation stood at 3.5%.
⚡️ The H4 chart shows that the price line is operating stably below the EMA, the relative strength index (RSI) is stable, the main trend is still down.
⚡️Psychology, discipline and capital management are the three factors that make victory possible.⚡️
Note
Trade active
Trade active
Note
⚡️Everything is going according to planNote
⚡️ The Euro succumbs to further US Dollar’s strength. Stocks in Europe open Tuesday’s session on the defensive. EUR/USD retreats to new 2023 lows around 1.0460.
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.