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EURUSD 4H : Support further rise EURUSD New forecast The EUR/USD pair crossed the resistance of the descending channel and settled above it, providing signs of an attempt to start an upward correction in the intraday term, but we notice that the price is returning to providing negative trades, heading towards testing the breached resistance, which is now turning into support at 1.0550. The conflict between technical factors makes us prefer to remain neutral until the price confirms crossing one of the trend keys represented by the support at 1.0550 and the resistance at 1.0631, while breaching the resistance at 1.0631 represents the key to starting the upward correction, whose first target is at 1.0660 and 1.0690. Noting that breaking this support will put pressure on the price to resume the main bearish trend, whose next main target reaches 1.0496. The expect range trading for today it will be between the resistance line 1.0631 and support line 1.0550. Additionally ,Today News will affect the market . resistance line : 1.0612 , 1.0631 support line : 1.0562 , 1.0550 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Long
by Arazmajeed
2
Affirming the position of the common currency imposed by the US The European Union (EU) and the United States are planning to create a common tariff area, imposing tariffs on steel and aluminum imports from economies such as China, under their export theme. European Commission on EU-US consensus. Based on sources from Politico, according to this agreement, they will impose a tax of 25% on steel and 10% on aluminum. This is favorable to the goal of creating a “club of like-minded economies” and would impose tariffs on imports from economies seen as a reservoir of support for the sectors. as important as steel and clean technology. The US and EU are still negotiating on how to establish this “globally oriented club” as a solution to the transatlantic dispute over aluminum and steel. Tensions date back to US President Donald Trump. In 2018, Mr. Trump imposed high tariffs on steel and aluminum imports from around the world, including from the EU, claiming that it was for national security reasons. This is to confirm the intention to merge the position of these two common currencies
Short
by NicoTradingMaster
EURUSD and future cooperation predictionsAccording to Politico sources, the deal would impose tariffs of 25% on steel and 10% on aluminum. The agreement creates a "club of like-minded economies" and aims to impose tariffs on imports from economies deemed to provide subsidies to key sectors such as steel and clean technology. It is said that The US and EU are still negotiating plans to create this "global club" as a solution to transatlantic disputes over aluminum and steel. These tensions date back to the era of former US President Donald Trump. In 2018, Trump imposed high tariffs on steel and aluminum imports from around the world, including the European Union, for national security reasons. According to the EU proposal, EU Commission President Ursula von der Leyen seeks to get closer to the US to overcome the dispute, with the aim of presenting a united transatlantic front against China. ing. Kwok.
Long
by Chart_MasterPro
EURUSD decreased then increased againThe euro EURUSD ticked up nearly 0.2% to $1.0549 after taking a tumble overnight against the dollar, while sterling GBPUSD was last trading over 0.2% higher at $1.2202. Investors also digested producer and consumer prices data out of China on Friday that showed deflationary pressures were slightly stronger than expected. "What we've got is a fairly weak growth story (from China), and that's weighing on the price numbers," said Rob Carnell, regional head of research in the Asia-Pacific region at ING. He added that the government could feel pressure to offer further support to the economy, albeit limited.
Long
by FalCol_TradingMaster
EUR/USD Soars as Euro Defies the Dollar's Decline - Crucial DataEUR/USD EUR/USD briefly rose above 1.0630, making modest gains after hitting monthly lows. The Euro is in a critical area, waiting for more US inflation data. It benefits from the US Dollar's weakness due to declining yields and positive market sentiment. The recent US Producer Price Index increase didn't greatly affect the Dollar, and the latest FOMC minutes emphasized a data-dependent policy approach. Thursday's economic calendar includes ECB minutes and the US Consumer Price Index, with potential market impact hinging on CPI performance. Based on technical analysis, the EUR/USD rose on Wednesday, pushing towards the upper band of the Bollinger Bands. Currently, the EUR/USD is trading below the upper band, while the bands are trending upwards, suggesting the potential for another upward move to retest the upper Bollinger Band. The Relative Strength Index (RSI) stands at 62, indicating that the EUR/USD is currently attempting to establish a bullish bias. Resistance: 1.0674, 1.0736 Support: 1.0583, 1.0530
by Think_More
The EU plans an anti-subsidy investigation to secure a steel deaThe conduct of an anti-subsidy investigation against steel manufacturers will be announced at a summit with the US on October 20. InternationalEU plans an anti-subsidy investigation to secure a steel agreement with My Phuong Nhi • October 11, 2023 19:19 The conduct of an anti-subsidy investigation with steel manufacturers will be announced at a summit peak with the US on October 20. Recently, the European Union (EU) said it is planning an anti-subsidy investigation against steel manufacturers in China and other countries. This is part of an agreement with the United States to end tariffs under former US President Donald Trump, Reuters reported on October 10. The Financial Times reported that the EU planned to announce the investigations, shortly after the meeting of US President Joe Biden and European Commission President Ursula von der Leyen and European Council President Charles on September 1. October 20 is here.
Long
by Chart_MasterPro
EURUSD is trending downSupport for lower EUR/USD remains in early 4Q but becomes less clear in November and December, when seasonality indicates a weak USD and positive risk appetite, SEB Research analysts say in a note. "However, in October, the relative rate spread tends to be supportive of a lower EUR/USD," they say. Current macroeconomic trends also support a stronger USD, with the soft-landing narrative and "higher for longer" monetary policy stance having a strong hold on markets, they say. The euro trades 0.1% lower at $1.0538.
Short
by FalCol_TradingMaster
EURUSD has an uptrendEURUSD on Monday fell by -0.79% and matched last Thursday’s 8-3/4 month low. The euro was under pressure Monday after the 10-year T-note yield climbed to a 16-year high, which strengthened the dollar’s interest rate differentials versus the euro. Monday’s comments from ECB Vice President Guindos supported the euro when he said interest rates at their current levels will help bring down inflation to the ECB's 2% target and that talk of rate cuts by the ECB is premature. Monday’s Eurozone economic news was bullish for the euro after the Eurozone Aug unemployment rate fell -0.1 to match the record low of 6.4%, right on expectations. OANDA:EURUSD BUY 1.0459 - 1.0469 🔽🔽 ✔️TP: 1.0500 ❌SL: 1.0429
Long
by FalCol_TradingMaster
EURUSD is trending downIn the wider currency market, the euro EURUSD lost 0.07% to $1.0565, after ending the previous quarter with a 3% fall, its worst performance in a year. The Euro fell sharply after breaking the key support level of 1.0580. The currency touched a low of 1.0488 and rebounded from there. Resistance levels for the Euro are at 1.06 and then in the 1.0670-1.0700 zone. If the recent recovery momentum is maintained, the Euro could rebound to the 1.06-1.07 mark. However, the possibility of an increase beyond 1.07 is unlikely. The short-term outlook remains bearish. Therefore, we can expect the Euro to fall to 1.04 next week, or to rise to 1.06-1.07 and then adjust back to 1.04. OANDA:EURUSD SELL 1.0568 - 1.0578 🔽🔽 ✔️ TP: 1.0530 ❌ SL: 1.0600
Short
by FalCol_TradingMaster
1
EURUSD | Strong US Dollar, But Why?The value of the US dollar continues to rise Today on September 30, one Euro cost only $1.0573 and markets have finally come to the realization that the Federal Reserve is going to continue to fight inflation till it achieves its target goals, and, to do so, it will even raise its policy rate of interest one..or, possibly two...more times! even Jamie Dimon, CEO of JPMorgan, is now saying that interest rates could hit 7.0 percent. "Are you prepared?" Dimon asks It seems as if market participants have doubted Fed Chairman Jay Powell ever since the Federal Reserve began to raise its policy rate of interest in the middle of March 2022.The underlying belief was that Mr. Powell and the Fed would "back off," not wanting to overdue a tight monetary policy and cause financial distress. So, the value of the U.S. dollar remained softer than many expected and the US stock market stayed stronger than many expected.But, seemingly, that time has changed. When did market attitudes change? Let's say toward the end of July 2023. That is, market participants only became "believers" after 16 months of the Federal Reserve raising its policy rate of interest and maintaining its effort at quantitative tightening. Why have I determined that market attitudes changed around the end of March? On July 14, 20232, one Euro cost $1.1230. The price of one Euro has declined almost steadily since that time.The dollar price of the British pound took a similar path.The yield on the 10-year U.S. Treasury note on July 14, 2023, was 3.820 percent. Currently, the yield is 4.620 percent. On July 31, the S&P 500 stock index closed at 4,589. The price has been downhill for most of the following period.The story that the markets seem to be telling us is that sometime in the middle of July 2023, market participants started taking the Federal Reserve at its word. Since then, the value of the U.S. dollar became stronger and stronger, as investors bought into the dollar.Bond prices fell and stock prices declined as investors sold these items. All of this is consistent with the fact that investors really started to believe that Mr. Powell and the Federal Reserve were going to do what it said it had set out to do.The Fed, market participants believed, going to continue to fight inflation and were going to bring the rate of price increases down to the level the Fed wanted...2.0 percent. In this past week, the Federal Reserve published its latest round of forecasts for the future. This release was followed by a new set of forecasts by the U.S Commerce Department. inflation and unemployment would approach the Fed's goals within the next year or so. The feeling expressed in both forecasts was that the Fed is succeeding in its efforts to get the economy back to a "more normal" rate of operation. Mr. Powell and other Federal Reserve leaders continued to caution the investment community to "be patient." But, the underlying message seemed to be, we are approaching what we set out to achieve. Bottom line, Mr. Powell and others were saying...be patient...after 18 months of quantitative tightening..we are getting there.It seems as if the markets have been right on the side of the Federal Reserve at this time. What the Fed has done supports a strong dollar relative to other currencies throughout the world.The US dollar deserves to be strong.But, there is still a way to go. The Fed may be getting the car in the garage, but the car is not fully in the garage yet...and the garage door has not been shut.Let's hope the job can be completed. Unfortunately, there may be some fiscal discomfort taking place before the final chapters are written. The potential government shutdown is not good news.
by moonypto