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EUR/USD Follows Bullish Path Post-CPI; Buy Limit Strategy FocusEUR/USD experienced a significant upward movement on Wednesday, driven by an overall increase in market risk appetite following the release of a cooler-than-expected US Consumer Price Index (CPI) inflation report. This positive sentiment was initially bolstered as the lower inflation figures suggested a potential easing of pressure on the Federal Reserve to raise interest rates aggressively. However, the enthusiasm was tempered later in the day due to the Federal Reserve’s hawkish stance reflected in its latest update to the dot plot of interest rate expectations. This update indicated a possibility of more rate hikes in the future than previously anticipated, which crimped market sentiment. From a technical standpoint, the price action adhered closely to our earlier analysis. The EUR/USD pair achieved all the take-profit targets we had established beforehand. Post-FOMC meeting, the price action retraced the gains from the CPI-induced bullish impulse, creating a gap in the market. This gap, left by the rapid price movement following the CPI release, typically attracts market participants looking to "fill" it, as prices often return to these levels to establish more balanced trading conditions. Given the current scenario, we are contemplating a strategic approach involving a potential buy limit order. This approach is based on the expectation that the price will return to cover the unfilled gap left by the CPI announcement. The buy limit order would allow us to enter the market at a more advantageous price point, capitalizing on the anticipated retracement. Additionally, the broader economic context and market sentiment will be closely monitored to adjust our strategy as needed, ensuring that our trading decisions are well-informed and responsive to ongoing developments. In conclusion, while the EUR/USD pair has shown resilience and upward momentum, the mixed signals from recent economic data and Fed communications warrant a cautious yet opportunistic approach. By setting a buy limit order, we aim to leverage the expected price correction, positioning ourselves to benefit from subsequent bullish movements.
Long
by FOREXN1
1
EUR/USD Awaits Volatility Ahead of Key US Data and FOMC DecisionThe EUR/USD pair is currently oscillating within a narrow range of 1.0750 - 1.0722 during the Asian session on Wednesday, consolidating the losses accumulated over the past three days. This period of consolidation comes as traders adopt a cautious approach, awaiting significant economic events before committing to new directional bets. Market Sentiment and Upcoming Economic Data The subdued trading activity can be attributed to the anticipation surrounding the release of the US consumer inflation figures and the crucial Federal Open Market Committee (FOMC) decision. Both events are expected to have a substantial impact on market volatility and could provide fresh momentum for the EUR/USD pair. US Consumer Inflation Figures The US Consumer Price Index (CPI) data, particularly the Core CPI m/m, is a key indicator of inflation and is closely watched by market participants. The data release is expected to shed light on the current inflationary pressures within the US economy and influence the Federal Reserve's monetary policy stance. Strong inflation data could bolster expectations of a hawkish Fed, potentially supporting the US Dollar and putting further pressure on the EUR/USD pair. FOMC Decision In addition to the inflation data, the FOMC decision is another critical event on the horizon. The Federal Reserve's policy statement and subsequent press conference will provide insights into the central bank's economic outlook and future policy actions. Traders will be particularly interested in any indications regarding the timing of interest rate hikes or tapering of asset purchases. A more hawkish stance could lead to increased demand for the US Dollar, impacting the EUR/USD pair. Technical Perspective From a technical standpoint, the EUR/USD pair is currently in a phase of consolidation. The price is hovering around the support level at 1.0722 and resistance at 1.0750. The market is awaiting the release of the Core CPI m/m and the FOMC decision to trigger the necessary volatility for a significant price movement. Given the current technical indicators and market sentiment, we are looking for a potential long impulse once the data is released. In conclusion the EUR/USD pair remains in a tight range as traders await key economic data and the FOMC decision. The outcome of these events will likely determine the next directional move for the pair. From a technical perspective, we anticipate a bullish impulse following the release of the US inflation figures and the FOMC announcement, provided the data supports such a move. Traders should prepare for heightened volatility and be ready to adjust their positions accordingly.
Long
by FOREXN1
1
EUR/USD Longs 1.08300I'm expecting the price to retrace back down to the 4-hour demand zone. Once it reaches this level, I'll wait for price accumulation to buy back up. If the price breaches this zone due to the Asian low underneath, I'll be more interested in the 6-hour demand zone right below, which looks more probable. I anticipate the price to rise and take out the pool of liquidity around the Asian high region. Once this liquidity is taken, I expect the price to slow down and enter the 11-hour supply zone, where we can look for potential selling opportunities. Confluences for EU Buys are as follows: - The Demand zone has caused a CHOCH to the upside. - Lots of liquidity to the upside as well as that wick that needs to get filled. - Price is already been bullish so this is a pro-trend trade. - In order for price to keep going up it must retrace and enter these key levels to trigger a rally. P.S. Since the price hasn't broken another level of structure as I expected, the 6-hour extreme looks more appealing to me. We'll see what the price decides to do on Monday. Have a great trading week and thanks for 1k followers!
Long
by Hassan_fx
1
EURUSD - in strong downtrendEURUSD - May 31, 2024 Today EURUSD stays in a downtrend, yesterday`s restoration turned into short-lived and the pair remains on course to attain 1.0800 once more withinside the early buying and selling hours of the month. weekend session. Accordingly, the outlook remains favorable for dealers while EURUSD remains beneath many vital resistance stages and regularly lowering in step with the energetic Trendine line. In addition, with the growing probability that the ECB will lessen hobby fees earlier than the Fed, the opportunity of the EUR/USD trade price persevering with to weaken wishes to be taken into consideration withinside the medium term.
Short
by TheLeader_WOLF
EURUSD: EURUSD analysis todayRecent information confirmed that US client charges fell in April, main to marketplace expectancies of a 50 foundation factor hobby fee reduce this year. However, warning from diverse Fed officers has tempered those expectancies, with buyers now predicting round forty six foundation factors of easing, merely factoring in fee cuts for November. In early buying and selling on Monday, the euro rose barely to $1.087525, drawing close a almost two-month excessive of $1.0895 reached final week. The greenback index, a gauge towards six important currencies, confirmed little change, status at 104.forty six.
Long
by Chart_MasterPro
Euro Price analysis 19 May 2024Weekly: In the weekly chart the price is forming W-MSS+. So we could anticipate that the price will go up towards the level 1.09812. Weekly Bias: Bulish Daily: The price has formed D-MSS+ with D-FVG+. & the price has been Rejected form the D-FVG+. So the nearest target the price will go towards the D-BSL 1.08951 level. Daily Bias: Bullish H1: The price has been formed a H1-MSS+ from a D-FVG+ level. so its a clear sign of bullish movement of the price. there are 2 Points that is good for opening a long position, 1. If the price touches the H1-FVG then a m15 Bullish Mss formed in this level then we can go for the long. 2. If the price touches the H4-BPR, then a m15 bullish mss formed then we can go for a long.
Long
by Trader_PKR
Euro's Path Ahead: Short-Term Struggles, Long-Term Triumphs**Current Momentum and Market Sentiment:** The EUR/USD pair is currently experiencing a challenging period, struggling to maintain bullish momentum. Despite a significant rally in recent months, the pair has recently faced resistance and corrective movements. The European Central Bank's (ECB) actions, including recent interest rate hikes and upward revisions to inflation forecasts, have supported the Euro, but market skepticism remains due to varying global economic conditions and the Federal Reserve's cautious stance on future rate hikes. **Technical Analysis and Key Levels:** The Euro is trading above its 20-year cycle support line, a critical historical level that previously led to a five-year rally after being broken in January 2003. The current price action, characterized by consistent volume buildup, suggests underlying strength. However, the momentum observed from January 2017 to late 2021 has been less stable, influenced heavily by the COVID-19 pandemic and subsequent economic measures. For the short term, the EUR/USD is anticipated to continue facing volatility. The immediate resistance is noted around 1.1050, with support around 1.0800. A potential target by the end of 2024 is 1.169941, assuming stabilization in interest rates and continued economic recover. ### Long-Term Forecast (Next 2-5 Years) **Macroeconomic Factors:** Long-term prospects for the Euro will largely depend on several macroeconomic factors, including the ECB's monetary policy, inflation trends, and economic growth in the Eurozone. The structural reforms and fiscal policies adopted by member countries will also play a crucial role in shaping the currency's trajectory. **Historical Context and Future Projections:** Reflecting on the historical context, the Euro's previous rally post-2003 lasted five years until the 2008 financial crisis. Given the current economic landscape, a similar prolonged uptrend could emerge if global economic conditions stabilize and Eurozone economies demonstrate robust growth. Over the next 2-5 years, the Euro might target higher levels, potentially reaching or exceeding the 1.2000 mark, driven by economic resilience and a balanced approach to monetary tightening by the ECB. However, this projection is contingent on the absence of significant geopolitical disruptions and a steady recovery from the pandemic-induced economic downturn. ### Conclusion In summary, while the Euro shows potential for both short-term gains and long-term growth, it remains subject to market volatility and economic uncertainties. Investors should closely monitor ECB policies, global economic indicators, and geopolitical developments to make informed decisions. The anticipated stabilization of interest rates by the end of the year provides a cautiously optimistic outlook for the Euro, aiming for a target of 1.169941 by year-end and further growth in the following years.
Long
by wikitrades
1
🌟 EUR/USD Channel breakout ..BUY for further upside move🔥👉🏻EUR/USD has continued the bounce from 1.0725 that started last Thursday, and the pair is now re-testing the 200-day moving average. 👉🏻EUR/USD had previously tested the 200-dma as resistance on NFP Friday, which led to a pullback. But bulls held a higher-low at prior resistance of 1.0725 and that’s allowed for another re-test of the moving average. 👉🏻The big question now is how the USD and related pairs, especially EUR/USD, perform around the Wednesday release of CPI.
Long
by The_Bitcoin_Daddy
1