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EURUSD 4H : Under sell pressure EURUSD New forecast Trading in the EUR/USD pair fluctuates without support for the ascending channel, waiting to contribute to pushing the price down and stabilizing the price below the 1.0540 level during the coming sessions, remembering that our next target is at 1.0496. Therefore, the downward trend scenario will remain valid and effective supported by 50 moving average that is forms continuous negative pressure against the price, and the price needs to remain below 1.0540 as a first condition for the continuation of the expected decline, as breaching the level of 1.0562 will push the price to test the pivotal resistance 1.0612. The expect range trading for today it will be between the resistance line 1.0612 and support line 1.0462. Additionally ,Today News will affect the market . resistance line : 1.0612 , 1.0632 support line : 1.0540 , 1.0496 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Short
by Arazmajeed
3
EURUSD: ECB President Lagarde Speaks!The EUR/USD experienced a slight increase on a calm Monday in the financial markets. This week, important inflation data will be released, and central bankers will be making speeches. The US dollar weakened moderately on Monday due to a decrease in US yields and a rise in commodity prices. On Monday, data was released showing a decline in the German Ifo, following pessimism triggered by PMI data on Friday. The headline index for June dropped from 91.5 to 88.5, which was below the market's expectation of 90.7. Additionally, the Expectation Index fell from 88.3 to 83.6, and the Current Assessment decreased from 94.8 to 93.7. The European Central Bank's forum on central banking in Sintra has begun, with numerous central bank officials from around the world attending. ECB President Lagarde and other policymakers will be speaking multiple times, starting on Tuesday. If the ECB wants to communicate a message to the market this week, it has an opportunity to do so. It is most likely that they will stick to the current "data-dependent" approach and signal another rate hike in July. Fed Chair Powell will also be speaking at the Sintra forum on Wednesday, but it is unlikely that there will be any surprises
Long
by Sphyn-Trader
2
The European Central Bank continues to raise interest rates Although the eurozone economy is not satisfactory, the European Central Bank's interest rate hike expectations are expected to give the euro some support. HSBC expects the European Central Bank to raise interest rates in June, July and September The eurozone PMI data showed a good pace of expansion, but perhaps the most interesting aspect of the data was the increase in the service sector output price index while the input price index fell. That is, companies have greatly increased prices when the growth of input costs has slowed.Nevertheless, the historically high input prices mean that core inflation will remain on trend, which has prompted the European Central Bank to now expect to raise interest rates in June, July and September. EURUSD is currently at 1.0774, and the important short-term resistance is 1.0845-1.0850 Trading strategy: EURUSD:buy@1.07610-1.07640 tp:1.07710-1.07740 Next, I will continue to provide more trading signals, and the weekly profit can reach more than 5K-10Kusd. If you need signals, join me as soon as possible!
Long
by UnknownUnicorn55305588
EURUSD: Short term bearish lookAlthough it looks like USD had a good week, however, when it comes to fundamentals, both currencies have their own issues, but still USD gained against EUR during the previous week. The ECB is increasing its interest rates amid strong inflation figures, but ECB officials still lack potential to convince markets to buy Euro. At the same time, the US Government is ready to reach its debt ceiling at the beginning of June or eventually July, which increases the probability of the US default on some of its debt obligations in the coming period. Such an event would have a strong impact on all markets around the world, and not just the US market. As per current charts, it looks like the Euro took sort of a short-term bear side. RSI was pushed below level of 50 during the week, reaching the level of 41. It increases the probability of further moves of the pair to the down side, until a clear oversold side is reached. At the start of the week the pair for one more time-tested resistance at 1.1, but without strength to break it, the pair reverted to the downside, and lowest weekly level at 1.084, which is a short-term support line for eurusd. It coincides with the MA50 line. Eurusd will start the week ahead by testing this line. Currently there is a lower probability that this line will be breached to the downside at this moment. On the opposite side, the currency pair might shortly revert to the upside at least to the level of previous highs at 1.1 but it should not be expected that this level will be breached to the upside Important news to watch during the week ahead are: Euro: GDP growth rate, Inflation Rate for April, USD: Retail Sales, Industrial Production, Building Permits Fed Chair Powell speech is scheduled for May 19th, which could bring some increased volatility to the markets.
by XBTFX
EURUSD: The bears will approach the support zone!The currency pair EUR/USD experienced a drop to a fresh low of 1.0790 during the day, after reversing from a significant short-term obstacle. The downtrend is further supported by the breaking of a two-week support line, which is now a resistance level, and the calming uptrend of the MACD line. Additionally, the RSI line (14) has fallen to level 50, indicating the continuation of the downtrend. No information has been omitted from the original text. Therefore, the EUR/USD quotes are set to test the confluence of the 1.0730 support level consisting of the DMA 50 and DMA 21 lines as traders start the important week. Overall, EUR/USD is likely to fall further but the retracement range below 1.0730 appears to be limited.
Short
by Sphyn-Trader
2