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EURUSD: Correction of the uptrend!US Dollar's position as the primary global reserve currency is being challenged Over the past two decades, the proportion of the US Dollar in the global market has declined from 71 percent to 59 percent. There is a possibility that this share may decrease even further in the future. This situation adversely affects the United States since currency usage in global trade is a zero-sum game. Whenever a Yuan, real, or Rupee is traded on the global market, a Dollar is not. If other trustworthy alternatives become popular, it may compromise America's dominance in the global market.
Long
by Sphyn-Trader
EUR/USD Bullish Outlook still strong?The EUR/USD chart has recently displayed bullish tendencies, but how long can this upward trend continue? Our previous weekly technical analysis anticipated a reaction at the support level of 1.09098. As expected, the price reached this demand zone on April 17th, indicating significant buying pressure. While the daily timeframe seems bullish, the pair hit a critical resistance level at 1.10422. Price is currently trading above the 20-day EMA, but the MACD histogram shows weakening momentum, suggesting the support level of 1.09098 might fail soon. The 4-hour EUR/USD chart displays sideways movement within the 1.09098 and 1.10422 range. The 1-hour chart reveals a failed support level at 1.10090, now acting as resistance. A rejection at this level could lead to a break below the uptrend line, testing the main support at 1.09098, with potential for a bearish move. Several factors could influence the EUR/USD price next week, including the crucial support level of 1.0930, the S&P Global Composite PMI in the US, the ongoing natural gas shortage in the Eurozone, and geopolitical events such as trade disputes. Keep an eye on upcoming high-impact news events to stay informed and trade responsibly. Please hit the boost to support and follow me! for more updates.
by ClintOnos
EURUSD: Influence from USDUSD: Ugly inflation promises further flight to safety! The Federal Reserve is concerned with increasing prices, which are not decreasing at all. The highest level of inflation is not even visible yet, and it is expected to be in the future. This confirms that the bank will increase interest rates by 75 basis points for the fourth consecutive time in its November meeting, with a range of 3.75-5%. Additionally, it indicates that the peak rate will be 4.8% by March, which is higher than the bank's previous projections. The anticipation of higher interest rates is causing stress in the global financial system, prompting investors to seek refuge in the US dollar.
Short
by Sphyn-Trader
EURUSD set for a drop!Currency Pair : EURUSD Possible direction : Bearish Technical Analysis : Price has just grabbed liquidity again on the 4h and started to drop after few days of consolidation. Weekly and monthly price is overextended to the upside may come down for a pullback. as the price still did not test the daily 20EMA, highly likely price will continue to drop as there is an imbalance toward the downside to daily support zone Possible trade recommendation : Bearish as per chart sketch Fundamental : Multiple high impact may put pressure on EUR Press like button if you enjoy. Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and is not suitable for all investors. Past performance is not indicative of future results. The high degree of leverage is dangerous and can work against you as well as for you. Before deciding to invest in foreign exchange or any market you should carefully consider your investment goals, level of experience, and risk tolerance. It is EXTREMELY LIKELY that you will sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. No representation is being made that any account will or is likely to achieve profits or losses. Past performance is not indicative of future results. Individual results vary and no representation is made that clients will or are likely to achieve profits or incur losses comparable to those that may be shown. You acknowledge and agree that no promise or guarantee of success or profitability has been made between you, and Forex Trading Wizard. Do your own research and talk to a professional financial planner in order to be aware of all the risks associated with foreign exchange trading and investing and seek advice from an independent financial advisor before risking any capital.
Short
by ForexWizard01
EURUSD: The influence of USD!Hi trader, you look great today! The recent rise in CPI indicates that the Federal Reserve is unlikely to make any significant changes in their policies this year. While there are signs of fatigue among those who hold USD long positions, the prevailing trend is still towards a stronger dollar. Unfortunately, global growth is not synchronized at the moment, which would typically lead to a weaker dollar. Other factors that could weaken the dollar, such as China's move away from a zero-covid policy or the resolution of European energy concerns, are not expected to have an impact anytime soon. The possibility of a Fed pivot is also a distant prospect. Hot CPI means the Fed pivot is well beyond the horizon
Short
by Sphyn-Trader
EURUSD: Energy emergency program!Hello trader, do you think? During the ECB Watchers conference, ECB President Lagarde reiterated last week's decision, with a greater emphasis on the hawkish elements than the dovish ones. She emphasized the baseline scenario of ending APP in Q3 and interest rate hikes occurring sometime thereafter when discussing normalization. The most important aspect of her remarks is the focus on being "creative" and "designing new instruments" if necessary to address any threat to monetary policy transition and fragmentation. This is a strong indication of the possibility of an energy emergency program similar to PEPP, which could serve as a massive energy backstop. Such a program could counteract the negative effects of higher oil prices and encourage more investment in Europe, ultimately supporting the euro. Energy emergency program could drive more flows to Europe
Long
by Sphyn-Trader
EURUSD: Short term increase!Hello trader, What do you think? According to our projections, there will be a rate hike of 25 basis points in May and another rate hike of 25 basis points in June, resulting in the ECB's Deposit Rate peaking at 3.50% for this cycle. We believe that the current market pricing, which suggests a peak policy rate of approximately 3.09%, is insufficient compared to our expectations. Our optimistic outlook for the Euro's strength against the USD in the medium term is primarily driven by our confident predictions for the ECB policy. Further ECB tightening supporting outlook for medium term strength
Long
by Sphyn-Trader
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‼️EURUSD SHORT‼️The market conditions for EURUSD are currently lucid and comprehensible. There is a significant volume pressure indicating a downward trend. We anticipate that the price will gather liquidity just above before continuing on a downward trajectory. Our analysis has identified two areas that may serve as strong supply zones. It is prudent to wait for the price to reach these regions before seeking CHoCH (confirmation of change) and any other confirmation signals indicating a new downward trend. Risk management remains paramount in all trading decisions. It is imperative to exercise patience and wait for confirmation before executing any trades. If you have any questions, please do not hesitate to comment below. Wishing you peace, @FxShzd team
Short
by FxShzd
EURUSD Technical Analysis and Trade IdeaThis video offers a comprehensive analysis of the EURUSD, concentrating on its recent trading patterns. It's worth noting that a significant resistance level has been reached, and a price gap exists below it. Bigger players may look to attack sell-side liquidity resting under in the form of stop losses. The video delves into various topics such as trend analysis, price action, market structure, and price gaps. Furthermore, it briefly mentions a potential trade opportunity.
Short
by fxtraderanthony
EURUSD Technical Analysis and Trade IdeaThis video offers a comprehensive analysis of the EURUSD, concentrating on its recent trading patterns. It's worth noting that a significant resistance level has been reached, and a price gap exists below it. Bigger players may look to attack sell-side liquidity resting under in the form of stop losses. The video delves into various topics such as trend analysis, price action, market structure, and price gaps. Furthermore, it briefly mentions a potential trade opportunity.
Short
by fxtraderanthony