Euro / U.S. DollarShort
Economic Report: EUR/USD Outlook
This report provides an outlook on the EUR/USD currency pair, which is a popular asset among traders and investors. The market is currently preparing for the Federal Reserve's rate decision and anticipating its impact on monetary policy for the US and major central banks.
Bullish on all Time Frames:
Despite market skepticism towards the central banks' intention to transfer the risk back to the market, a hawkish slant to the Fed's meeting is expected. This could potentially have a significant impact on the EUR/USD currency pair.
The EUR/USD currency pair is showing a bearish trend with fading bullish momentum. This trend is being indicated by the Relative Strength Index (RSI), which is a technical indicator used to measure the momentum of an asset.
Resistance and Support Levels:
The EUR/USD currency pair has resistance levels at 1.0936 and 1.0900. If the currency pair approaches these levels, it may struggle to continue its upward trend. On the other hand, the currency pair has support levels at 1.0774, 0.8800, and 0.8769. These levels could provide support if the currency pair encounters a downward trend.
In conclusion, the market is preparing for the Federal Reserve's rate decision and anticipating its impact on monetary policy for the US and major central banks. The EUR/USD currency pair is showing a bearish trend with fading bullish momentum and resistance levels at 1.0936 and 1.0900, and support levels at 1.0774, 0.8800, and 0.8769. It is important for traders and investors to keep an eye on these levels and the Federal Reserve's rate decision to make informed trading decisions
The information provided by LewkP is for educational and informational purposes only. It should not be considered financial or investment advice. The analysis presented may not be suitable for all investors. Any opinions expressed in this analysis are solely those of LewkP and do not represent the opinions of any other party. LewkP does not provide financial advice and any analysis provided should not be used as the sole basis for making investment decisions. LewkP does not intend for the analysis to be used for intraday trading. LewkP advises that any trading should only be done with caution and only by individuals who are fully in control of their emotions and have a high risk tolerance. LewkP is not responsible for any losses incurred as a result of using the information provided.
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discord.gg/a7sfTVkgxc
I’m part of a free Discord group where we help each other navigate the market and overcome trading challenges. It’s a friendly, supportive community, with members from around the globe.
I’m part of a free Discord group where we help each other navigate the market and overcome trading challenges. It’s a friendly, supportive community, with members from around the globe.
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.