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Key Points
- Fed Chair Jerome Powell stated, "Current economic conditions show there is no need to rush into rate cuts," hinting at a potential adjustment in the pace of rate cuts.
- U.S. October retail sales rose by 0.4% MoM, beating the market's forecast of 0.3%, weakening market expectations for a December rate cut.
- The Atlanta Fed's GDPNow model maintains its forecast for U.S. Q4 growth at an annualized rate of 2.5%, suggesting continued solid growth in the fourth quarter.
- The U.S. Dollar Index dipped slightly, weighed down by concerns over recent gains.
Key Economic Indicators
- November 19: Eurozone October CPI
- November 20: U.K. October CPI
- November 21: U.S. Initial Jobless Claims
EUR/USD Chart Analysis
The EUR/USD pair broke below the 1.07500 level, showing a sharp decline. However, it is rebounding near the anticipated support level around 1.05000. A short-term uptrend is expected from the current range, with a potential target near 1.08000.
On the other hand, if it breaks below the 1.04500 level, a pullback toward the 1.01000 area is likely. In this case, a quick strategy adjustment will be made.
It's great to have you all here. Please feel free to share your personal opinions in the comments. Don’t forget to like and subscribe!
Key Points
- Fed Chair Jerome Powell stated, "Current economic conditions show there is no need to rush into rate cuts," hinting at a potential adjustment in the pace of rate cuts.
- U.S. October retail sales rose by 0.4% MoM, beating the market's forecast of 0.3%, weakening market expectations for a December rate cut.
- The Atlanta Fed's GDPNow model maintains its forecast for U.S. Q4 growth at an annualized rate of 2.5%, suggesting continued solid growth in the fourth quarter.
- The U.S. Dollar Index dipped slightly, weighed down by concerns over recent gains.
Key Economic Indicators
- November 19: Eurozone October CPI
- November 20: U.K. October CPI
- November 21: U.S. Initial Jobless Claims
EUR/USD Chart Analysis
The EUR/USD pair broke below the 1.07500 level, showing a sharp decline. However, it is rebounding near the anticipated support level around 1.05000. A short-term uptrend is expected from the current range, with a potential target near 1.08000.
On the other hand, if it breaks below the 1.04500 level, a pullback toward the 1.01000 area is likely. In this case, a quick strategy adjustment will be made.
네이버 카페 :
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
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.
네이버 카페 :
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
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.