EURUSD The Euro fell to 1.1670 on Friday, positioning for nearly a 1% weekly loss 📊, as investors recalibrated risk exposure amid escalating trade tensions ⚔️ and shifting monetary policy signals 🏦.
📉 Market Structure:
🔻 EURUSD has traded in a bearish trend since July 1.
🔹 Support levels: 1.1680 and 1.1590.
🔹 Retested the 1.1680 support zone on Friday.
💡 How to Trade This:
✅ If the pair rebounds from support 🔄, consider BUYING with a Take Profit near the next resistance level.
❌ If the support breaks with confirmation 🩻, consider SELLING to target lower support zones.
📰 What’s Driving the Move?
🏦 Monetary Policy:
Chicago Fed President Austan Goolsbee pushed back against calls for aggressive rate cuts 🗣️, reaffirming the Fed’s focus on its dual mandate of maximum employment and price stability ⚖️. His cautious stance adds uncertainty 🤔 to the policy outlook for the second half of the year as markets weigh inflation risks vs. growth slowdown signals.
💼 Economic Data:
The labor market remains solid 💪, but recent jobless claims data show early signs of cooling 🧊, following last week’s strong NFP report.
💵 Dollar Strength:
The dollar advanced sharply against the euro 🚀, driven by risk aversion, relative yield advantages, and investor positioning ahead of upcoming inflation data and the Fed’s next policy signals 📈.
🚨 Watch for:
🔸 A confirmed breakout or rebound at 1.1680 to guide trade entries.
🔸 Upcoming U.S. inflation data 🪙 for direction on Fed policy and USD strength.
🔸 Further developments in trade tensions 🌐, which could drive risk sentiment.
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.
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.