EURO: Start of the uptrend
Updated
I think the euro has reached a price floor. And by reaching the range of 1.1550, it has gathered the potential of an uptrend. Inflation in the euro area also reached 3.4 percent, and a comparison of GDP figures shows that the GDP growth of the euro area was higher than the dollar.
In terms of technical analysis, prices have fallen below the weekly Ichimoku cloud. In my opinion, the Ichimoku weekly cloud can be a strong support and resistance. There is also a tweezers pattern on a daily basis.
However, the price may be low this week and the climb will start in mid-October.
References :
GDP of US dollars
Euro GDP
CPI EUR
30-year bonds
10-year bonds
In terms of technical analysis, prices have fallen below the weekly Ichimoku cloud. In my opinion, the Ichimoku weekly cloud can be a strong support and resistance. There is also a tweezers pattern on a daily basis.
However, the price may be low this week and the climb will start in mid-October.
References :
GDP of US dollars
Euro GDP
CPI EUR
30-year bonds
10-year bonds
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With the rise of US inflation in November, and the highest inflation recorded in the last 30 years, the euro fell from 1.1600 to 1.1450. My analysis so far has been in the wrong direction.I believe that by comparing the US and European economic news, the fall of the euro is nearing its end and we will soon see an upward trend. But the price may fall to the range of 1.2700.
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