EURUSD analysis week 33
Fundamental Analysis
EUR/USD regained momentum and rose to 1.1020 in the American session on Friday after snapping a three-day winning streak. Upbeat macroeconomic data from the United States boosted the US dollar (USD) and sent EUR/USD lower. The US Department of Labor reported that initial weekly jobless claims fell by 7,000.
Improved risk sentiment on Friday morning made it difficult for the USD to continue Thursday's gains and sent EUR/USD higher. The US economic calendar will feature data on Housing Starts and Building Permits for July. Additionally, the University of Michigan will release preliminary Consumer Sentiment Index data for August. The market reaction to these data may not last long.
Technical Analysis
EURUSD continues to trade in an ascending channel with the nearest support and resistance in the price range at 1.106 and 1.091 after gaining ground above 1.100. On the D1 timeframe, the EMA 34 has crossed well above the EMA 89, indicating a strong bullish market structure, with the upside momentum heading towards the most important resistance around 1.113. On the other hand, any daily close below the 1.1091 support would not confirm a bearish reversal. The pair would need to break the 1.081 support to truly break the bullish structure on the current chart.
Resistance: 1.106-1.113
Support: 1.092-1.081
Trading Signals
SELL EURUSD 1.112-1.114 SL 1.116
BUY EURUSD 1.092-1.090 SL 1.088
EUR/USD regained momentum and rose to 1.1020 in the American session on Friday after snapping a three-day winning streak. Upbeat macroeconomic data from the United States boosted the US dollar (USD) and sent EUR/USD lower. The US Department of Labor reported that initial weekly jobless claims fell by 7,000.
Improved risk sentiment on Friday morning made it difficult for the USD to continue Thursday's gains and sent EUR/USD higher. The US economic calendar will feature data on Housing Starts and Building Permits for July. Additionally, the University of Michigan will release preliminary Consumer Sentiment Index data for August. The market reaction to these data may not last long.
Technical Analysis
EURUSD continues to trade in an ascending channel with the nearest support and resistance in the price range at 1.106 and 1.091 after gaining ground above 1.100. On the D1 timeframe, the EMA 34 has crossed well above the EMA 89, indicating a strong bullish market structure, with the upside momentum heading towards the most important resistance around 1.113. On the other hand, any daily close below the 1.1091 support would not confirm a bearish reversal. The pair would need to break the 1.081 support to truly break the bullish structure on the current chart.
Resistance: 1.106-1.113
Support: 1.092-1.081
Trading Signals
SELL EURUSD 1.112-1.114 SL 1.116
BUY EURUSD 1.092-1.090 SL 1.088
Note
Title update. week 34Note
have a nice week with my strategyNote
EUR/USD rises toward 1.1050 due to dovish Fedspeak
EUR/USD extends its gains for the second successive session, trading around 1.1030 during the Asian hours on Monday. The upside of the pair could be attributed to the rising odds of an interest rate cut by the US Federal Reserve starting in September.
Note
EUR/USD climbs on risk-on sentiment swing, approaches 1.1100
EUR/USD rallied into a half-percent gain on Monday as investors kick off the new trading week with a fresh dog-pile into broad-market buy buttons. The Fiber was bolstered cleanly above 1.1050 and is headed firmly for a retest of the 1.1100 handle.
Note
waiting Plan sell
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