📈 Welcome, traders! Today, we'll analyze EUR/USD's fundamental factors.
Economic data: The eurozone released some mixed economic data on Thursday. German exports and imports both fell in June, but the Producer Price Index (PPI) declined less than expected. On Friday, Germany will release factory orders data, while the eurozone will release retail sales data.
Central bank policy: The European Central Bank (ECB) is expected to keep interest rates unchanged at its meeting on July 21. However, the ECB is facing increasing pressure to raise rates in order to combat inflation. The US Federal Reserve is also expected to raise rates at its meeting on July 27.
Geopolitical risks: The war in Ukraine is a major geopolitical risk that could continue to weigh on the euro. The war has also disrupted energy markets, which could lead to higher inflation in the eurozone.
Overall, the fundamental factors affecting EUR/USD are mixed. The eurozone economy is still growing, but inflation is rising. The ECB is facing increasing pressure to raise rates, but the war in Ukraine is a major geopolitical risk.
Here are some of the key technical levels to watch for EUR/USD:
Support: 1.0900, 1.0800
Resistance: 1.1000, 1.1100
The outlook for EUR/USD is uncertain. The currency pair could continue to trade in a range between 1.0900 and 1.1100 in the near term. However, the longer-term direction of the currency pair will depend on the outcome of the war in Ukraine and the monetary policies of the ECB and the Fed.
📈 Remember to stay updated with our analysis and trade insights for EUR/USD! 🚀 Happy trading! 📊
Economic data: The eurozone released some mixed economic data on Thursday. German exports and imports both fell in June, but the Producer Price Index (PPI) declined less than expected. On Friday, Germany will release factory orders data, while the eurozone will release retail sales data.
Central bank policy: The European Central Bank (ECB) is expected to keep interest rates unchanged at its meeting on July 21. However, the ECB is facing increasing pressure to raise rates in order to combat inflation. The US Federal Reserve is also expected to raise rates at its meeting on July 27.
Geopolitical risks: The war in Ukraine is a major geopolitical risk that could continue to weigh on the euro. The war has also disrupted energy markets, which could lead to higher inflation in the eurozone.
Overall, the fundamental factors affecting EUR/USD are mixed. The eurozone economy is still growing, but inflation is rising. The ECB is facing increasing pressure to raise rates, but the war in Ukraine is a major geopolitical risk.
Here are some of the key technical levels to watch for EUR/USD:
Support: 1.0900, 1.0800
Resistance: 1.1000, 1.1100
The outlook for EUR/USD is uncertain. The currency pair could continue to trade in a range between 1.0900 and 1.1100 in the near term. However, the longer-term direction of the currency pair will depend on the outcome of the war in Ukraine and the monetary policies of the ECB and the Fed.
📈 Remember to stay updated with our analysis and trade insights for EUR/USD! 🚀 Happy trading! 📊
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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.
Related publications
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.