EUR/USD Poised for Upswing
Updated
EURUSD Fundamental Analysis:
The EUR one with a GDP contraction of -0.1% and an inflation rate of 2.9%, contrast with the U.S.'s robust 4.9% GDP growth and 3.7% inflation. The Euro Area's lower interest rate of 4.5% compared to the U.S.'s 5.5% makes the Dollar more attractive to investors. These factors, alongside the U.S.'s strong consumer confidence and the Euro Area's negative consumer sentiment, suggest potential downward pressure on EUR/USD. However, the Euro Area's positive trade balance could provide some support to the Euro. by these indicators USA is still stand stronger than Euro zone...
Technical Analysis:
After a significant bearish trend drove EUR/USD down to 1.05, the pair found strong support and entered a consolidation phase around the 1.05 zone, indicating potential bullish momentum ahead. A break above this consolidation could see the pair targeting 1.08 and possibly 1.09 by year-end as market sentiment shifts.
Targets:1.07900, 1.08860...
Overview of
EURUSD https://www.tradingview.com/x/Fq4oZAqN/
"Stay disciplined and patient"
"Keep analysis simple and concise"
"Have a risk management strategy"
"Trade with a clear mind"
Note
price have been reached to near 0.5% Fibo, try look for long opportunities from hereNote
The latest update on the EUR/USD chart shows the currency pair trading at 1.06909. A potential upward trajectory is indicated towards the target prices, with the immediate target (TP) at approximately 1.07935 and a further target (TP1) around 1.08863. The pair is currently in a consolidation zone with support at around 1.06882. The RSI is mid-range, which might indicate that there is neither strong buying nor selling pressure at the moment. **look for long opportunity on this setup**
Note
One of the TP has been reachedTrade closed: target reached
All Targets have been reached
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