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EUR/USD eyes ECB rate decisionEUR/USD is in a holding pattern ahead of today's ECB rate meeting. In the European session, the euro is trading at 1.0068, down 0.16%. The ECB holds its policy meeting later today, amidst difficult economic conditions in the eurozone. Inflation jumped to 9.9% in September, up sharply from 9.1%. The manufacturing and services sectors are in decline and confidence levels are low. The markets have priced in a 0.75% hike and there has even been talk of a jumbo full-point increase. Could the ECB surprise with a lower-than-expected hike of 0.50%? Earlier this week, the Bank of Canada (BoC) and Reserve Bank of Australia (RBA) both delivered smaller hikes than expected, at 0.50% and 0.25%, respectively.  The message from both central banks is that they are close to ending their rate-tightening cycles and expect inflation to peak in the next several months. Will the ECB follow suit? It's possible but unlikely. The ECB only entered the tightening game in July, and the current benchmark of 1.25% remains out-of-sync with inflation, which is close to double-digits and the ECB needs to be aggressive if it hopes to beat inflation. The benchmark rates are much higher in Canada (3.75%) and Australia (2.60%) and have slowed economic growth, while the ECB's low benchmark rate has not had the same effect. Still, the weak eurozone economy could tip into recession as a result of sharp rate hikes, which means that a 0.50% hike cannot be completely discounted. We can expect some movement from EUR/USD in response to the ECB decision - an increase of 0.75% or 1.00% will be bullish for the currency, while a 0.50% hike would disappoint investors and likely send the euro lower. There is resistance at 1.0095 and 1.0154 0.9924 and 0.9814 are the next support levels
by OANDA
EURJPY:Rate hike push Eur?EURJPY Intraday - We look to Buy at 145.55 (stop at 144.70) Selling pressure from 147.70 resulted in all the initial daily gains being overturned. The current move lower is expected to continue. The reaction lower is negative, however, we view this as an opportunity to set longs in line with the overall bullish move higher. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Our profit targets will be 147.95 and 151.00 Resistance: 147.25 / 151.00 / 155.00 Support: 144.30 / 141.70 / 138.85 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’) . Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre
Long
by VantageMarkets
Important news for EURUSD Today we have ECB Interest Rates decision. We should see them going up by 0.75%. No matter what will be the bank's decision, we're going to see big moves on EURUSD. We could see more bullish pressure on EURUSD, but we have to keep in mind that FED is also coming out with their decision soon. That means, whatever upside move we see today, it could reverse pretty soon. That's why, we think the best decision today would be to wait for the news and look for entries after that. Also, price reaching higher levels will only give us a better sell opportunities.
by ForexTrendline
4
EUR/USD punches above parity, ECB nextEUR/USD continues to power forward and has breached the parity line for the first time since September 20th. The euro is red hot, having gained 2.1% this week, as the US dollar has hit a bump in the road and is lower against all the major currencies. In the North American session, EUR/USD is trading at 1.0069, up 1.02%. The German economy, the largest in the eurozone, continues to show signs of weakness. September PMIs pointed to contraction in manufacturing and business activity, and these are unlikely to rebound as the Ukraine war continues and an energy crisis looms, with winter close by. The Ifo Business Confidence index fell for a fourth straight month in October and GfK Consumer Sentiment, which will be released tomorrow, is expected to remain deep in negative territory. The ECB meets on Thursday, with policy makers having to contend not only with a gloomy economic outlook in the eurozone, but also with spiralling inflation, with no sign of a peak. Eurozone CPI jumped to 9.9% in September, up sharply from the 9.1% rise in August. The markets have priced in a supersize 0.75% hike, which would bring the cash rate to 2.0% and investors will be looking for the Bank to declare its commitment to bring inflation back to the 2% target. A jumbo full-point increase remains a slight possibility, given that inflation is close to double-digits. Investors will be monitoring the follow-up press conference, and the euro's direction tomorrow could depend on ECB President Lagarde's message to the markets. If Lagarde signals that further rate hikes are coming, the euro will likely gain ground. Conversely, a dovish stance from Lagarde could cut short the euro's rally. EUR/USD has broken above 0.9846 and is testing resistance at 0.9985. The next resistance line is 1.0095 There is support at 0.9753 and 0.9643
by OANDA
EUR/USD Extends Gains Above Parity Ahead Of ECB MeetingThe EUR/USD pair is rising for the sixth day in a row on Wednesday as the greenback continues to face selling pressure while investors gear up for Thursday’s European Central Bank interest rate decision. At the time of writing, the EUR/USD pair is trading at the 1.0060 zone, 1% above its opening price. The euro reached its highest level in six weeks against the greenback at 1.0080 so far. On Thursday, the ECB will decide on monetary policy. Expectations remain hawkish as the WIRP tool suggests a 75 bps hike is completely priced in. Meanwhile, the swaps markets are betting on another 75 bps increase in December and a 50 bps increase at February’s meeting. Investors will watch President Christine Lagarde’s press conference, especially on economic assessments and forward guidance. At the last meeting, Lagarde stated that she only knew the terminal rates were “far away” from current levels, but that following decisions would depend on incoming data. Meanwhile, investors bet the FOMC will almost certainly hike by 75 bps on November 2. Still, swaps markets are building a stronger case for a 50 bps hike for the December 15 meeting, while a week ago probability was only 20%. Against this backdrop, the greenback has begun losing interest, with the DXY already down 1.8% this week. At the time of writing, the DXY is trading at the 109.80 area, its lowest level in five weeks. U.S. Q3 GDP data will also be on the docket on Thursday. From a technical perspective, the EUR/USD short-term outlook has turned more constructive as indicators gain ground on the daily chart and the price has broken out above a descending trendline drawn from February highs. However, the chart suggests that the pair could stage a technical correction before the next leg higher as the RSI is swiftly approaching overbought levels. On the upside, the next resistances are seen at the 100-day SMA, 1.0092, and the 1.0100 level, ahead of the September monthly high of 1.0197. On the other hand, support levels could be faced at parity and the 0.9900 zone, ahead of the 20-day SMA currently at 0.9823.
by Alex_Boltyan_FXAnalyst
EUR/USD Outlook (26 October 2022)The EURUSD surges higher from the support level of 0.9852, but with no clear fundamental driver. This move higher could be the front running and hawkish sentiment from the market that the ECB will increase rates by 75bps (and possibly even 100bps) With the price approaching the 1.00 (parity) level again, look for price action development to determine the next possible move. A break of the resistance level could see the EURUSD trade higher towards 1.020 (the next key resistance level). Whilst a rejection of the resistance level could see the EURUSD fall back toward the support level of 0.9850 (however this is an unlikely scenario, given the interest rate hike on the horizon for the ECB)
Long
by JinDao_Tai
1
EURUSD: ECB Interest Rate Decision next weekOn Friday the 21st, we saw the USD drop on a bad Monthly Budget Statement. This has given us reason to think that investors will not be looking at the dollar as a safe haven currency. There might be a long term trend reversal in play next week ahead of the ECB Interest Rate Decision. An increase of the interest rates should act as bullish catalyst for the Euro. Wait for a breakout of the long term trend line, and look for signs of bullish continuation to the upside on the retest of the long term trend line. Good luck traders.
Long
by CryptodopamineFX
EUR/USD Daily Chart Analysis For Week of October 21, 2022Technical Analysis and Outlook: The Eurodollar bounced swiftly from our Mean Sup 0.9700 and rested at our Mean Res 0.9860; however, retesting the Mean Res 0.9987 and 1.0020 is probable. The significant downside move is a) from the current position, b) From up the ante restarting down move of 1.0020. The main targets continue to be our Key Sup 0.9595 and completed Inner Currency Dip 0.9570. Continuation to the next Outer Currency Dip of 0.9370 is in the making.
by TradeSelecter
EURJPY Sell Idea Hello traders. EURJPY formed a double top at multiyear High levels. However, during evening of yesterday, some big players closed their positions and as a result the market direction was occured due to the surpass of sellers. I think that the psychology of this pair is mainly short and any spike can be considered as a sell opportunity either if it touches the trend line again or if it touches the upper resistance zone. My long term target is approx. 137 zone which is a OB and strong demand zone. But there are plenty intermediate take profit levels on other support areas. Today's Lagarde's speech will be of importance about the future of this pair.
Short
by The_Forex_Path
1
EURGBP This Week: What's New ? Good Evening, Despite of the meetings the European Central Bank did and especially Bank of England in which it raised the inflation recently, we need to talk in technical analysis language and in an easy simplified language in which traders out there can claim what's going on. So here are the key points: - There is bearish order block set in 0.87081 level which is a good sign we're still safe going bear, in addition to a character of change that was broken below from the previous lower low. - Speaking of EMA's, the current candle is ready to the 50 EMA. Hopefully, things are still going in our favor (for those who are willing to go short). - In sort of Technical Indicators, the very most popular indicators, MACD, for example, admits strongly for going short in addition to RSI, was previously overbought and still in a high level. I can go much more further and give more and more advanced analysis, but I like to keep things simple and easy to catch so traders can find my analysis quite handy.
Short
by JawadShoukeir
1
EUR/USD Daily Chart Analysis For Week of October 14, 2022Technical Analysis and Outlook: The Eurodollar's failed attempt to retest our Mean Res 0.9987 indicates high negative market sentiment; however, the retest of the newly created Mean Res 0.9780 is probable. As specified in the EUR/USD Daily Chart Analysis For Week of October 7, the main downside targets continue to be our Key Sup 0.9595 and completed Inner Currency Dip 0.9570. Continuation to the next Outer Currency Dip of 0.9370 is in the making.
by TradeSelecter
EURO Threatening To Break Major Support. Keep Your Eyes Open!The major support at 0.96000 is being threatened to break, once this happens we can expect the price to head way down at next support/ demand zone located at 0.87000. With the FED tightening aggressively to tame the inflation, the likely hood of DXY momentum gaining traction is highly likely! This in turn could make the EURO fall gradually towards 0.87000 level. On the technical note, the main monthly chart of EURUSD shows everything in detail, however in order to trade this wonderful opportunity, we require the weekly candle to close below 0.96000 first after that a short trade can be executed based on the ideal risk reward ratio. All in all its a wonderful opportunity both on technical and fundamental note, all is needed now is for the weekly candle to pierce 0.96000 level then i will post another post that includes the trade details. Trade cautiously and safely. cheers
Short
by FX618Analysis
EUR/USD Daily Chart Analysis For September 30, 2022Technical Analysis and Outlook: On Friday, the Eurodollar completed our Interim Rebound as specified on EUR/USD Daily Chart Analysis For September 23, after a repeated hit of our completed Inner Currency Dip of 0.9570. On the downside target is retesting the newly created major Key Sup 0.9595 and once again completed Inner Currency Dip 0.9570. Continuation to the next Outer Currency Dip 0.9370 is in the making - There are possible short-term dead-cat bounce moves.
by TradeSelecter
EUR/USD falls as inflation jumpsThe euro is showing limited movement today, after a two-day rally. In the European session, EUR/USD is trading at 0.9759, down 0.55%. It has been a week of swings for the euro, which has traded in a 300-point range. The euro has been under strong pressure, and is down 2.5% in September, as the euro continues to drop further away from the psychologically-important parity line. The number 10 is not at all pretty when referring to inflation, but that is today's story, as eurozone CPI jumped to 10.0% in August, up from 9.1% in July and above the consensus of 9.7%. This is the highest rate ever recorded since the euro was introduced back in 1999. Inflation is well supported, as all broad categories reflected price increases, and core inflation rose to 4.8%, up from 4.3% and higher than the 4.7% estimate. Germany, the powerhouse of the bloc, saw inflation accelerate even higher, to 10.9%. The chief driver of soaring inflation is energy prices, which have skyrocketed as Russia has sharply reduced energy exports to Europe. The latest ominous development was a series of explosions at the Nord Stream pipelines this week. Although the pipeline system had already been shut down, the explosions, which were likely sabotage, have sent natural gas prices even higher. The ECB showed up very late to the rate-tightening dance, and the current benchmark rate of 1.25% lags behind other central banks and will not have much impact on soaring inflation. The central bank appears to have little choice other than to deliver a second-straight rate increase of 0.75% at the October meeting. With eurozone inflation hitting double digits and showing no sign of peaking, it is no surprise that confidence levels are sinking among consumers and businesses. The European Commission economic sentiment index slipped to 93.7 in September, down from 97.3 in August. German GfK Consumer Confidence fell to -42.5 in September, down from -36.8 in August, and lower than the consensus of -39.0 points. The economic picture in the eurozone is bleak, and the ailing euro will be hard-pressed to make any headway against the surging US dollar. EUR/USD is testing support at 0.9554. Next, there is support at 0.9419 There is resistance at 0.9640 and 0.9711
by OANDA
1
ECB Gasping for air.European Central Bank (ECB) Chief Economist Philip Lane said on Wednesday that the current transition will require the ECB to continue to raise interest rates over the next several meetings, as reported by Reuters. "Encouraging market intermediation of government deposits remains desirable in the long term." "Most measures of longer-term inflation expectations currently stand at around 2%." "If energy costs were to decline or demand were to weaken over the medium term, it would lower pressures on prices." "Rate hike has been well transmitted to money market rates." "Eurozone inflation drivers are of a different nature compared to demand-driven overheating dynamics." "The appropriate monetary policy for the euro area should continue to take into account that the energy shock remains a dominant driving force." "Inflation dynamics associated with the energy shock component, to which the euro area is particularly exposed, are of a different nature compared to demand-driven overheating dynamics." EUR/USD is struggling to preserve its recovery momentum after this report and was last seen gaining 0.25% on the day at 0.9995.
Short
by xavierNF
5
Short Spain/Ibex 35So... the Spanish market has actually OUTPERFORMED all the other european indiced in the past year and actually YTD: www.investing.com --> "Performance" that makes no sense... a country/economy which were on the edge of bankrupcy in the last financial crisis. Why has this economy outperformed all the other eonomies? it makes no sense . IMO a short position for the rest of the year (if needed) should be in order. As soon as the ECB raises the interest rates, just watch Spain (and Italy for that matter) it will go down and struggle like all the southern european countries has done for ages. Nothing has changed - it will happen.
SShort
by Hvalp
EUR/USD Daily Chart Analysis For September 16, 2022Technical Analysis and Outlook: Eurodollar has completed Interim Rebound to our Mean Res 1.0180 and retreated viciously downward by forming a new Mean Res 1.0117 - with the possibility to be re-tested. The currency continues to move about the 1.000 threshold by closing slightly above the newly created Mean Sup 0.9970. The Key Sup 0.9880 and our open Inner Currency Dip 0.9852 continue to be the main target, with further expansion to the Next Inner Currency Dip 0.9570 and the lower mark is in the making.
by TradeSelecter