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EURUSD Simple Trade Plans; Pre/Post ECB News (new uptrend).ECB deposit rate facility news comes out soon, as well as speech from the ECB in general terms relating to monetary policy. Anything that confirms a quicker easing cycle will likely feed into a downside drip for the EURO. This comes as a near term uptrend forms on a second high. Upside moves will rely on anything that will delay a cut (unlikely). The FED has made its position clear lately leading to real weakness around the USD.
by WillSebastian
10
EUR/USD Daily Chart Analysis For Week of July 26, 2024Technical Analysis and Outlook: During the trading session of the current week, the Eurodollar sustained its decline by the Weekly Chart Analysis for the Week of July 19. The prevailing analysis indicates a continued downward trajectory toward a Mean Support of 1.081 and its corresponding Mean Support of 1.078. The anticipated downward movements will result in an initial interim rebound, potentially reaching a Mean Resistance of 1.089.
by TradeSelecter
SHORT EURUSDEURUSD remains bearish on the daily timeframe and is currently in an ascending channel with a test at the upper channel, a failure to break above a major resistance area at 1.09-1.10 level, and a bearish daily engulfing candlestick pattern that would confirm its next movement. The first target is to the lower channel at area 1.07 and if it breaks, the next target will be to the major support zone at area 1.05 and a break below will confirm a movement to the lower of the descending channel at near parity levels.
Short
by WaelHaz
EUR/USD Daily Chart Analysis For Week of July 19, 2024Technical Analysis and Outlook: During the current week's trading session, the Eurodollar exhibited a notable surge once again, exceeding the Mean Resistance level of 1.090 and the previously attained Inner Currency Rally of 1.091, ultimately reaching this week's Inner Currency Rally of 1.094. The prevailing analysis indicates a sustained downward movement towards Mean Sup 1.086 and its corresponding Mean Sup 1.081. The concluded downward movements are anticipated to yield an initial interim rebound, such as Mean Res 1.086.
by TradeSelecter
EUR/USD – slightly lower as ECB holds interest ratesThe euro has edged lower on Thursday. Early in the North American session, EUR/USD is trading at 1.0919, down 0.18% on the day. The euro hasn’t posted a losing day since July 9, gaining 1% during that period. The European Central Bank maintained its key lending rate at 3.75% at today’s meeting, after cutting rates by a quarter-point in June. The decision to hold rates was widely expected, especially after the June cut, and the euro has had a calm day. The markets are following ECB President Lagarde’s press conference, hoping for clues about future rate policy. The rate statement noted that “services inflation is elevated and headline inflation is likely to remain above the target well into next year”. The markets weren’t perturbed by this hawkish comment as the ECB has demonstrated that it is willing to lower rates even when inflation is above the 2% level, as it did in June. The markets have priced in two more quarter-point cuts in September and December. ECB policy makers have been cautious and the rate statement reiterated that the ECB was “not pre-committing to a particular rate path”. ECB officials have stressed that inflation remains high and wage growth, which is feeding services inflation, needs to come down in order for the ECB to feel confident in lowering rates further. In the US, Fedspeak will be in focus, with five public appearances from FOMC members before the week is over. Investors will be hoping to get some insights on Fed rate policy, with the markets widely expecting a rate cut in September. EUR/USD is testing support at 1.0928. Below, there is support at 1.0907 1.0960 and 1.0981 are the next resistance lines
by OANDA
Pre-ECB rates decision analysis18th July DXY: Consolidating, could retrace to 104 resistance, test and reject to trade down to 103.50. Needs to stay below 104.20 to remain bearish NZDUSD: Buy 0.6060 SL 20 TP 50 AUDUSD: Sell 0.6715 SL 20 TP 40 USDJPY: Sell 155.55 SL 40 TP 80 GBPUSD: Buy 1.3050 SL 20 TP 90 (Hesitation at 1.3090) EURUSD: Buy 1.0930 SL 20 TP 50 (ECB decision pending) USDCHF: Sell 0.8815 SL 25 TP 85 (hesitation at 0.8780) USDCAD: Buy 1.3710 SL 20 TP 70 Gold: DXY weakness continues, price to trade higher, break 2480 could trade up to 2520
TVC:DXY
by JinDao_Tai
EUR/USD Daily Chart Analysis For Week of July 12, 2024Technical Analysis and Outlook: During the current week's trading session, the Eurodollar has demonstrated a substantial surge, surpassing the Mean Resistance level of 1.085 and reaching the designated target of Mean Res 1.090 and the previously completed Inner Currency Rally of 1.091. The prevailing analysis suggests a potential downward movement for the Euro toward the Mean Support level of 1.086, with additional extensions identified at Mean Support levels of 1.081 and 1.078, respectively.
by TradeSelecter
EUR/USD Daily Chart Analysis For Week of July 5, 2024Technical Analysis and Outlook: During this week's trading session, the Eurodollar has surpassed the Mean Resistance level of 1.074 and is currently positioned below the Mean Resistance level of 1.085. The present analysis indicates a potential down movement for the Euro to the Mean Resistance level of 1.078 and subsequently decrease to the Mean Support level of 1.074. However, it is essential to acknowledge the potential for an upward extension towards the Mean Resistance level of 1.090.
by TradeSelecter
EUR/USD eases as inflation ticks lowerThe euro is slightly lower on Tuesday. EUR/USD is trading at 1.0712 in the European session, down 0.24% on the day at the time of writing. The euro hit a two-week high on Monday, rising to 1.0776, but couldn’t consolidate and ended the day almost unchanged. The annual inflation rate in the eurozone dropped to 2.5% in June, compared to 2.6% a month earlier and in line with market expectations. The slight decline was driven a slower pace of price rises for food and energy. On a monthly level, CPI was unchanged at 0.2%, matching the forecast. Core CPI was unchanged at 2.9% y/y, a bit higher than the market estimate of 2.8% y/y. The downward move in inflation is good news and follows a decline in June inflation in Germany, France and Spain. Services inflation in the eurozone, however, climbed 4.1% y/y in June, more than twice the ECB’s target of 2% . The inflation report won’t prod the European Central Bank to cut again in July, after an initial quarter-point cut earlier this month. What can we expect from the ECB? That isn’t clear, as Governing Council members are divided. Governing Council member Madis Muller said today that the ECB must be patient with further rate cuts and warned against underestimating price stickiness. Another member, Pierre Wunsch said that another cut was an easy decision but there was no urgency. We’ll hear from ECB President Lagarde at the ECB forum in Sintra later today and the euro could react if Lagarde weighs in on the rate path issue. Federal Reserve Chair Powell will also speak at the ECB forum later today and investors will be looking for clues about rate cut plans. Expectations of a September rate cut have been steady over the past week at around 60%, according to the CME’s FedWatch. EUR/USD is testing resistance at 1.0752. Above, there is resistance at 1.0790 1.0709 and 1.0671 are the next support lines
by OANDA
Euro eyes French inflationThe euro has gained ground on Thursday. EUR/USD is trading at 1.0707, up 0.26% on the day. The euro has stayed close to the 1.07 line for much of the week as it looks for direction. The eurozone releases the June inflation report next week. The French inflation release, which will be released on Friday, could be a precursor for the eurozone release. French inflation is expected to rise to 2.5% y/y, up from 2.3% in April. Monthly, CPI is expected to tick up to 0.1%, up from 0% in May. The European Central Bank will be hoping that inflation moves lower towards the 2% target. The ECB cut interest rates earlier this month and another rate cut will largely depend on the direction that inflation takes. Policy makers have long been concerned about an inflation rebound following a rate cut and an increase in eurozone inflation next week would dampen hopes of another rate cut in the near term. The ECB meets next on July 18th. It has been a relatively quiet week for the euro but that could change on the weekend, as French voters go to the polls in the first round of a parliamentary vote. French President Macron called the snap elections after the extreme right made sharp gains in the recent European Parliamentary elections. Macron is hoping to mobilize the center, but if his plan backfires and the extreme right gains ground, it will trigger uncertainty in France and the financial markets and the euro would likely take a tumble. The election drama could mean volatility from the euro on Monday. In the US, Final (third estimate) GDP posted a gain of 1.4% q/q, as expected. This was slightly higher than the 1.3% gain in the second estimate. The US economy has slowed down significantly in the first quarter, after a strong gain of 3.4% in the fourth quarter of 2023. Still, the Fed is yet to cut rates due to unexpectedly high inflation. EUR/USD is testing resistance at 1.0710. Above, there is resistance at 1.0740 1.0688 and 1.0658 are providing support
by OANDA
Euro steadies after market jitters subsideThe euro is steady on Monday. EUR/USD is trading at 1.0714 in the North American session, up 0.10% on the day. France’s financial markets took a tumble late last week, as investors are nervous about the snap parliamentary election at the end of June. There are fears that the extreme right could make strong gains, as was the case in the recent European Union parliamentary elections. The market turmoil led to a sell-off in France’s financial markets and the euro losing 1% over Thursday and Friday. ECB Chief Economist Philip Lane sought to reassure nervous investors and said on Monday that the ECB would not intervene since the recent market turmoil was “not disorderly”. Lane also said the ECB was confident that inflation would fall to the 2% target in 2025. Lane may have sounded optimistic, but the ECB was not happy with the June CPI release, which showed inflation accelerating in the preliminary estimate. Headline CPI rose from 2.4% in May to 2.6% in June and the core rate climbed to 2.9%, up from 2.7% in May. The final estimate, which will released on Tuesday, is expected to confirm the initial release. The markets expect one or two rate cuts before the end of the year, but higher inflation will complicate the ECB’s plans to lower interest rates. In the US, the UoM consumer sentiment index fell for a third successive month to 65.6 in June. This was down from 69.1 in May and shy of the market estimate of 72. Inflation expectations remained unchanged at 3.3%, another signal that inflation remains sticky and the Fed will have a tough time bringing inflation down to the 2% target. EUR/USD is testing resistance at 1.0709. Above, there is resistance at 1.0743 1.0666 and 1.0628 are the next support levels
by OANDA
EUR/USD Daily Chart Analysis For Week of June 14, 2024Technical Analysis and Outlook: The Eurodollar has achieved two of our downward trend targets in the current week's trading: Mean Support at 1.075 and 1.067, respectively. The remaining downside targets continue to be valid. The ultimate target for the completed Inner Currency Dip is 1.060 and 1.054; out of most, the completed Outer Currency Dip is 1.045. On the upside, the dead-cat rebound is set to target Mean Resistance at 1.073.
by TradeSelecter
Euro falls to six-week highThe euro has extended its losses on Friday. EUR/USD is trading at 1.0675 in the European session, down 0.59% on the day. The euro is down 1.17% this week and has dropped to its lowest level since May 1st. France’s inflation level fell to zero in May, confirming the preliminary estimate and down from the 0.5% gain in April. France is the eurozone’s second-largest economy and the downtrend in inflation will be welcome news to the European Central Bank. The central bank delivered a rate cut last week, the first since its rate-tightening cycle began two years ago. ECB policymakers will be closely monitoring inflation data and could consider another cut in the fall if inflation continues to decline towards the 2% target. Eurozone inflation rose 2.4% in April, unchanged from March. ECB President Lagarde speaks at an event in Croatia later on Friday and investors will be looking for hints as to the ECB’s planned rate path. Another cut in July is unlikely but a signal from Lagarde that additional rate cuts are one the table could boost the euro. In the US, the producer price index rose 0.2%, below the April reading of 0.5% and lower than the market estimate of 0.1%. Yearly, PPI ticked lower to 2.2%, down from a revised 2.3% in March and below the market estimate of 2.5%. The soft PPI data follows the May CPI report which also showed that inflation on the decline. The downtrend in these two inflation reports have raised expectations of a September rate cut, with a 61% of a quarter-point cut currently, compared to 46% just a week ago, according to CME’s FedWatch. EUR/USD pushed below support at 1.0709 and is testing support at 1.0679. Below, there is support at 1.0629 1.0763 and 1.0793 are the next resistance lines
by OANDA
A Bullish Outlook for BTCUSDIn the ever-evolving world of cryptocurrency trading, recent developments in global monetary policy have sparked renewed interest in the BTCUSD market. With the European Central Bank's (ECB) recent decision to trim interest rates and today's release of better-than-expected Consumer Price Index (CPI) data, coupled with ongoing speculation of potential interest rate cuts by the Federal Reserve (Fed), traders are eyeing long positions in Bitcoin (BTC) with a bullish outlook. Adding to the narrative, recent market dynamics reveal a pattern of range-bound trading in the BTCUSD market, with the $72,000 level serving as a key resistance level. As we anticipate a repetition of this pattern, informed traders are positioning themselves strategically to capitalize on potential price movements. Here's how traders are navigating these market conditions: Capitalizing on Central Bank Policies: The ECB's decision to lower interest rates underscores the prevailing sentiment of accommodative monetary policies aimed at stimulating economic growth. In response, traders are flocking to Bitcoin as a hedge against potential currency devaluation and inflationary pressures, driving demand and upward price momentum. Interpreting CPI Data and Market Expectations: Today's release of CPI data, slightly below expectations but still indicative of moderate inflationary pressures, has provided clarity on economic conditions. With the Fed expected to follow the ECB's lead and implement rate cuts, traders are anticipating a favorable environment for Bitcoin investments, as lower interest rates reduce the opportunity cost of holding cryptocurrencies. Technical Analysis and Strategic Positioning: Building on recent market trends, traders are employing technical analysis to identify key support and resistance levels. With the $72,000 level emerging as a significant resistance barrier, traders are setting profit-taking targets (TP) at this level, anticipating a potential retracement or consolidation. For risk management purposes, a stop-loss (SL) level at $67,000 is being widely utilized to mitigate downside risk. Market Sentiment and Long-Term Outlook: Despite short-term volatility, sentiment remains overwhelmingly bullish among long-term investors, driven by Bitcoin's growing adoption as a store of value and inflation hedge. Institutional interest, coupled with increasing retail participation, further validates Bitcoin's status as a viable investment asset, with the potential for substantial long-term gains. In conclusion, the convergence of central bank policies, economic data releases, and technical market analysis paints a compelling picture for traders seeking opportunities in the BTCUSD market. By leveraging strategic insights and risk management techniques, traders can position themselves to capitalize on potential price movements while navigating market volatility effectively. As always, traders are encouraged to conduct thorough research, stay informed of market developments, and adhere to disciplined trading strategies to achieve their financial objectives in the dynamic world of cryptocurrency trading.
BINANCE:BTCUSD.PLong
by exlux
ECB speeches, Macron, and FOMC stir EUR/USD A high number of European Central Bank (ECB) officials are making public speeches in the 24 before the Fed rate decision this week Wednesday that could help or hinder the EUR/USD. Also, thrown in the mix now is French President Emmanuel Macron’s decision to call for a snap local election after the results of the EU Parliament elections, adding to market uncertainty. The EURUSD has extended to a 5-week low. 1.0700 could be the next target for the bears as the price has now moved into a swing area between 1.0718 and 1.0750. Perhaps the most important speeches will come from Luis de Guindos (Vice-President of the ECB), Philip R. Lane (ECB Executive Board member), and Claudia Buch (ECB Supervisory Board). Import the BlackBull Markets Economic Calendar to iCloud, Google, or Outlook to get alerts direct to your inbox, enabling you to plan your positions in advance. Last week, the EU became the fourth Western economy to reduce its lending rate, announcing progress in tackling inflation. It lowered its main interest rate from a record high of 4% to 3.75%. Katherine Neiss, chief European economist at Prudential Investment Management, expressed "reasonable confidence" that the ECB would further cut rates over the summer or autumn, potentially bringing EU rates to 3.5% or lower by year-end. Investors will be closely analyzing the upcoming ECB speeches for any hints that support this prediction.
by BlackBull_Markets
EUR/USD Daily Chart Analysis For Week of June 7, 2024Technical Analysis and Outlook: In this week's trading, the Eurodollar has completed our Inner Currency Rally of 1.091 and reverted sharply to our designated target of the Mean Sup 1.080. The currency is expected to continue its downward trajectory to Mean Sup 1.075 with a follow-up Dead-Cat rebound to the reverted resistance level of 1.080 (Previous Mean Sup). The ultimate target of the well-established completed Innet Currency Dip 1.060.
by TradeSelecter
ECB Rate Cut Sparks Uncertainty: Bitcoin as a Safe Haven The European Central Bank (ECB) has decided to cut interest rates by 0.25% unanimously, reflecting growing concerns about the economic health of the Eurozone. With inflation expected to slow to 1.9% by 2026 and GDP growth projected at 0.9% in 2024 and 1.6% in 2026, the ECB aims to stimulate borrowing and investment to drive economic growth. However, many investors express doubt and uncertainty about these future projections and feel a high degree of uncertainty in the markets. Doubts about the ECB's ability to achieve these goals persist amid ongoing economic challenges and increasing global pressures. This doubt and uncertainty drive the search for more stable investment alternatives, making digital currencies, especially Bitcoin, an attractive option for investors seeking to hedge against economic and political volatility. The ECB's interest rate cut could lead to a weaker Euro, making dollar-denominated assets like Bitcoin more attractive to investors. When interest rates drop, borrowing becomes cheaper, encouraging individuals and businesses to borrow and invest. This increases market liquidity, which can boost demand for digital assets like Bitcoin. A weaker Euro means investors look for safe and stable alternatives to protect their money from inflation and currency depreciation. Bitcoin, which has a reputation as a safe haven and a high-performing investment despite the risks, may become a preferred choice for these investors. Therefore, this move could lead to higher Bitcoin prices as investors seek to capitalize on changing financial conditions and invest in assets that are considered safer and more valuable in the long term. Diversification is key to managing risk in your investment portfolio. Do not put all your investments in Bitcoin alone; diversify your portfolio across various digital and traditional assets. Diversification can help reduce overall risk and improve potential returns by leveraging the performance of different assets at different times. Only invest what you can afford to lose due to the high volatility in the cryptocurrency market. Investing in Bitcoin or any other digital currency should be part of a comprehensive financial plan that considers the ability to bear risks and potential loss of value. With these tips, investors can take advantage of opportunities in the digital currency market while minimizing risks and achieving their financial goals in the long term.
COINBASE:BTCUSD
by bbitar