Get started

Euro-dollar

EUR - FUNDAMENTAL DRIVERSFUNDAMENTAL BIAS: WEAK BEARISH 1. Virus Situation The outlook for EUR remains tied to the EU's ability to overcome its coronavirus pandemic. At present, the outlook appears bleak when we only consider the virus cases, with many European countries entering third waves and reinstating or prolonging economically damaging lockdown restrictions. However, the vaccinations roll out has seen some improvement recently and with the number of doses expected to ramp up substantially in May the outlook from a virus point of view is starting to look better. 2. The Monetary Policy outlook for the ECB Even though the FED and BOE are nowhere close to hawkish, they are far less dovish than the ECB, who has decided to front-load asset purchases to keep EU bond yields from rising too fast. The string of contradicting comments also shows a possible growing rift among the GC which could prove problematic when it comes to potentially altering policy in the months ahead. The bank remains one of the most bearish members, but the continued battle between the hawks and doves has seen some participants starting to abandon their dovish stance on the bank and is starting to consider whether tapering might be closer than previously thought. 3. The country’s economic developments The vaccination roll out and additional lockdowns has weighed on EU growth prospects, with growth differentials for the EU versus the US and UK widening. Fiscal support is another factor where the EU Recovery Fund is yet to be ratified while the US and UK have both rolled out additional stimulus and plans more in the months ahead (US). Having said that, the recent economic data such as PMI’s suggest the hit to the economy from the most recent lockdowns has not been as bad as previously feared and we have heard plenty of participants have started to position themselves for a recovery in the Eurozone. As a result, we have adjusted our bias for the EUR from Bearish to Weak Bearish.
by thunderpips
1
EUR retains a firm tone, but edges slightly off intraday peak...Hello everyone, if you like the idea, do not forget to support with a like and follow. Prior Chart: Euro has breached key chart resistance in the form of a descending trendline, but hit another obstacle at 1.2150 before waning amidst a barrage of mostly firmer than expected Eurozone data/surveys that should keep EUR/USD afloat along with 1.1 bn option expiry interest either side of 1.2100 (1.2095-1.2105 specifically).
Long
by FTUKcom
5
MarketBreakdown | EURUSD, USDCAD, USDCHF, GBPAUD ❤️Please, support this idea with a like and comment!❤️ 1️⃣ EURUSD - 4H time frame The pair is still trading on a strong daily horizontal resistance. On that, the price started to consolidate and currently trading within a local horizontal trading range. Wait for a bullish/bearish breakout of the range to buy/sell the pair. 2️⃣ USDCAD - Daily time frame The market is trading within a major falling parallel channel. The price formed a double top formation with a lower high on its upper boundary and broke the neckline. Bearish continuation is expected. 3️⃣ USDCHF - Daily time frame The price is trading below daily horizontal support. The structure is considered to be broken and bearish bias remains. 4️⃣ GBPAUD - 3 Days time frame The price has recently broken and closed below a support line of a major rising wedge. Now we see a pullback. The retest of the broken wedge will give a safe point for shorting opportunities. Let the price reach the broken trend line and look for intraday confirmation to open a sell position. ⬇️Subscribe to my social networks!⬇️
Short
by VasilyTrader
4