Get started

EURO-USD

EUR/USD Recovers from Six-Month Low After ECB Rate HikeEUR/USD Recovers from Six-Month Low After ECB Rate Hike As the week comes to a close, the EUR/USD pair has witnessed a modest rebound, reversing some of its previous day's losses when it hit a nearly six-month low. This decline was sparked by the dovish European Central Bank (ECB) rate decision, which, despite hiking rates for the 10th consecutive time by 25 basis points to reach a historic 4%, left the impression that the policy tightening cycle might have peaked. The ECB also downgraded its forecasts for CPI and GDP growth in 2024 and 2025, casting doubt on further rate hikes and leading to speculation about a potential rate cut in the first half of 2024. However, today's trading session saw some buying interest in the EUR/USD pair as investors took profits on the US Dollar (USD), which had recently rallied to its highest level since March. This USD pullback was partly driven by optimism in the markets following the People's Bank of China's (PBoC) decision to reduce the Reserve Ratio Requirements for local lenders by 25 basis points, marking its second such move this year. This action is expected to inject more liquidity into the world's second-largest economy and alleviate recession concerns. Additionally, China reported better-than-expected growth in Industrial Production and Retail Sales for August, further boosting market confidence. However, it's important to note that the EUR/USD pair's recovery may be limited due to the possibility of further policy tightening by the Federal Reserve (Fed). The Fed is widely expected to maintain its current policy next week, but strong US economic data keeps the door open for another 25 basis points rate hike by the end of the year. Recent data from the US, including Retail Sales and the Producer Price Index (PPI), have exceeded expectations, giving the Fed room to keep interest rates elevated. In summary, while the EUR/USD pair has seen a modest bounce, the overall sentiment suggests a bearish bias. Traders will be keeping an eye on ECB President Christine Lagarde's upcoming speech for potential market-moving cues, and US economic releases, including the Empire State Manufacturing Index and Prelim Michigan Consumer Sentiment Index, could influence USD price dynamics. Despite the recent rebound, the EUR/USD pair remains on track for its ninth consecutive week of losses, indicating the potential for further downside movement. Our preference Short positions below 1.07350 with targets at 1.0625 & 1.0600 in extension.
Short
by FOREXN1
9
EURUSD Short Up Move Before a Bigger DropECB Likely to Keep Interest Rates Steady for the First Time in Over a Year It's expected that the European Central Bank will keep key interest rates unchanged on Thursday. ECB President Christine Lagarde might hint at a potential rate hike later in the year. The Euro is gearing up for potential market turbulence based on the ECB's decision and Lagarde's press conference. The European Central Bank (ECB) is widely anticipated to maintain its current interest rates, marking the first time it has done so since early 2022. This decision will come after the conclusion of its monetary policy meeting on Thursday. Additionally, the ECB will release its updated staff projections for the quarter, and ECB President Christine Lagarde will hold a press conference at 12:45 GMT. What to Expect Regarding ECB Interest Rates and How It Could Impact EUR/USD The European Central Bank (ECB) is currently facing a challenging decision as it deals with the increased risks of stagflation. This decision is the most significant since it began raising interest rates in July 2022. In August, the Eurozone's annual inflation rate dropped to 5.3%, a significant decrease from the 10.6% recorded in October 2022. However, core inflation remains stubbornly above 5.0%, well above the ECB's 2.0% target. If the ECB maintains rates while adopting a hawkish tone, indicating the possibility of another rate hike by year-end, it is likely that EUR/USD will resume its upward trajectory towards 1.0850. Should the ECB announce a 25 bps rate hike, it would confirm a bullish reversal from multi-month lows. Nevertheless, the key drivers for additional gains in EUR/USD will depend on the policy guidance and President Christine Lagarde's statements. Conversely, if the ECB decides to pause rate hikes and lacks clarity on its future path, it will likely please doves and push EUR/USD back towards 1.0650. Other Key Market Insights for today, this week EUR/USD is holding onto its gains near 1.0750 as the US Dollar (USD) remains weak, following mixed US Consumer Price Index (CPI) data. On Tuesday, the German ZEW Economic Sentiment improved to 11.4 in September. However, the index measuring current conditions hit a three-year low at -79.4. The ZEW Institute stated that "Financial market experts are even more pessimistic about the current economic situation in Germany than they were in August 2023." In August, the annual United States inflation gauge rose to 3.7%, surpassing the expected 3.6% increase. The CPI increased by 0.6% in August, marking its largest monthly gain in 2023, in line with market estimates. The core CPI also increased by 0.3% and 4.3%, respectively, compared to estimates of 0.2% and 4.3%. US S&P 500 futures are rising due to market optimism, as the latest US data supports the idea of a Federal Reserve (Fed) pause. The yield on the benchmark 10-year US Treasury bond is declining, approaching 3.21%. The upcoming ECB event will play a pivotal role in shaping the short-term direction of the EUR/USD pair, with attention shifting to next week's Fed policy announcements.
Short
by financialflagship
EURUSD SHORT!! EYES ON DATA!What we see on the EU is quite clear, So we expect price to have bearish move in higher time-frame, in lower time frame we can collect some orders just above then we start out bearish move, I do not believe we break 1.08464, This week is challenging week for EU as we have different data coming in euro-zone, SO you have to be careful of the data and you have to study them properly then imply them on the chart, For now we are above important demand zone we expect to collect more liquidity from above to have a strong bearish move, Personally waiting for London Session to open then decide and see how it goes, Any question comment me bellow! @FxShzd team
Short
by FxShzd
EUR/USD -27/8/2023-• Technical long term picture for the Euro/Dollar pair is a bit mixed at the moment and at a critical area • The yearly rally from 0.95 to almost 1.13 represents the 61.8% retracement level of the 2021 decline from 1.22 to 0.95 • The above statement gets us wondering whether the 2022-2023 rally is a trend reversal and bullish trend or just a correction of the preceding decline • On the other side, there is an ascending channel and a higher highs higher lows identified since early March and it is still intact despite the recent drop • The bottom trend line support of the channel along with the previous swing low around mid 1.06s are very critical in this scenario • A break of the channel and the support level highlighted on the chart (1.0640) confirms a deeper decline and a break of the high lows series which invalidates the up trend • Further below there is a strong support around 1.05 followed by 1.0220 • If the bullish trend were to persist and the series of higher highs stay intact, we can expect a move up to 1.14-1.15 levels • What might trigger such dramatic moves is the jobs report in the upcoming week, inflation data in the coming weeks and any hint of a prolonged pause or surprise hike by any of the ECB or the FED
by RamziAbouAbdallah-CMT
EURUSD LONG!!Hey Traders, We back with new update on EU, So what we see here is quite clear and determined our view on chart We expecting more drop on our determined level according to different levels according to it's time-frame, In higher time-frame we are strongly bearish however in lower-frame we can expect price to have correction and ofc we can have trade counter-trend of weekly, So we expect bullish move in lower time-frame and then after correction in higher TF we can have trade on bearish trend, Stay tuned for new updates, we try to keep our community as update as possible, As always any question comment me bellow, Wish you all the best @fxshzd team
Long
by FxShzd
4
EUR/USD Short-Term prediction(6/2/2023)Hello Traders Last week EUR/USD was moving inside of a bearish channel and then, this week, took the chance of the weakened USD and broke out from it. It seems the bearish movement has been reversed and we should expect some upward corrections. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Long
by FortunaInvestments
2
#Euro Bearish despite doji formation, Primary Support at $1.0700Past Performance Euro is bearish, and gains on May 26 were turbulent, supportive of sellers. However, with a doji forming and prices trending below $1.0760, there are hints that sellers could press on. Thus far, prices are around last week's lows at $1.0700 and could break lower in spite of today’s gains. #EURUSD Technical Analysis The short-term trend favors sellers. Resistance remains at $1.0760, and it is yet to be seen whether bears will press on, forcing prices below $1.0700 primary support. The doji bar on May 26 points to indecision and volatility. After sharp losses in the past two weeks, the Euro will likely bounce back, closing above $1.0760. Still, if this pans out depends on how prices react at $1.0760 in the short term. A sharp, high-volume close could see the Euro edge higher. If not, losses mirroring the recent pattern could heap more pressure on the Euro, sending it toward $1.0500. What to Expect? Sellers are firmly in control, but price action may favor short-term bulls. All this depends on if buyers will build from last week, expanding towards the $1.0760 reaction line. Resistance level to watch: $1.0760 Support level to watch: $1.0700 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Crumbles as USD Bulls Push On, Up Next $1.0500?Past Performance The immediate trend is resoundingly bearish and is apparent in the daily chart. Despite earlier attempts by Euro bulls, gains were quickly reversed as USD pressed on. As it is, there may be more losses today as price action aligns with last week's trend. #EURUSD Technical Analysis The sharp drop on May 24 shows that USD bulls are firmly in control. Prices are now trending lower, retesting last week’s lows meaning every attempt higher may be an opportunity to double down. Notice that bear bars are riding the lower BB. It points to intense liquidation pressure. Therefore, with prices dropping, traders may ride the trend as long as $1.0850 or May 18 highs hold. The short-term target is $1.0500, or March 2023 low. What to Expect? The trend is clear, and bears are dominant. As USD bulls push harder in a breakout, traders may position themselves for more losses as bears press on. This preview is valid as long as prices are below May 18 highs. Resistance level to watch: $1.0850 Support level to watch: $1.0760 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Sell-Off Continues, Bears Step Up Targeting $1.0500Past Performance The Euro is dumping hard. From the daily chart, sellers are stepping up their liquidation, forcing the coin. Although yesterday's losses could be climatic, the bar is wide-ranging and defines the upcoming EURUSD price action. As it is, not only can traders target $1.0730 but also set sight on $1.5000 in days ahead. #EURUSD Technical Analysis Sellers are in the driving seat, and USD bulls are unrelenting. This formation is as expected as aligned in the weekly chart where sellers are confirming last week's losses. Moreover, bear bars are riding the lower BB, which remains diverged from the 20-day moving average, indicating intense selling pressure and high volatility. At this pace, and if today ends up lower, USD bulls may look to sell even more as long as prices are below $1.0850—or May 18 highs. In this case, the immediate target will be March 2023 lows at $1.0500. What to Expect? Unless otherwise there is an unexpected expansion reversing yesterday's losses, the downtrend remains, and sellers can continue dumping on every attempt higher toward May 18 highs. The short-term target at $1.0730 could be tested earlier as swing traders expect more drawdowns in the upcoming session. Resistance level to watch: $1.0850 Support level to watch: $1.0500 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro is Selling Off; Will Prices Drop to March 2023 Lows?Past Performance The Euro remains under intense selling pressure and is in a bear formation. USD bulls seem to be getting started, looking at the rapidity of the recent sell-off. From the daily chart, the immediate resistance level is at $1.0940 as sellers press on, targeting $1.0730 and $1.0500. #EURUSD Technical Analysis The sell-off continues, and USD bulls appear unrelenting. With the sell bars banding along the lower BB, price action suggests that bears have the upper hand with increasing momentum. As such, there could be unloading opportunities in lower time frames, provided prices are trending below $1.0940. At this pace, the Euro may drop even below $1.0730, especially if prices easily slip below yesterday's lows at around $1.0810. What to Expect? Sellers are in the driving seat, and the Euro is being dumped. From the weekly chart, there appears to be more legroom for bears to press on. There is a three-bar formation with last week's bar bearish, swinging price action to favor aggressive sellers. Resistance level to watch: $1.0940 Support level to watch: $1.0810 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
1
#Euro Collapsing, USD Bulls Target $1.0730Past Performance The Euro is disintegrating following the events of last week. With the path defined, sellers can continue looking for entries to unload as they press on, targeting $1.0730. The middle BB caps the upside as a floating resistance level, while $1.100 is a fixed reaction line that must be broken for buyers to push higher. #EURUSD Technical Analysis Presently, sellers have the upper hand, which will be the case, provided prices are banding along the lower BB. Notice that May 12's bar had no lower wick suggesting that the liquidation pressure was strong. This could spill to this week. In that case, local resistance will be at $1.0940, or around May 12's high. Any drop below 1.0850 may trigger even more sell-off, allowing sellers to double down in lower time frames. What to Expect? The downtrend is in motion after gains from March. In a breakout formation, prices are dropping, with above-average volumes pointing to participation. For this to change, there must be wide-ranging wicks reversing recent losses. Resistance level to watch: $1.0940 Support level to watch: $1.0730 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Euro Dropping, USD Bulls Targeting 1.0860 in a BreakoutPast Performance Euro bulls are losing momentum, allowing USD bulls to double down. As it is, EURUSD is within a bearish formation with primary resistance at $1.1100. With prices below the middle BB and 1.0965 broken, sellers can look for entries with targets at 1.0860 and 1.0730 being immediate and medium-term targets. #EURUSD Technical Analysis After sharp gains from March through April, prices are cooling off in a welcomed retracement. There is a double top following rejections of bulls early this month. Since prices are below the middle BB and 1.0965, breaking out below the range, traders can search for unloading opportunities. Tight resistance remains at 1.0965, but ideally, resistance remains at 1.1100. Short targets will be at 1.0860 and 1.0730, key reaction points of the Fibonacci retracement levels of the March to April trade range. What to Expect? USD bulls will likely press on, reading from the current sharp losses in the European session. Prices are dropping as USD bulls have broken below yesterday's lower range. As such, the bearish preview stands as long as prices are below the middle BB and $1.1100 Resistance level to watch: 1.1100 Support level to watch: 1.0860 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
GBPAUD Possible Long Setup H1On this pair, we have a market that is in conflict between two zones, one of supply and one of demand. According to my strategy, both zones are valid for the search for long or short scenarios. At the moment, the market has created a bullish setup that I have highlighted in yellow in the 1.86 zone. The objective will be to wait for the price to reach that zone and then aim for a long position with a target of 1.875. Let me know what you think. Happy trading to everyone. Forex48 Trading Academy
Long
by Forex48_TradingAcademy
EURUSD BREAKS OUT TO NEW HIGHSThe daily chart seemed to have put in the low for the month of May. Additionally, yesterday's daily candle closed above the daily resistance level of 1.10500 -- as drawn on the chart below. Therefore, for this trade, I'm looking for a BUY after a retest of the broken resistance level for a potential 8:1 reward/risk ratio. A close below 1.10500 would invalidate this trade. Also, we are approaching a key level 1.11200 -- keep an eye on that. Good luck! ~ Happy Trading, Cheers! 💰
Long
by Kav1ka