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EURO-USD

EURUSD Outlook 31 March 2023Recent Euro data indicated that inflation growth in Germany has eased which was one of the contributors towards the upward move on the EURUSD. Overnight the EURUSD traded up to the 1.0930 resistance area, but has since retraced below the 1.09 round number price level. If the DXY bounces strongly from the 102 price level, with a sustained recovery in strength, look for the EURUSD to trade below the 1.0860 price level to signal a more sustained downside potential toward the 1.0760 support level. However, following with the trend, if the EURUSD breaks above 1.0930, the next key resistance level is at 1.1035 (which was the last swing high, reached in February(
Long
by JinDao_Tai
US Futures - Mid-UK Open - Rejection of 4,000?Good morning! Let's take a look at today's financial news. European shares rebounded yesterday, with bank shares leading the way, after authorities and regulators took action to ease concerns about the global banking industry. The US banking system was also affirmed to be "sound and resilient" by the US Financial Stability Oversight Council . Meanwhile, business confidence in Germany , the largest economy in Europe , improved more than expected, mainly due to business expectations . Gold prices dropped for the second consecutive session to below $1,970 per ounce on Monday, following government efforts to stabilize the banking system. The Federal Deposit Insurance Corporation announced that First Citizens Bancshares Inc. would acquire Silicon Valley Bank's deposits and loans, which helped soothe investors' anxiety for now. Deutsche Bank shares also rose by over 3% in Europe . Earlier this month, fears of an economic recession caused by recent banking turmoil in the US and Europe led to investors seeking the safe-haven of gold , pushing its price up by more than 7%. The pound sterling fell to $1.22 on Monday, down from its seven-week high of $1.234, due to concerns about the global banking system and the possibility of a recession in the US . Last week, global bank shares fell following the sudden collapse of two US lenders and the rescue of embattled Swiss bank Credit Suisse . However, investors welcomed the news that First Citizens BancShares Inc. would acquire all of Silicon Valley Bank's deposits and loans from the regulator. Meanwhile, the Bank of England increased its key bank rate by 25bps to 4.25%, while leaving the door open for more rate hikes should inflation persist. The euro remained slightly above $1.075 on Monday, down from its seven-week high of $1.0929, due to investors dumping riskier currencies amid worries over global banking turmoil and recession . Despite this, the Euro is likely to regain ground as the policy divergence between the ECB and Federal Reserve is set to widen. In contrast, markets expect a near 90% chance that the Fed stands pat in May and delivers a rate cut in July. Brent crude prices reached over $75 per barrel on Monday, building on gains from the previous week as assurances from US regulators [/b
U
by TayFx
2
EURO cup and Handle?I originally predicted the dollar to pull the pair back to parity, but I may have to invalidate that prediction. Currently the pair seems to be forming a cup and handle pattern. The handle will allow the dollar to pull the pair back onto the critical support at 1.07, the 61.8% Fibo retracement rate. This rate also coincides with the blue 23.6% Fibo and the 50-day MA currently at 1.072. If the dollar fails to hold the pair below the 50-day MA rate and the critical support at 1.07 it could allow the euro to push the pair back towards 1.15 (the high just before the Fed started its hiking cycle).
by Goose96
1
EURUSDEURUSD has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis. In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram. ⚠️ Disclaimer: This is a personal opinion and you are responsible for any trading decisions.
Short
by HamidRamezani1992
2
EURUSD weekly chart: Trendline retestIf we look at weekly chart of EURUSD , we see a classical trendline retest (price nicely broke down the trendline in April 2022, with a valid breakdown after Tom Demark criteria). Price is likely to continue bearish next months. Tom Demark breakdown projection sends us below 1.00. Price also failed to establish itself in the yearly bull zone - above yearly Camarilla R1, rejecting from there. Typically, from the yearly close, price travels either to above yearly Camarilla R3 or below yearly Camarilla S3 Hence a downtrend to yearly S3 (1.0) is quite likely. For educational purposes only.
Short
by ICFX
1
EUR/USD meets resistance around 1.0900 ahead of US docketAfter a brief test of the 1.0900 regions earlier in the session, EUR/USD now comes under some mild downside pressure and revisits the 1.0880 zone at the end of the week. EUR/USD seems to have met some resistance zone in the area of multi-month peaks near 1.0930 (January 26) amidst the broad-based consolidative mood in the global markets and some lackluster recovery in the greenback. On the latter, better-than-expected results from key US fundamentals on Thursday lent support to the buck and prevented the USD Index (DXY) from shedding further ground, which eventually morphed into the ongoing corrective decline in the spot.
by FOREXN1
7