EURUSD Analysis==>>Short term==>>(Fundamental + Technical)Today's Fundamental analysis of the FX:EURUSD highlights several key factors:
1-Expected ECB Rate Cuts : With Eurozone inflation dropping below 2% in September, there is growing speculation about further rate cuts by the European Central Bank (ECB) in both October and December. These rate cuts would likely weaken the euro, as lower borrowing costs reduce demand for the currency.
2-US Economic Performance : The recent U.S. labor market report exceeded expectations, showing solid job growth and a lower unemployment rate. This has strengthened the dollar, with investors now awaiting the upcoming U.S. CPI report(10 October), which may offer insights into future Fed policy
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Now, let's go to the technical analysis of EURUSD .
EURUSD is moving in the Heavy Support zone($1.0982-$1.0916) and Potential Reversal Zone(PRZ) , near the Support lines and 100_SMA(Daily) .
Also, Regular Divergence (RD+) between Consecutive Valleys .
I expect EURUSD to rise at least to near the Resistance zone($1.005-$1.0995) after breaking the Downtrend line .
Note: If EURUSD manages to break the Heavy Support zone($1.0982-$1.0916) and support lines, we can expect EURUSD to touch at least $1.0878.
Euro/U.S.Dollar Analyze ( EURUSD), 1-hour Time frame ⏰.
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