EURUSD Upside more compellingEURUSD continued its rising trend at the expense of USD, as market expects more Fed rate cut to come.
ECB: Market price in one more cut this year
Fed: Market price in 75bps cut this year.
Technical:
Resistence: 1.12 and 1.1275 (July 18, 2023, high)
Support level to watch 1.113 (SMA 20), 1.11 (Fibonacci 23.6% retracement) and 1.1080 (SMA 100).
EURUSD-2
Post FOMC analysis19th September
DXY: Currently at 100.60, could bounce to retest bearish trendline. If 100.60 broken, could test 100 round number.
NZDUSD: Could trade higher, look for reaction at 0.63 resistance, Buy 0.6255 SL 20 TP 40
AUDUSD: Buy 0.6780 SL 30 TP 70
GBPUSD: Sell 1.3250 SL 30 TP 90 (BoE Rates Decision pending)
EURUSD: Sell 1.1130 SL 25 TP 50
USDJPY: Sell 142 SL 45 TP 90
USDCHF: Sell 0.8430 SL 20 TP 40
USDCAD: Sell 1.3560 SL 30 TP 40
Gold: Currently at 2585 could trade higher to 2600 and even form new ATH
EURUSD: Local Correction Ahead! Buy!
Welcome to our daily EURUSD prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 1.11894
Wish you good luck in trading to you all!
Fed Cuts Interest Rates by 0.5%Fed Cuts Interest Rates by 0.5%
As we have frequently noted, a rate cut by the Federal Reserve seemed inevitable. Market participants debated whether the reduction would be 0.5% or 0.25%, and those predicting a 0.5% cut were proven correct.
According to Bloomberg, a narrow majority of 10 out of 19 committee members supported the 50-basis-point cut. Seven members favoured an additional 0.25% cut later this year, while two opposed any further reductions.
Fed Chair Jerome Powell stated that the 0.5% cut "reflects our growing confidence that we can maintain labour market strength amid moderate growth and a steady decline in inflation to 2%". He added that interest rates are unlikely to return to the ultra-low levels seen for many years before the pandemic.
Financial markets reacted with increased volatility, with stock indices rising and the dollar strengthening slightly against other currencies. However, it is still too early to determine the impact of the Fed's decision on current trends.
Technical analysis of the EUR/USD chart shows that:
→ The ATR indicator reveals that the Fed's decision led to a volatility spike, though it was smaller than the panic-induced drop in the Japanese stock market on 5 August. It seems the markets were better prepared for yesterday’s news.
→ Following the announcement, the price approached the late August high near the psychological level of 1.120 but did not exceed it. The volatility spike also tested the 13 September low around 1.107.
→ As of this morning, the EUR/USD rate is near the median line of the blue uptrend channel, constructed using linear regression, and equidistant from the extremes set during the volatility spike.
This suggests that the market is in a relatively balanced position. Market participants may need to better understand the implications of the Fed's decision. Their revised assessments, reflected in trading decisions, will provide more insight into the prevailing trends.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
My EURUSD Sells update after FOMC meeting !! - Who's holding ??EURUSD Weekly Outlook (19/09/2024): Slight Bearish Bias
The EURUSD pair appears to be leaning towards a bearish bias this week, driven by several key macroeconomic factors and market dynamics. Let’s break down the main drivers shaping this outlook:
1. US Federal Reserve’s Hawkish Stance
The Federal Reserve's upcoming meeting is in sharp focus, with markets anticipating a potential reaffirmation of its "higher-for-longer" interest rate policy. Recent commentary and data suggest that inflation is still a concern in the U.S., and the Fed remains vigilant in maintaining a restrictive policy stance. The hawkish outlook for US rates bolsters the USD, placing pressure on EURUSD.
Expectations for future rate hikes or at least prolonged elevated rates support the dollar, as the interest rate differential between the U.S. and Europe continues to widen in favor of the USD.
2. European Central Bank (ECB) Dovish Tilt
Contrasting with the Fed, the ECB has shown signs of softening its hawkish tone. Last week, the ECB decided on what many view as a "dovish hike," raising rates but signaling that the peak of the hiking cycle may be near. The Eurozone's economic growth outlook is deteriorating, with concerns over a recession in key economies like Germany.
This dovish stance is weighing on the euro, as markets are pricing in fewer rate hikes going forward. With interest rate differentials playing a crucial role in FX markets, this is a key bearish driver for EURUSD.
3. Eurozone Economic Weakness
Recent economic data from the Eurozone has been disappointing. Manufacturing activity remains sluggish, and service sector growth has shown signs of stalling. Germany, the bloc’s largest economy, is particularly concerning, with its manufacturing PMI in contraction territory for months.
Furthermore, rising energy costs could add pressure on European economies, potentially reigniting inflationary concerns but also hindering growth. This weaker growth outlook could deter investors from taking long positions in the euro.
4. US Economic Resilience
On the other hand, the U.S. economy continues to show resilience. Robust labor market figures, strong consumer spending, and better-than-expected GDP data indicate that the U.S. economy is outperforming the Eurozone. This contrast in economic performance provides further support for the USD.
Moreover, the U.S. bond market continues to offer attractive yields relative to European bonds. Higher U.S. Treasury yields, especially on the long end of the curve, are a key factor driving demand for the dollar.
5. Geopolitical Risks & Energy Concerns
Geopolitical tensions, particularly surrounding the war in Ukraine and ongoing disputes over energy supplies in Europe, pose an additional downside risk for the euro. While energy prices have stabilized in recent months, any renewed supply disruptions as Europe heads into the winter season could reignite concerns over inflation and economic stability in the region.
If energy prices surge again, it could lead to further economic strain in the Eurozone, potentially pushing EURUSD lower.
Technical Outlook
From a technical perspective, EURUSD is currently testing key support levels around 1.0650–1.0700. A sustained break below these levels could open the door for a move towards the 1.0500 region, especially if the dollar continues to strengthen on Fed-related optimism.
On the upside, resistance lies near the 1.0800–1.0850 zone. Bulls would need to see a clear catalyst, such as dovish Fed signals or improved Eurozone data, to challenge these levels.
Conclusion
Given the hawkish Fed, dovish ECB, and weaker Eurozone economic data, EURUSD is likely to maintain a bearish bias this week. Traders should keep an eye on key U.S. data releases and any unexpected geopolitical developments that could impact market sentiment.
My personal Key levels to watch:
- Support: 1.0650, 1.0500
- Resistance: 1.0800, 1.0850
EURUSD H4 Analysis - Bullish - Price Target 1.13Pair Name = EURUSD
Timeframe = H4
Analysis = technical + fundamentals
Trend = Bullish
Details:-
EURUSD Price already moving above the main trend line. And Got a strong retesting from this Fib retracement level of 0.5 to 0.6. Now getting good volume. Price is gradually breaking the resistance levels. Our target Price will be around 1.12 to 1.13
XAUUSD H4 Analysis - Bullish - Next target 2650Pair Name = Gold
Timeframe = H4
Analysis = technical + fundamentals
Trend = Bullish
Details :-
Please see the Above chart To see The Gold Next Moves.
We are currently in new Price Ranges. But we are also using our previous analysis and data to Follow the exact Path.
Currently We Can see between two strong support and Resistance levels. As we can see at chart 2565 Gold Price level and 2580 Gold Price level.
EMA 5 is indicating the trend of the market. EMA Crossed over done between 2564 to 2568. That indicates the Bullish move.
This kind of market allow us to buy the dip and cash another next trend move.
Strongest retesting zone hit. The price level 2545 to 2556 price level.
EMA 5 Crossing levels:-
2564 To 2568
Retracement Zone:-
2545 To 2555
Bullish Gold Levels:-
2590
2615
2638
Bearish Gold Levels:-
2564
2556
2545
2530
Stay tune we Will update again when market will give up another good direction move. With Different different time frame we check the market to get the Accuracte analysis according market next move. Happy trading.
Hellena | EUR/USD (4H): Long to the resistance area 1.11587.Dear colleagues, in the last forecast I counted on the fact that wave “2” is completed, but now it is clear that it is not.
I think that the price will complete wave “2” in the area of 100% - 161.8% Fibonacci extension levels. This is the range of 1.09788 - 1.08690.
But from here I hope to see the beginning of the upward movement in wave “3”, because I still want to see an update of the highs and the nearest target is the resistance area at 1.11587.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
GBPUSD: After the FED, Awaiting the BOE and BOJ!The GBP/USD pair found support near the 1.3150 area on Thursday, temporarily halting the correction from the recent high of 1.3300, the highest level since March 2022. The 4-hour RSI remains close to 70, suggesting that the pair could enter overbought territory in the short term if it continues to rise. The bullish sentiment for GBP/USD has been supported by expectations of an aggressive rate cut from the Fed, which has weakened the US Dollar. This week, markets are awaiting the rate decisions from the Bank of England (BoE) and the Bank of Japan (BOJ). In the short term, GBP/USD could consolidate above 1.3200 before potentially resuming its rise toward 1.3260 and 1.3300. On the downside, a break below 1.3150 would open the door for a drop towards 1.3100, especially if US economic data supports a rebound in the dollar.
EURUSD H1 I Bearish Reversal Based on the H4 chart analysis, we can see that the price is rising toward our sell entry at 1.1112, which is a pullback resistance and a 38.2% Fibonacci retracement.
Our take profit will be at 1.1062, a pullback support level close to 61.8% Fibo retracement.
The stop loss will be at 1.1157, a pullback resistance level.
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#EURUSD - 19092024Yesterday, I was somewhat bullish DXY, saying that DXY should see further upside, and thus EURUSD could come down first, with DXY hitting 101.2 level before it pullback (and EURUSD to go up). But instead, market just range before FOMC, with the OP holding the lows and with FOMC rate cut, EURUSD rallied initially (not surprising) but market reacted differently and we got the sell in EURUSD and further selling now that Asia is open.
The point I am trying to make though is that, the DXY candle on Tuesday seem to indicate further upside but market was reacting differently throughout the day, but in the end it got a pin bar candle on daily and further upside for DXY. Thus, the daily candle does give clues.
Anyway given the huge down move currently, what is next for EURUSD? If we had based off the daily candle on close, I would have been bearish (especially with the bullish DXY daily candle) but now that the down move has happened (and missed), it would be tricky to know the next move, whether market will pull back from here or continue further down. And overall, EURUSD is not bearish on weekly basis.
But IMO, for now, based on current move, I would be cautiously bearish to catch the possible next move down on a pullback. And if I could have a reference, it would for DXY to go to 101.8, and for EURUSD itself, a possible move down to 1.1016.
Falling towards 61.8% Fibonacci support?The price is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance level which is also an overlap resistance.
Pivot: 1.1073
1st Support: 1.1019
1st Resistance: 1.1150
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Why the US dollar bear should tread with careThe USD saw a sharp reversal higher despite a 50bp cut, simply because the markets were positioned for a more dovish dot plot. I have argued in prior analysis the USD exposure is a bit stretched over the near-term, so perhaps shorting the USD is getting a bit stale. We also have several key markets at inflection points after a risk event. Matt Simpson takes a technical look.
WEEKLY FOREX FORECAST SEPT 16-20 USD EUR GBP AUD NZD CAD CHF JPYThis is Part 2 of the Weekly Forex Forecast for SEPT 16-20th.
In this video, we will cover:
USD Index, EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCAD, USDCHF, USDJPY
Enjoy!
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EURUSD → 1.11250 This WeekThe key level this week is in the 1.11250 - 1.11500 zone.
A fall in the euro to the minimum price of last Friday would give us the opportunity to re-enter the market in the buying zone that I specified in the chart.
Guys, what do you think? Leave a comment with your thoughts.
EURUSD → We have to waitDuring yesterday's session, the euro hit the key weekly level at 1.11250
The price movement today will be crucial, as tomorrow's interest rate decision is due and high volatility is expected. We have to keep in mind that the 1.11500 level has not yet been touched.
Guys, what do you think? Leave a comment with your thoughts.