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Eurusdtrend

EURUSD: Clings to multi-day low!Hello traders, some information to help you trade better is here. The EUR/USD experienced a consecutive drop, resulting in the lowest daily close in two months, due to the US Dollar's increasing strength. The Greenback was supported by higher Treasury yields and risk aversion. Any recovery seen during the European session was short-lived, and the pair returned to trading near 1.0750. Economic data released on Wednesday revealed that the German IFO Business Climate Index dropped slightly to 91.7 in May from 93.4 in April (revised from 93.6), contrary to the market expectation of 93. However, this report did not have any impact on the Euro. On Thursday, a new estimate of Q1 GDP will be released by Germany, which is expected to remain at 0%. According to the FOMC minutes, officials had differing opinions on the future of interest rates. Some members believed that more rate hikes were necessary, while others argued against further policy tightening. Overall, there was uncertainty about the appropriate amount of policy tightening. The US Dollar experienced a slight weakening after the minutes, but still maintained most of its daily gains. Market sentiment deteriorated further amid a gloomy growth outlook and the debt-ceiling drama. Negotiations continue in Washington but no deal yet. On Thursday, economic reports due in the US include Jobless Claims.
Short
by Sphyn-Trader
1
EURUSD: The return and new position of EUREUR/USD dribbles below 1.0800 amid lackluster US debt ceiling talks, focus on ECB’s Lagarde, Fed Minutes The EUR/USD pair resumed its downward trend after a brief recovery, touching last week's low near 1.0760. The US dollar is performing better than the Euro, leading to a bearish bias for the pair. Despite optimistic statements from the European Central Bank (ECB), weak data from the Eurozone has failed to boost the common currency. Preliminary PMIs from May showed a decrease in the Manufacturing index, while the Service index managed to stay above market consensus. Inflation indicators improved slightly, but the Services sector's inflation rose, which is something that ECB officials have recently addressed. Germany's Manufacturing Index fell to a 36-month low, whereas the Service Index unexpectedly rose to its highest level in 21 months. Plan trade in the intro
Long
by Sphyn-Trader
1
SasanSeifi 💁‍♂️EURUSD👉4H 🔻▪️Hello everyone ✌ In the 4-hour time frame, as you can see, it is currently trading in the range of 1.079. The scenario that we can consider in the time of 4 hours, due to the positive reaction to the price range of 1.076, the possibility of a slight positive fluctuation of the price can be considered, and then we can see further correction of the price.The corrective targets are 1.075 / 1.073 / 1.071 / 1.069. ❗️ 🔸The possible trends are also marked on the chart. ⚠️In case of a positive fluctuation, to better understand the movement process,WE have to see how the price will react to the resistance range of 1.083/1.089. Otherwise, if it penetrates above the price range of 1.089 and stabilizes, the possibility of fielding the desired scenario can be considered. ❎ (DYOR)...⚠⚜ What do you think about this analysis? I will be glad to know your idea 🙂✌ IF you like my analysis please LIKE and comment 🙏✌
Short
by SasanSeifi
EURUSD: Russia is going to get rid of the Euros in their wealth.Russia announced that they were going to remove euros from their National Wealth Fund… This is not good news for euros folks… The Russians held over $11 Billion in euros… Hopefully, they will go about this in an organized and slow manner as to not move the markets wildly… But taking into consideration how much damage the European Union has done to the Russian economy, with their sanctions, could you blame the Russians if they decided to unload all euros on the markets and let them take their punishment? I’m just saying
Short
by Sphyn-Trader
EURUSD: testing 1.08 supportAs it was clearly shown in technical analysis, USD gained against EUR during the previous week. However, the saga over US debt ceiling continues, which might hurt USD in the coming period. Currently set deadline for a deal accomplishment is June 1st. After this date, Treasury Secretary Yellen noted quite a negative scenario which might happen, in case of a US default. Markets don’t like to hear such scenarios from Government officials, which is why majority of investors is currently on hold. There is still less then two weeks until June, which might be enough time to settle a proper deal. It might be expected that USD will benefit from such an outcome in the coming period. The EURUSD pair started the previous week at level of 1.09 and moved in a bearish way during the rest of the week. Support line at 1.08 has been clearly tested during the last two days of the week, but it has not been breached. Minimum level reached during the week was 1.076, however, EURUSD is finishing the week around 1.08 level. RSI is still moving close to oversold territory, but it has not been clearly reached during the previous week, leaving some space for the level of 30 for the coming period. Moving average of 50 days is still diverging from the MA200 counterpart, but the divergence is slowing down. The currency pair will start the week ahead by testing the support line at 1.08. At this moment, and considering relatively lower daily trading volumes, it should not be expected that this line would be clearly breached. Charts are pointing on a possibility for one short reversal to the upside, at least to the level of 1.09, before EURUSD reverts back to 1.08 support. Important news to watch during the week ahead are: Euro: German IFO business Climate for May, German GDP Growth rate and GfK Consumer Confidence USD: FOMC Minutes, GDP Growth Rate, PCE Index, Durable Goods orders, Michigan consumer Sentiment for May Certainly, any news on potential resolution of the debt-ceiling should be closely watched, as it might bring some market volatility.
by XBTFX
EURUSD: Next goalFundamental Overview Despite the bets for more rate hikes by the European Central Bank (ECB), the shared currency, EUR/USD, is not getting any respite. ECB President Christine Lagarde has warned that stubbornly high inflation needs to be curbed, and there are factors that can cause significant upside risk to the inflation outlook. However, this announcement does not impress investors or support the EUR/USD pair. Investors are now waiting for the ECB Bulletin for some impetus, while keeping an eye on Fed Chair Jerome Powell's appearance later this Friday. EUR/USD holds gains above 1.0800 amid weaker US Dollar, yields Plan trade in the intro
Long
by Sphyn-Trader
3
EURUSD one more upside leg coming EURUSD Analysis: Oversold Conditions Suggesting Potential Rebound The EURUSD currency pair has recently been displaying signs of being oversold on both the weekly and daily timeframes. This indicates that the selling pressure on the pair has been excessive, potentially setting the stage for a significant rebound in the near future. On the weekly timeframe, the EURUSD has been in a downtrend, with the price steadily declining over the past several weeks. This downward movement has pushed the pair into oversold territory, as indicated by technical indicators such as the Relative Strength Index (RSI) and the Stochastic oscillator. These indicators measure the strength and momentum of price movements and provide valuable insights into overbought or oversold conditions. The RSI, for instance, measures the speed and change of price movements and ranges from 0 to 100. A reading below 30 is considered oversold, suggesting that the selling pressure may have been excessive and a reversal could be imminent. Similarly, the Stochastic oscillator compares the closing price of an asset to its price range over a specific period, indicating potential overbought or oversold conditions. When the Stochastic oscillator drops below 20, it signals that the asset is oversold. When analyzing the daily timeframe, we observe a similar pattern. The EURUSD has experienced a downward trend with successive lower highs and lower lows. This consistent decline has also pushed the pair into oversold territory, raising the possibility of a price correction in the near term. Considering these oversold conditions on both the weekly and daily timeframes, traders and investors may anticipate a reversal or bounce in the EURUSD pair. If such a rebound occurs, it could lead to a substantial upward movement in the exchange rate. Identifying potential target levels for the rebound, we can look at key support and resistance levels or previous price levels of significance. Target 1 could be set at 1.117, which represents a previous support level that could now act as resistance. If the pair manages to break through this level, it could open the door for further upside potential. Target 2, on the other hand, might be set at 1.134, another notable resistance level where price could encounter significant selling pressure. Reaching this level would indicate a more substantial recovery for the EURUSD pair, potentially providing profitable trading opportunities for those anticipating such a move. However, it's important to note that market conditions can change rapidly, and technical indicators are not foolproof. Traders should always employ risk management strategies and consider multiple factors, such as fundamental analysis and market sentiment, when making trading decisions. In conclusion, the EURUSD currency pair currently exhibits oversold conditions on both the weekly and daily timeframes. This suggests that the selling pressure has been excessive, potentially paving the way for a significant rebound in the near future. While target levels of 1.117 and 1.134 can be identified, traders should exercise caution, use risk management techniques, and consider other factors before making trading decisions.
Long
by EIP-EverythingIsPlanned