A prediction for eur/usdIn this post, we analyze the most popular Forex currency pairs, the EUR / USD or the Euro against the US Dollar. We identify important areas according to the fundamental news and modern price action and predict the signals.
A sharp drop in prices
Members of the Federal Reserve and the US Treasury Secretary commented on the decision to control inflation and reduce unemployment
Unemployment data from European countries such as Germany and France were also released.
European countries and the United States are in the post-corona era, accompanied by rising inflation, rising prices of labor and goods and services.
Rising inflation, on the one hand, and corona restrictions, on the other, have led to rising unemployment in Europe and the United States.
Federal Reserve
According to Mr. Powell, it is assumed that by the end of 2021 there will be no significant change in interest rates and inflation, and this will cause the dollar to depreciate.
Technical
The value of the euro against the dollar has reached one of its lowest levels in history, which was above the level of support from July 24 until yesterday. Level 1.156 is a strong resistance which is crossed several times during the night
The 1.159 ceiling is also an important resistance that was broken several times last night.
Forecast
I think the market is waiting for US PMI data to determine if the dollar is still falling. But according to the main news, the PMI is likely to be lower than expected.
This could weaken the dollar and strengthen the euro.
Signal
Buy between 1.157.6 and 1.157
Profits 1.159.8, 1.16, 1.162 and 1.165
Losses 1.156 to 1.155.5
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