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Fundamental Market Analysis for August 14, 2024 EURUSDThe Euro-dollar pair is trading on a flat note near 1.09900 in the early European session on Wednesday. Traders are opting for a wait-and-see approach ahead of important economic data releases from the Eurozone and the US. Keep a close eye on the Eurozone's gross domestic product (GDP) for the second quarter (Q2) and the US consumer price index (CPI) for July. Data released by the Bureau of Labor Statistics on Tuesday showed that the Producer Price Index (PPI) for US final demand rose 2.2% y/y in July versus 2.7% in the previous month, lower than the 2.3% expected. The monthly PPI increased 0.1% y/y after rising 0.2% in June. The core PPI, which excludes volatile food and energy prices, rose 2.4% y/y in July, up from 3.0% in June, below the market consensus forecast of 2.7%. Markets expect the Federal Reserve (Fed) to cut rates by 25 basis points (bps) in September, while a 50 bps rate cut in September is not out of the question, but it will be entirely data dependent. Atlanta Fed President Raphael Bostic on Tuesday emphasized that the latest economic data has given him "more confidence" that the Fed will be able to bring inflation back to the 2% target. Still, more evidence is needed before he would be willing to support an interest rate cut. The Eurozone economy is estimated to have grown 0.3% in the second quarter from the previous quarter and 0.6% from a year earlier. Weaker than expected GDP growth figures may have a negative impact on the Euro (EUR) exchange rate against the US Dollar (USD). Trading recommendation: Watch the level of 1.09900 if the level is fixed above, take Buy positions. On the rebound take Sell positions.
by Fresh-Forexcast2004
EUR/USD Daily Chart Analysis For Week of Aug 9, 2024Technical Analysis and Outlook: The Eurodollar demonstrated consistent upward momentum during this week's trading session, reaching our Mean Resistance level of 1.094 and retesting the completed Inner Currency Rally at 1.094. The substantial breakthrough of these targets resulted in establishing a new Mean Resistance at 1.099 and a complete Inner Currency Rally at 1.100. The prevailing analysis indicates a sustained downward trajectory toward a critical Mean Support level of 1.089. The breach of this significant target may prompt rapid downward movements, potentially extending to target the subsequent Mean Support level of 1.079.
by TradeSelecter
EURUSD Analysis==> H&S patternEURUSD reacted well to the Potential Reversal Zone(PRZ) and Heavy Resistance zone($1.1185-$1.098) . According to the theory of Elliott waves , it seems that EURUSD has succeeded in completing five impulsive waves , and we should wait for EURUSD to decline . From the point of view of Classical Technical Analysis , it seems that Head and Shoulders Pattern is likely to form. I expect EURUSD to continue to decline, at least in the Support zone($1.0885-$1.0860) . Euro/U.S.Dollar Analyze ( EURUSD), 1-hour Time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
4
Fundamental Market Analysis for August 8, 2024 EURUSDThe Euro-dollar pair bounced back towards 1.0935, breaking a two-day losing streak during Asian trading on Thursday. A softer US dollar (USD) is providing some support to the major pair. Nevertheless, risk-off sentiment may limit EUR/USD gains amid escalating geopolitical risks. Later in the day, the weekly US initial jobless claims report will be released. Last week's weak US jobs report for July sparked speculation of deeper interest rate cuts by the Federal Reserve (Fed) this year, which continue to undermine the US Dollar. Financial markets are convinced that the Fed will cut interest rates at its next meeting in September, increasing the rate cut bets by 50 basis points (bps) rather than 25 bps, to nearly 83%, according to the FedWatch tool. On Wednesday, European Central Bank policymaker Olli Rehn said the ECB could continue cutting interest rates if there is confidence among policymakers that inflation will slow in the near term. The central bank left interest rates unchanged at its July meeting. ECB President Christine Lagarde said during a conference on the coast that any move in September remains an open question. Meanwhile, rising geopolitical tensions in the Middle East could put pressure on risk assets such as the euro (EUR). The market turned cautious after CNN reported on Wednesday that Iran and its supporters are preparing for a potential retaliatory strike on Israel. According to the latest reports, the retaliation could be delayed until Thursday or Friday. Trading recommendation: Trade predominantly with Buy orders from the current price level.
Long
by Fresh-Forexcast2004
EUR/USD Surges to New Highs Amid US Dollar WeaknessThe EUR/USD pair extended its rally early Monday, reaching its highest level since March at approximately 1.0970. Disappointing labor market data from the US caused a significant selloff of the US Dollar (USD) during the American session on Friday. Nonfarm Payrolls in the US increased by 114,000 in July, falling well short of the market expectation of 175,000, and the Unemployment Rate rose to 4.3% from 4.1% in June. In response to the July jobs report, the CME FedWatch Tool indicates that markets are nearly fully pricing in a 50 basis point Federal Reserve (Fed) rate cut in September. The technical outlook for EUR/USD shows overbought conditions, suggesting that the pair may continue to rise toward the next supply area around 1.1033, where a price reversal is possible. It will be crucial to monitor the COT report in that area. We are planning to place a pending order in anticipation of this movement. ✅ Please share your thoughts about EUR/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
by FOREXN1
5
EUR/USD Daily Chart Analysis For Week of Aug 2, 2024Technical Analysis and Outlook: In the most recent trading session, the Eurodollar displayed its ability to recover from the completed Inner Currency Dip of 1.082 and Mean Support levels of 1.081 and 1.078. The prevailing analysis indicates a sustained upward trajectory toward a Mean Support level and its associated completed Inner Currency Dip of 1.094. These critical targets may prompt swift downward movements toward a Mean Support of 1.083, potentially extending to target the subsequent Mean Support level of 1.078.
by TradeSelecter
EUR/USD Daily Chart Analysis For Week of July 26, 2024Technical Analysis and Outlook: During the trading session of the current week, the Eurodollar sustained its decline by the Weekly Chart Analysis for the Week of July 19. The prevailing analysis indicates a continued downward trajectory toward a Mean Support of 1.081 and its corresponding Mean Support of 1.078. The anticipated downward movements will result in an initial interim rebound, potentially reaching a Mean Resistance of 1.089.
by TradeSelecter
EUR/USD Short ideas from 1.08900 back downMy analysis for EUR/USD aligns with my outlook on other major pairs against the dollar, focusing on sell opportunities. The continued break of structure to the downside has left a promising 14-hour supply zone that looks ideal for short positions. Within this zone, we might see a deeper mitigation of around 50%, making it easier to identify the UTAD (upthrust after distribution). Once the price forms a Wyckoff distribution on the lower time frame, I will look for a precise entry point. Confluences for EU Shorts are as follows: - Price currently formulating lower lows and lower highs. - Supply zone on the 14hr that has caused a break of structure to the downside. - Lots of liquidity to the downside in the form trend line and Asia lows. - DXY (DOLLAR) is also bullish on the higher time so overall this is a PRO trend trade idea. P.S. If the price continues to break down, I will be looking out for new supply zones until the price approaches the 23-hour demand zone, where short-term buys may become viable. Remember NFP Friday this week so stay vigilant!
Short
by Hassan_fx
1
Fundamental Market Analysis for July 26, 2024 EURUSDThe Euro-dollar pair is trading near 1.08600 during the Asian session on Friday, continuing to rise after rebounding from the two-week low of 1.08250 recorded on Wednesday. The rise in EUR/USD is attributed to a weaker US Dollar (USD) ahead of the release of the US Personal Consumption Expenditure (PCE) price index for June. However, the US Dollar may limit its decline as stronger US economic data has reduced some expectations of a rate cut in September. On Thursday, US gross domestic product (GDP) for the second quarter (Q2) came in stronger than expected. This followed the US PMI data released on Wednesday, which pointed to an acceleration in private sector activity in July, indicating that growth in the US is resilient despite higher interest rates. US GDP rose 2.8% on a seasonally adjusted and inflation-adjusted annualized basis from the previous reading of 1.4% and beat forecasts of 2%. In addition, the composite PMI rose to 55.0 from a previous reading of 54.8, the highest reading since April 2022 and indicative of steady growth over the past 18 months. The Euro struggled as the European Central Bank's (ECB) near-term outlook remains uncertain due to strong expectations of additional rate cuts. The ECB is expected to cut interest rates two more times this year as price pressures are expected to remain at current levels for a year and only return to the bank's target level in 2025. Trading recommendation: Trade predominantly with Buy orders from the current price level.
Long
by Fresh-Forexcast2004
Fundamental Market Analysis for July 23, 2024 EURUSDEUR/USD fluctuated just below 1.09000 on Monday as the new trading week started on a rather weak note. There will be little meaningful data in the first half of the trading week, so traders will have to be on the lookout for key Purchasing Managers' Index (PMI) data on Wednesday in both the EU and the US. Things will remain roughly flat on Monday and Tuesday, with markets looking ahead to the start of the week's calendar of meaningful economic data on Wednesday. Tuesday will see the release of average US existing home sales data for June. EUR/USD traders will focus on Wednesday's double block of purchasing managers' index (PMI) data. The EU Manufacturing and Services PMI for July is expected to rise slightly, while the Services PMI for the month is expected to come in at 53.0, up from 52.8 in the previous month. On Wednesday, the US will release its own PMI data. Forecast models predict that the July US Services PMI will fall to 54.4 from the previous reading of 55.3. Thursday will continue the trend of important data releases from the U.S., particularly the second quarter 2024 annualized gross domestic product (GDP). The trading week will end on Friday with the release of the Personal Consumption Expenditures (PCE) price index, which will provide key US inflation data. Trading recommendation: Watch the level of 1.09000. If consolidate above it, take Buy positions, on the rebound take Sell positions.
by Fresh-Forexcast2004
EUR/USD Short ideas from 1.09100 or 1.09300My bias for EU is similar to GU, as I am mainly looking for sell opportunities. Last week’s price distribution across higher time frames has left promising zones to watch, specifically the 4-hour and 17-hour supply zones. If these zones are mitigated, I will look for redistribution within them. If the price continues to drop, I will look for counter-trend trades to catch retracements, possibly from the 11-hour demand zone I’ve marked or the 5-hour demand zone if the price goes deeper. Confluences for EU Sells: Newly created supply zones near the UTAD show promising selling opportunities. There is significant liquidity to the downside in the form of Asia lows and imbalances that need filling. The dollar is bullish, aligning well with the bearish bias for EU. This is a pro-trend trade on the higher time frame. P.S. I will wait to see how the price action unfolds, as the current price is somewhat distant from my points of interest (POIs), but I expect the price to keep dropping.
Short
by Hassan_fx
EUR/USD Daily Chart Analysis For Week of July 19, 2024Technical Analysis and Outlook: During the current week's trading session, the Eurodollar exhibited a notable surge once again, exceeding the Mean Resistance level of 1.090 and the previously attained Inner Currency Rally of 1.091, ultimately reaching this week's Inner Currency Rally of 1.094. The prevailing analysis indicates a sustained downward movement towards Mean Sup 1.086 and its corresponding Mean Sup 1.081. The concluded downward movements are anticipated to yield an initial interim rebound, such as Mean Res 1.086.
by TradeSelecter
EUR/USD forecast: Currency Pair of the WeekThe EUR/USD poked its head above the June high of 1.0916 to reach its best level since March, after the US Empire State Manufacturing Index came out weaker than expected earlier. The US dollar has remained under pressure against most major currencies, albeit not so much against the likes of the New Zealand dollar following last week’s dovish RBNZ meeting. Still, against the likes of the euro and pound, as well as gold, the greenback has fallen further after last week’s weaker-than-expected US CPI data boosted expectations that the Federal Reserve will loosen its monetary policy at its September meeting. Already cutting rates in June, the European Central Bank will be in focus again this week. This time, no rate cuts are expected from the ECB, which, together with reduced political uncertainty in Europe and weakness in US data, should all help to keep the euro supported against the US dollar, maintaining the short-term EUR/USD forecast in bulls’ favour. EUR/USD forecast: Key macro highlights this week Apart from retail sales and a handful of other macro pointers, the US economic calendar is quite quiet this week. The same could be said about Europe’s data calendar had it not been for the ECB policy decision on Thursday. Here are this week’s key macro highlights, relevant to the EUR/USD pair: - Tuesday - US Retail Sales & Core Retail Sales m/m - Wednesday - US Building Permits US Industrial production m/m - Thursday - Eurozone Main refinancing rate & monetary policy statement US unemployment claims ECB Speech EUR/USD forecast Already, we have seen the Empire State Manufacturing Index print a below-expected -6.6 reading this week, which helped to keep the pressure on the US dollar. But it is all about retail sales on Tuesday, when building permits and industrial production data will be published too. US retail sales expected to fall The health of the US consumer is deteriorating, as was reflected by last month’s release of the May retail sales estimate, which came in at just +0.1% month-over-month. That followed a downwardly revised 0.2% fall in April. Sales at gasoline stations were particularly weak last time, falling 2.2%, while those at furniture stores, an indication of demand for long-lasting goods, slipped 1.1%. Meanwhile, recent data releases have mostly surprised to the downside and inflation has cooled more than expected. If retail sales again disappoint, then the odds of a September rate cut could surge, especially in light of last week’s weaker consumer inflation data (and UoM’s Inflation Expectations survey). ECB rate decision The European Central Bank’s next rate decision is on Thursday, July 18 at 13:15 BST. Don’t expect any fireworks this time, after it delivered its first rate cut in June. That decision was built up so much by the ECB that they simply had to cut even if policymakers were unsure about the path of inflation. Indeed, the minutes of that meeting have since revealed greater uncertainty in ECB staffs’ outlook for inflation, while private consumption showed no convincing evidence of picking up either. The ECB will remain data-dependent, something which Christine Lagarde highlighted at the last press conference in June and said there will be no pre-commitment to a particular rate path. So, don’t expect another rate cut at this meeting, but watch out for clues about the next move. EUR/USD forecast: Technical analysis The EUR/USD has broken above a couple of bearish trend lines that were there from July and December of last year. Rates have also moved and stayed above their 21-day exponential and 200-day simple moving averages. The technical EUR/USD forecast is therefore bullish as things stand. But given that it had struggled around the current levels between 1.0900 to 1.1000 area earlier this year, I wouldn’t be surprised if it hangs around for a few days here, potentially until the ECB rate decision is out of the way. Still, the short-term path of least resistance is clearly to the upside, so I wouldn’t necessarily look for bearish trades here unless the charts tell me otherwise. Key short-term support is now seen between 1.0840-1.0865 area, followed by 1.0800, where the 200-day average now resides.
by WHSelfInvest
EUR/USD Shorts from 1.09200 (Sell to Buy) My EU bias currently is to catch a temporary move down. As price approaches a high-quality 11-hour supply zone, I'll be watching for a Wyckoff distribution to confirm a sell opportunity. Whether or not price mitigates the supply zone, I'm expecting it to retrace to a newly formed demand zone, ultimately aiming to make a new high. Therefore, once price reaches the 10-hour demand zone, I will be looking for buy opportunities. Confluences for EU Sells are as follows : - Price has been very bullish, breaking structure to the upside. - The current trend is bullish, matching the dropping DXY. - There is significant liquidity to the upside, with strong bullish candles on the higher time frame. - Demand zones have been created near the current price, indicating potential for another rally. P.S. Once price returns to the 10-hour demand zone, I will be on the lookout for a Change of Character (CHOCH) on the lower time frame to confirm my buy opportunities. For now, I'll wait to see how Monday's market opens.
Short
by Hassan_fx
EUR/USD Daily Chart Analysis For Week of July 12, 2024Technical Analysis and Outlook: During the current week's trading session, the Eurodollar has demonstrated a substantial surge, surpassing the Mean Resistance level of 1.085 and reaching the designated target of Mean Res 1.090 and the previously completed Inner Currency Rally of 1.091. The prevailing analysis suggests a potential downward movement for the Euro toward the Mean Support level of 1.086, with additional extensions identified at Mean Support levels of 1.081 and 1.078, respectively.
by TradeSelecter
EURUSD Bullish Direction Money heist planMy Dear Robbers / Traders, This is our master plan to Heist EURUSD bank based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money. Stop Loss : Recent Swing Low using 2h timeframe Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. support our robbery plan we can easily make money & take money 💰💵 Join your hands with US. Loot Everything in this market everyday
Long
by Thief_Trader
Shorting EUR/USD Amid Market SpeculationsWe are taking a strategic short position on the EUR/USD pair. The major currency pair has experienced strong gains recently, primarily driven by the US Dollar (USD) being under pressure due to firm market speculation that the Federal Reserve (Fed) might reduce interest rates in September. Despite this bullish momentum, the EUR/USD pair seems to be approaching a resistance level that could trigger a reversal. This anticipated reversal aligns with our identified Supply area and the 78.6% Fibonacci retracement level. These technical indicators suggest that the pair is poised for a potential downturn. Additionally, our analysis of the Commitment of Traders (COT) report, focusing on non-commercial speculators, supports this outlook. The data indicates a possible shift in market sentiment that could favor a bearish move. Coupled with our seasonal forecast, which also points towards a downturn, the confluence of these factors strengthens our case for shorting the EUR/USD pair. In summary, the combination of technical resistance, COT data, and seasonal trends presents a compelling case for a short position on the EUR/USD. We are confident that the alignment of these factors provides a robust foundation for our trading strategy, anticipating a reversal from the current levels. ✅ Please share your thoughts about EURO in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
CME:6E1!Short
by FOREXN1
5
EURUSD Roadmap==>>1-hour time frameEURUSD is moving near the Resistance lines and Potential Reversal Zone(PRZ)($1.084-$1.081) . According to Elliott's wave theory , EURUSD seems to be completing the Expanding Ending Diagonal . Also, we can see Regular Divergence(RD-) between two Consecutive Peaks . I expect the EURUSD to decline at least to the target I have specified on the chart. Euro/U.S.Dollar Analyze ( EURUSD), 1-hour Time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
10
EURSEK Trade Update: Now Up 1300 Pips!🚀 EURSEK Trade Update: Now Up 1300 Pips! 🚀 In this update video, I'm excited to report that our past trade recommendation for EURSEK is now up an incredible 1300 pips! This strong move today brings us closer to our target price of 11.62910. Don’t be scared of trading exotic pairs – they can offer fantastic opportunities. I'll break down the factors driving this surge and why I believe we're on track to hit our target. We’ll cover: Recap of the initial trade recommendation Analysis of the current market conditions and factors behind the strong move Updated strategy and what to watch for as we approach the target price Join me as we celebrate this massive gain and stay focused on reaching our goal. Don't forget to like, comment, and subscribe for more trading updates and expert insights. Let's ride this momentum together! 🚀💹 And remember to hit the Boost Button on this video to support our Trading View community! Disclaimer: Forex trading involves significant risk and is not suitable for every investor. Carefully consider your financial situation and risk tolerance before entering any trade. Always perform your own research and seek advice from a licensed financial advisor if needed.
Long
by TruthakaWallStreetakaCookie
EUR/USD Daily Chart Analysis For Week of July 5, 2024Technical Analysis and Outlook: During this week's trading session, the Eurodollar has surpassed the Mean Resistance level of 1.074 and is currently positioned below the Mean Resistance level of 1.085. The present analysis indicates a potential down movement for the Euro to the Mean Resistance level of 1.078 and subsequently decrease to the Mean Support level of 1.074. However, it is essential to acknowledge the potential for an upward extension towards the Mean Resistance level of 1.090.
by TradeSelecter
Early Bird Special: EURNZD Poised for 600 Pips – Get In Before 🌟 Early Bird Special: EURNZD Poised for 600 Pips – Get In Before the Entry Point! 🚀 In this exclusive video, we're eyeing a massive 600 pip potential on EURNZD. This is an early bird special, and we're positioning ourselves ahead of the entry point. Make sure to watch the video carefully to understand the full setup and maximize your gains. We'll cover: Detailed analysis of the EURNZD trade setup Key indicators and market conditions signaling the potential 600 pip move Step-by-step guide on how to enter this trade at the optimal time Risk management tips to safeguard your investment Join me as I break down this lucrative opportunity and show you how to capture these pips before the crowd. Don't forget to like, comment, and subscribe for more high-impact trading insights. Let's seize this early bird special together! 🚀💹 And remember to hit the Boost Button on this video to support our Trading View community!
Long
by TruthakaWallStreetakaCookie
EUR/USD Maintains Bullish Momentum, Surpasses 1.0800As anticipated in our previous forecast, EUR/USD has continued its bullish momentum, climbing above the 1.0800 level. Analyzing the chart, you can observe the areas where we have marked the closest supply zone, which we expect the price to reach before any potential decline. Disappointing macroeconomic data releases from the US triggered a selloff of the US Dollar (USD) during American trading hours on Wednesday, aiding the EUR/USD's upward movement. The ADP reported that private sector payrolls increased by 150,000 in June, missing analysts' estimate of 160,000. Additionally, the Department of Labor's weekly data showed 238,000 first-time applications for unemployment benefits, up from 233,000 the previous week. Furthermore, the ISM Services PMI fell to 48.8 in June from 53.8 in May, indicating a contraction in the service sector's business activity. The Employment Index and the Prices Paid Index of the PMI survey also dropped to 46.1 and 56.3, respectively. Looking ahead, tomorrow's release of USD Average Hourly Earnings m/m and Non-Farm Employment Change is expected to introduce further market volatility. Our forecast remains bullish until the price reaches the identified supply area. ✅ Please share your thoughts about EURUSD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
5