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EUR/USD The next target may hit hereEUR/USD Outlook: Reversal of Bearish Trend with Potential for Upside to this Level Market focus is on the European Central Bank (ECB) interest rate decision on Thursday, March 16, with an expectation for a 50 basis point increase. Additionally, Tuesday, March 14, will see the release of the US CPI for February, which will be closely watched. Technically, EUR/USD is inclined towards a bullish trend in the short term. EUR/USD Fundamental Outlook: Focus on US CPI on Tuesday Given the persistently high inflation in the Eurozone, which remains well above the ECB's 2% target level and the continued rise in core inflation, the market generally expects the ECB to raise interest rates by 50 basis points in March. ECB President Lagarde has previously stated that all recent data confirms that a 50 basis point rate hike is highly probable. The ECB has also emphasized that it will not make any pre-commitments regarding interest rates, and future rate hikes will depend on specific data. Furthermore, it is worth noting that there is increasing disagreement within the ECB, with hawkish officials calling for four consecutive 50 basis point rate hikes, while other dovish officials suggest that the lag effect of interest rate increases should be considered and that action cannot be based solely on data. After the interest rate decision on Thursday, March 16, the ECB press conference will be the focus of market attention. In addition to the ECB interest rate decision, the US CPI for February, which will be released on Tuesday, March 14, will be another key driver for EUR/USD. The market generally expects the US CPI to have an annual rate of 6.00% in February, lower than the previous value of 6.40%; the core inflation rate is also expected to continue to fall slightly to 5.50%, slightly lower than the previous value of 5.60%. The latest US nonfarm payrolls report showed a significant increase in employment in February, exceeding expectations, but wage growth slowed, and the unemployment rate rose from 3.4% to 3.6%. The Federal Reserve is closely monitoring changes in economic data, and if inflation data continues to decline, it will further support the Fed's decision to raise interest rates by only 25 basis points in March. EUR/USD Daily Trend Chart: Bullish On the daily chart, as of now, EUR/USD has rebounded significantly, largely reversing the downward trend of the currency pair since early February and is inclined towards a bullish trend in the short term. The immediate resistance may be at the high point of February 14 (1.0804) and the low point of January 31 (1.0802). The market sentiment is currently heavily bullish, and there will be no significant correction for the time being. Last week's recommendation to buy on the rise resulted in a significant increase, and it is advisable to continue holding and looking for further upside potential. Market changes are fast-paced, and it is essential to keep track of developments to avoid unnecessary losses.
Long
by Navigation-h
1
Trend: Continuing to be bullishPushed lower by Powell's hawkish comments on Tuesday, the euro/dollar pair experienced a significant decline, but then found support near the February low and began to rebound moderately. If the price continues to recover, the initial resistance will be around 1.0690. Further strength will shift market focus to the psychological level of 1.0800. Conversely, if the bears return and upward pressure subsides, the initial technical bottom will be near 1.0530. If this area is breached, the pair may drop further towards the area of 1.0485-1.0460, which is a convergence of the January low, the medium-term uptrend line, and the 38.2% Fibonacci retracement level of the rebound from September 2022 to February 2023.
Long
by Navigation-h
1
EURUSD: Buy at low levels today This is the 30-minute chart of EURUSD, where I've marked the resistance zone and strong resistance level, as well as the entry points. The overall trend today is bullish, with the first step being to see if the resistance zone can be broken. If it can, we'll look to the strong resistance level for our next target. If it can't be broken, we can enter a short position after taking profits on our long position, with the profit target near 1.053-1.045. Today is Thursday, and I don't expect the market to have too much volatility, especially since there will be a highly influential non-farm payroll report tomorrow. The market should maintain minor fluctuations as it awaits the release of this data. Of course, we can't rule out the possibility of the market moving in anticipation. If the non-USD market surges ahead of the report and the data is unfavorable for the USD, the non-USD market will probably continue to rise, but the amplitude won't be too large. Conversely, if the USD is bearish and the non-USD market surges ahead of the report, it will likely experience a significant drop after the data is released. I'll provide a more detailed analysis based on the market trends before the release of tomorrow's data. Today's trading should focus on buying at low levels. Thank you for your attention and support. I'll continue to share more interesting trading strategies, and if you have any questions, please leave a message and I'll provide you with the most reliable solution to help you solve your problems! Wishing you a wonderful day!
Long
by triumphing
2
EURUSD: The long power of the exchange rate is gatheringAs mentioned in our article yesterday, as long as EUR/USD remains above 1.056, the bearish momentum is still limited, and once EUR/USD stabilizes above this position, the euro may point to 1.0650/60.The current exchange rate is 1.06482, which is fully in line with my expectations yesterday. On the fundamental side, more hawkish remarks made by several members of the European Central Bank (ECB) support the euro and support the reasons for increasing huge interest rate increases in the coming months; in addition, the generally positive tone around the stock market is considered to put pressure on the safe-haven dollar and provide additional support for EUR/USD. On the technical side, the continued strength of the pair and its foothold above the convergence resistance level of 1.0645-1.0650 are conducive to the rise of the market.In addition, the oscillators of the daily chart have just begun to move in the positive area and support the prospect of additional gains.However, any further increase may face some resistance in the 38.2% Fibonacci retracement area of about 1.0725, followed by the 50% Fibonacci retracement area of about 1.0785 and the 1.0800 integer mark.Some follow-up buying will negate any recent negative tendencies and will continue to push up EUR/USD. On the 4-hour chart, the exchange rate is currently falling under the suppression of the short-term moving average, and the short-term technical indicators are biased towards the air. However, in the short-term, I think this is a technical correction to the previous increase. It is conducive to the market to consolidate the bottom while accumulating kinetic energy, which is more conducive to the small-level market to rise, and below at the position of 1.0635 is the intersection of the middle Bollinger band and the 30-day moving average support, which has relatively strong support for the short-term market. Taken together, today's EUR/USD short-term operation thinking can go long at 1.0635. FX:EURUSD OANDA:EURUSD FOREXCOM:EURUSD PEPPERSTONE:EURUSD CAPITALCOM:EURUSD
Long
by Blessed_V
EURUSD: Hit first tp level, consider buying again on retracement Hello everyone, on March 2nd, when EURUSD was around 1.058, I provided a long strategy and a take-profit level. The first take-profit level has been reached now, and partial profits can be taken here, while the rest can be left to wait for the second take-profit level. Alternatively, all profits can be taken and wait for a retracement near the support level around 1.062 to go long again, with a target around 1.068. Thank you for your attention and support. I will continue to update my trading strategy. If you have any questions, please leave a message in the comment section, and I will help you develop the most reliable solution with a serious and responsible attitude. I wish you a pleasant day!
by triumphing
4
EURUSD: Why I Expect 10% INCREASEHi Traders, Investors and Speculators of the Charts 📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. If you're interested in the EURUSD Forex market, this update is for you. There's an interesting pattern playing out for possibly the third time on the 3D chart. When using the Moving Averages together with trend line analysis and support zone / resistance zone analysis, it seems most reasonable to expect and increase from this point above the 200 day Moving Average, which is the purple line. HOWEVER- if the price fails to capture the 200d MA again and falls under the orange (100d MA), this pattern would not hold true. Interested in Ethereum ? Check out this idea: _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
16
EUR/USD Testing Downtrend ChannelThe EURUSD is currently moving within a local downtrend channel and has almost reached the lower edge of the channel and the support level of 1.05900. After a potential reversal price action, it is expected that the price will rise again to test the upper edge of the downtrend channel before continuing its downward movement. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Long
by Candlestick_OB