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EUR/USD Break-and-Retest: Next Stop 0.97?Weekly Timeframe: Clear downtrend with a rejection at the 50 MA and a break below key support. Next target lies around 0.97-0.98, a major demand zone. Daily Timeframe: Confirms the bearish bias with a retest of the broken support, now acting as resistance. Price remains below the 50 MA, signaling continued downside. Correlation: Both timeframes align in a bearish trend. Weekly sets the direction, while daily refines entry opportunities with break-and-retest setups.
Short
by unichartz
21
Downward Pressure Persists as Yen Strengthens on Rate Hike HopeHey Realistic Traders, Will OANDA:CADJPY continue its bearish trend? Let’s Dive In.... In the H4 timeframe, CADJPY has broken out of a distribution phase as it continues to move below the bearish trendline and the EMA-200 line. The pair also formed a Rising Wedge pattern, followed by an impulsive breakout, which strongly indicates the continuation of the prevailing bearish trend. Further confirming this outlook, the MACD momentum indicator has signaled a bearish crossover, strengthening our bearish hypothesis. Given these technical factors, we anticipate a potential downward movement toward the nearest historical support area (Target 1) at 105.955. After reaching this level, we foresee a minor correction back to the green zone before the pair resumes its bearish journey to the second target at 104.902. However, this bearish outlook remains valid only if the price holds resistance below the critical stop-loss level at 108.976. Fundamental Reason Supporting Yen Strength: The Bank of Japan (BOJ) is signaling further rate hikes as economic data, including wage growth and inflation, align with its projections. BOJ Governor Kazuo Ueda recently suggested that another rate hike is "nearing," citing steady progress in economic conditions. This hawkish stance further supports the bearish outlook on CADJPY, as a stronger yen typically exerts downward pressure on the pair. Support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below. Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on CADJPY".
Short
by financialfreedomgoals101
GBPUSD Setup: Bullish Wave Structure & Fibonacci Buy ZoneThe GBPUSD has stabilised after a significant downward move. A completed bullish wave structure has emerged, with Wave 4 failing to break above Wave 3. This indicates a potential buying opportunity from the Fibonacci buy zone. On the 15-minute chart, we can consider going long using the MSL pattern (Lower Low, Low of Day, Higher Low & Higher Close) as a confirmation signal. Entry Point: 1.26303 Stop Loss: 1.2610 Target: 1.2710 Stay disciplined and manage your risk accordingly.
Long
by Charts247TradingAcademy
London Session Focus: USDJPY Momentum & Potential AUDUSD BuyThis morning during the London session, my primary focus is on the USDJPY. We anticipate a momentum low developing below the current price level. Additionally, the AUDUSD has flagged a potential buying opportunity around the 0.6450 level. The EURUSD and GBPUSD (Cable) are also showing potential for bullish moves; however, their price structures are currently less defined than those of the above-mentioned pairs. Trade wisely and happy trading!
by Charts247TradingAcademy
Forex Trade Planning: USD Dominance and Potential CorrectionToday's trade planning session highlighted the USD as the strongest currency on the daily Currency Strength Index (CSI), while the EUR emerged as the weakest. General CSI Overview: Buy pairs: USD, CHF, GBP, JPY, AUD Sell pairs: CAD, NZD, EUR In our H1 timeframe market analysis, we anticipate a deeper correction in existing trends. The wave structure for major pairs versus the USD has reached momentum high and momentum low 5. From this level, a correction of the trend is expected. It is important to note that significant effort and time are required for a trend reversal. Nevertheless, there has been a notable decline, breaking key structures in USDJPY, which could indicate a more substantial downturn for the USD and potentially lead to a larger secondary trend. Trade carefully and happy trading!
by Charts247TradingAcademy
Gold: Will the Falling Wedge Breakout Ignite a +16% Rally?Hey Realistic Traders, let’s dive into the analysis of NASDAQ:GOOGL In the daily timeframe, Google has broken above the upper trendline of the falling wedge pattern. The price has consistently remained above this trendline for the past three trading days, with rising price movement accompanied by bullish divergence. Bullish divergence on the MACD indicates that while the price makes lower lows, the MACD line forms higher lows. This divergence suggests a weakening of bearish momentum and the potential for a price reversal to the upside. Given these technical factors, we forecast a potential upside movement toward the designated target of 181.36 . After reaching this level, a pullback to the green zone around $160 may occur before the price advances to the second target at 191.52. This technical outlook remains valid as long as the price stays above the support area at 148.77. Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Google. Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below.
NASDAQ:GOOGLLong
by financialfreedomgoals101
USDJPY Daily Forecast: Slight Bearish Bias Amid Fundamental FactUSDJPY Daily Forecast: Slight Bearish Bias Amid Fundamental Factors (31/10/2024) Introduction In today's trading session on October 31, 2024, USDJPY appears to carry a slightly bearish bias due to various fundamental drivers impacting both the US Dollar (USD) and the Japanese Yen (JPY). This article provides a detailed analysis of USDJPY, focusing on the major economic and geopolitical factors contributing to the bearish outlook. By considering both macroeconomic trends and the latest technical indicators, traders can better navigate potential setups for the USDJPY pair. Key Fundamental Drivers Impacting USDJPY Today 1. Federal Reserve’s Dovish Policy Outlook - The Federal Reserve has recently hinted at maintaining a dovish stance, signaling a potential pause on interest rate hikes. This policy outlook is generally bearish for the USD, as lower interest rates reduce the Dollar’s appeal to investors seeking yield. As a result, the USD could experience downward pressure against the Japanese Yen, contributing to a slight bearish bias for USDJPY. 2. Bank of Japan's Commitment to Policy Adjustments - The Bank of Japan (BOJ) has gradually shown signs of flexibility in its yield curve control policy, which could strengthen the Yen. Any indication of a potential shift away from ultra-loose monetary policy is generally supportive for JPY, as it attracts investors looking for stability in an uncertain global environment. This shift increases the possibility of a bearish trend in USDJPY. 3. US Treasury Yields and Safe-Haven Demand - The recent volatility in US Treasury yields has led to fluctuating demand for USD-denominated assets. Lower yields often make the Dollar less attractive, especially in comparison to the Yen, which is considered a traditional safe haven. With a potential decline in yields, demand for USD could weaken, encouraging investors to turn toward JPY and reinforcing the slight bearish outlook for USDJPY. 4. Global Economic Uncertainty and Risk Sentiment - The recent geopolitical tensions and economic uncertainties have led to higher risk aversion in the markets. In times of heightened uncertainty, the Yen benefits as a safe-haven currency. This risk-off sentiment may draw investors to JPY, increasing its strength against USD and creating bearish pressure on the USDJPY pair. 5. Japanese Economic Data - Stronger-than-expected Japanese economic data, including stable GDP growth and improved manufacturing output, have added positive momentum to the Yen. These indicators reflect Japan’s gradual recovery, making the Yen more attractive and adding pressure on USDJPY from the Japanese side. Technical Analysis of USDJPY (31/10/2024) From a technical perspective, USDJPY trades below its 50-day moving average, a signal commonly associated with bearish trends. The Relative Strength Index (RSI) also hovers near the 40 level, suggesting potential downside momentum. Key support levels around 147.50 and resistance near 150.00 should be monitored. Key Support: 147.50 Key Resistance: 150.00 Conclusion: USDJPY Outlook for 31/10/2024 Given today’s fundamentals and technical conditions, USDJPY exhibits a slightly bearish bias. Factors such as the Federal Reserve’s dovish stance, the BOJ’s gradual policy adjustments, and risk aversion in global markets are all contributing to the current outlook. However, traders should remain attentive to any unexpected shifts in global economic data or central bank announcements. For those watching the USDJPY today, focusing on these fundamental drivers and key support levels can provide valuable insights for trading the pair amid a slightly bearish sentiment. SEO-Keywords: #USDJPYForecast #ForexAnalysis #USDToday #JapaneseYen #CurrencyMarket #USDJPYOutlook #BearishUSDJPY #TradingUSDJPY #ForexFundamentals
Short
by PERFECT_MFG
AudJpy- Good shorting opportunity of 500 pipsAfter an upward reversal in early August and a higher low in mid-September, AUD/JPY continued climbing to reach a local high around 102. However, the pair has since stalled in this area, entering what appears to be a distribution phase. Currently, it seems to be testing a critical support level around 100. A successful break below this level could signal an accelerated downward move. A medium-term target for this decline is around 95, with an interim support level at 98—an attractive target for traders who are not so patient.
Short
by Mihai_Iacob
THE KOG REPORTTHE KOG REPORT: In last week’s KOG Report we said we wouldn’t be looking to long for the early part of the week, instead gave the path moving up into the 2727 and 2742 price targets where we wanted to attempt the short. This worked well during the early part of the week, but we didn’t get to complete the move, instead our red boxes kicked in and we continued to look upside into the 2739 and 2745 price point. We then updated traders with the hotspots at the 2750-55 region and suggested looking for a reaction in price there mid-week which was tapped into and rejected giving the lovely move down that we experienced completing the first red box target 2710 before the bounce upside. It wasn’t an easy week, very choppy and frustrating with burst of volume but we didn’t do to badly completing 6 gold Excalibur targets on top of the bias level targets and the red box targets. Small stops and big captures should have given our followers a decent week on Gold moving level to level with the red boxes we share as well as KOG’s bias of the day. Excalibur performed again with 21 targets completed across the other pairs we trade. So, what can we expect in the week ahead? For this week we’re seeing a little more bullish movement on Gold but there’s a level above which needs to be watched and needs to be broken for us to go higher and target that 2800 level! So we’ll look for price to attempt the 2750-55 region during the early session and if rejected there is potential for the pullback to present itself into the 2735-32 red box defence. It’s this 2732-35 region we feel an opportunity to the long is available back up to attempt 2763 and above that 2765. Please note, 2765 is the level we need to break and hold above for us to attempt to target higher pricing for now. Those looking to attempt the short trades should be looking at the levels of 2760-5 and if broken 2780-5 for opportunities to capture the pullbacks and maybe even a short swing. Now, we have a slight issue here with the extension of the move this week and with a lot of news to come together with it being the end of the month, we’re concerned about profit taking and a potential sell off, so for that reason, we’ll play level to level on the upside picking the right levels and using the red boxes for our entries and exits which have proven to give the 50-70pip captures quite easily. KOG’s BIAS FOR THE WEEK: Bullish above 2730 with targets above 2755, 2762 and 2779 Bearish on break of 2730 with target below 2709 RED BOXES: Break above 2755 for 2762, 2768, 2780 Break below 2742 for 2732, 2720, 2709 Good luck for the week. Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
10
NZDUSD Analysis for 16/10/2024: Slight Bullish Bias ExpectedIntroduction As of 16th October 2024, the NZDUSD (New Zealand Dollar vs. US Dollar) pair shows a slight bullish bias in today’s trading session. A combination of fundamental factors, economic data releases, and market sentiment are all playing a pivotal role in driving this price action. In this article, we will break down the key drivers for the potential bullish trend in NZDUSD today, with a focus on the latest developments in the global economy, central bank policies, and market conditions. Key Drivers for NZDUSD Bullish Bias 1. New Zealand Economic Data Strength One of the primary factors contributing to the slight bullish bias in NZDUSD is the recent release of positive economic data from New Zealand. Key indicators such as GDP growth and retail sales have come in stronger than expected, supporting the NZD. The New Zealand economy continues to exhibit resilience despite global challenges, and this has attracted investors towards the Kiwi dollar. In the latest report, New Zealand’s consumer sentiment index showed improvement, reflecting increased consumer confidence. This suggests that domestic demand is picking up, which is supportive of the New Zealand Dollar’s strength. As a result, this economic optimism is likely to boost NZDUSD. 2. RBNZ Hawkish Stance The Reserve Bank of New Zealand (RBNZ) has maintained a relatively hawkish stance, signaling a possible interest rate hike in the near future to combat inflation. Although inflation remains elevated globally, New Zealand’s inflation figures are closely monitored by the RBNZ, and the central bank is prepared to act if needed. A potential rate hike would increase the attractiveness of the NZD in the forex market. The US Federal Reserve, by contrast, is leaning towards a more neutral stance, with expectations that interest rates may have peaked for the time being. This divergence in monetary policy between the RBNZ and the Federal Reserve is providing support to NZDUSD, as a more hawkish RBNZ outlook favors the New Zealand Dollar. 3. US Dollar Weakness On the other side of the equation, the US Dollar has experienced some softness amid mixed economic data and shifting market sentiment. The recent US CPI (Consumer Price Index) report showed inflation cooling, reducing the likelihood of aggressive Federal Reserve tightening. As inflation shows signs of easing, investors are beginning to price in the possibility of a Fed pause, which has led to USD weakness. Additionally, political uncertainty in the US, particularly related to fiscal policy and government shutdown risks, is weighing on the USD. The combination of a potentially dovish Federal Reserve and domestic uncertainty is making the US Dollar less attractive, boosting the NZDUSD pair. 4. Global Risk Sentiment Risk sentiment in global financial markets is another critical driver of NZDUSD. As a commodity-linked currency, the New Zealand Dollar often performs well when risk appetite improves. Today, we see a more optimistic tone in equity markets as investors respond positively to the easing inflation pressures in the US and signs of stabilization in global growth. This “risk-on” environment typically benefits the NZD, and we are seeing this reflected in the slight bullish bias for NZDUSD. Moreover, China's economic stabilization efforts, especially in the property sector, have provided additional support for commodity-exporting countries like New Zealand, bolstering the NZD. 5. Technical Outlook From a technical perspective, NZDUSD has been testing key support levels in recent trading sessions, and a bounce from these levels is likely to fuel further upside. The 50-day moving average (MA) has recently crossed above the 200-day MA, forming a bullish “golden cross,” which is a positive signal for further upside movement in the short term. In addition, RSI (Relative Strength Index) readings are indicating that the pair is not yet in overbought territory, suggesting more room for the bullish momentum to continue. Conclusion In summary, the NZDUSD pair is expected to maintain a slight bullish bias on 16th October 2024, driven by several key fundamental factors. Strong New Zealand economic data, a hawkish RBNZ stance, US Dollar weakness, positive global risk sentiment, and favorable technical signals all contribute to the optimistic outlook for NZDUSD today. However, traders should remain cautious of any unexpected developments that could shift the market sentiment. Keywords: NZDUSD, New Zealand Dollar, US Dollar, Forex Analysis, 16th October 2024, bullish bias, RBNZ, Federal Reserve, US inflation, interest rates, forex market, technical analysis, risk sentiment, currency trading, New Zealand economy, NZD strength, TradingView analysis, forex forecast, USD weakness.
Long
by PERFECT_MFG
EURUSD Analysis==>>Short term==>>(Fundamental + Technical)Today's Fundamental analysis of the FX:EURUSD highlights several key factors: 1-Expected ECB Rate Cuts : With Eurozone inflation dropping below 2% in September, there is growing speculation about further rate cuts by the European Central Bank (ECB) in both October and December. These rate cuts would likely weaken the euro, as lower borrowing costs reduce demand for the currency​. 2-US Economic Performance : The recent U.S. labor market report exceeded expectations, showing solid job growth and a lower unemployment rate. This has strengthened the dollar, with investors now awaiting the upcoming U.S. CPI report(10 October), which may offer insights into future Fed policy -------------------------------------------------- Now, let's go to the technical analysis of EURUSD . EURUSD is moving in the Heavy Support zone($1.0982-$1.0916) and Potential Reversal Zone(PRZ) , near the Support lines and 100_SMA(Daily) . Also, Regular Divergence (RD+) between Consecutive Valleys . I expect EURUSD to rise at least to near the Resistance zone($1.005-$1.0995) after breaking the Downtrend line . Note: If EURUSD manages to break the Heavy Support zone($1.0982-$1.0916) and support lines, we can expect EURUSD to touch at least $1.0878. Euro/U.S.Dollar Analyze ( EURUSD), 1-hour Time frame ⏰. 🔔Be sure to follow the updated ideas.🔔 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.
Long
by pejman_zwin
1
EURUSD Analysis==>>AB=CD Pattern!!!==>>Short termEURUSD is moving near the Heavy Resistance zone($1.130-$1.118) and Resistance lines . There is a possibility of Bearish AB=CD Harmonic Pattern formation near Resistance lines and Time Reversal Zone(TRZ) . I expect EURUSD to decline to the Support zone($1.082-$1.066) after breaking the Support line . Note: If EURUSD manages to break the Resistance lines, we can expect EURUSD to attack the Heavy Resistance zone($1.130-$1.118) and increase. 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
1
EURUSD / TRADING ABOVE DEMAND ZONE - 4HEURUSD / 4H TIME FRAME HELLO TRADERS The price is currently trading above a demand zone (an area where buying interest is expected to increase) between 1.102 and 1.100. It suggests that as long as the price remains above this zone, there may be a retest (a drop to the 1.100 level) before the price starts to rise again. The next likely target is an FVG (Fair Value Gap, which refers to a price inefficiency) between 1.108 and 1.109. Beyond that, there’s another FVG around 1.111 and 1.113. On the other hand, if the price breaks below the demand zone (1.100) and closes a 4-hour candle beneath it, this indicates further downside movement. The next downside target would be the FVG between 1.097 and 1.094. Supply Zone : 1.120 and 1.121. Demand Zone : 1.102 and 1.100. FVG : 1.108 and 1.109 , 1.111 and 1.113.
Long
by ArinaKarayi
USDJPY still has more downside on daily & weekly tfStructurally I'm looking for rejection at 147-149.8 range. Look for renewed selling action below 144 to confirm. Still seeing additional unwinding of the yen carry trade as highly likely over subsequent days & weeks. Targeting 136, 131, and 126 handles on weekly structure as we approach Q1 of 2025. Particularly as the US Federal Reserve is pressured to cut rates further with recent data. Entering short positions gradually but the majority is already in place.
by DaveTradesLive
XAUUSD / UNDER TENSTION IN THE MIDDLE EAST - 4HXAUUSD / 4H TIME FRAME HELLO TRADERS The conflict between Iran and Israel has caused a rise in gold prices by 1.80%. Gold, often seen as a safe haven asset, tends to rise in response to global instability. Prices are currently attempting to reach $2,637 and $2,614. The all-time high (ATH) price is mentioned as $2,686, with a supply zone extending to $2,720. The text suggests that if prices break above this ATH, they might enter a new supply zone between $2,700 and $2,720. If gold fails to stay above the supply zone between $2,686 and $2,675 , a decline is expected, possibly reaching the demand zone of $2,637 and $2,614. If prices stabilize below these levels, further declines are predicted. Despite short-term fluctuations and potential declines the overall sentiment is bullish, indicating that gold prices are under upward pressure in the long term. Supply Zone : 2,675$ and 2,686$. Demand Zone : 2,637$ and 2,624$. Accumulation Zone : 2,527$ and 2,474$.
OANDA:XAUUSDLong
by ArinaKarayi
XAUUSD / SENSETIVE AREA TRADING - 4HXAUUSD / 4HTIME FRAME HELLO TRADERS Yesterday: Gold prices declined by 1.70%. Today: Prices began to recover, rising by 0.95%.Analysts expect a further increase in prices, potentially reaching gains of 1.50% Gold is currently trading below a supply zone between $2,655 and $2,665. This zone represents a key resistance level, where sellers may dominate and prevent further price If gold continues to trade below the $2,655–$2,665 supply zone, it could decline further, with support levels at $2,637 and $2,614. If the price breaks above the supply zone, it may rise towards $2,686, a potential resistance level. Despite the recent dip, the market is under bullish pressure, indicating that buyers are still in control and could push prices higher in the near future. Supply Zone : 2,655 and 2,665$. Demand Zone : 2,637$ and 2,614$.
OANDA:XAUUSD
by ArinaKarayi
1
EURUSD Daily Outlook: Slight Bearish Bias Expected on 30/09/2024EURUSD Daily Outlook: Slight Bearish Bias Expected on 30/09/2024 As of today, 30/09/2024, the EURUSD pair appears to be trending towards a slightly bearish bias, driven by a mix of fundamental and technical factors. Traders should be aware of the potential downside risks, particularly given the current market environment. Let’s dive into the key drivers behind this forecast. 1. Eurozone Economic Weakness One of the primary reasons for the expected bearish bias on EURUSD is the ongoing economic challenges within the Eurozone. Recent economic data, including declining manufacturing output and weaker-than-expected consumer confidence figures, has contributed to a gloomy outlook for the Euro. The European Central Bank (ECB) has remained cautious, avoiding any strong hawkish stance, which continues to weigh on the Euro's performance. The lack of aggressive monetary tightening by the ECB, compared to the Federal Reserve, places further pressure on the currency. 2. Federal Reserve Hawkish Stance On the other side of the equation, the US Dollar (USD) remains supported by the Federal Reserve's hawkish monetary policy. Jerome Powell’s recent statements highlight the possibility of further interest rate hikes in the near term to combat inflation. This is a strong bullish factor for the USD, making the EURUSD pair more vulnerable to downward pressure. The market anticipates that the Fed will continue to outpace the ECB in terms of tightening monetary conditions, widening the interest rate differential. 3. US Economic Strength Recent US economic data has reinforced the Dollar’s strength. Strong retail sales, robust employment figures, and better-than-expected GDP growth have all contributed to a more resilient USD. In contrast, the Eurozone struggles with stagnation, providing further evidence that the EURUSD pair is likely to face headwinds today. The divergent economic outlooks between the US and the Eurozone will likely push EURUSD lower. 4. Technicals Support Bearish Sentiment From a technical perspective, EURUSD is currently testing support levels around 1.0850. A break below this could signal further downside movement. The 50-day moving average has also started to slope downward, reinforcing the short-term bearish outlook. Momentum indicators such as the RSI (Relative Strength Index) are approaching oversold levels, but there’s still room for further declines before a potential rebound. 5. Geopolitical Uncertainty Geopolitical uncertainty in Europe, particularly around energy security and trade tensions, adds to the Euro’s vulnerability. Investors are seeking safe-haven assets, including the USD, amid these risks, which is another reason for the slight bearish bias on EURUSD today. Conclusion Based on the latest fundamental factors and current market conditions, EURUSD is expected to experience a slight bearish bias on 30/09/2024. The combination of Eurozone economic weakness, the Fed's hawkish stance, strong US economic data, technical indicators, and geopolitical risks all contribute to this outlook. Traders should watch key support levels and any developments in economic data to confirm or adjust their positions. Keywords for SEO Optimization: EURUSD analysis, EURUSD forecast, EURUSD bearish bias, Euro to USD forecast, Forex analysis, EURUSD technical analysis, 30/09/2024 EURUSD, Eurozone economy, Federal Reserve policy, USD strength, Forex trading, EURUSD support levels, Forex technical indicators, Euro dollar analysis September 2024, Forex trading signals, EURUSD market outlook.
Short
by PERFECT_MFG
EURUSD Forecast 26/09/2024: Bearish Bias as Dollar Strengthens.EURUSD Daily Forecast for 26/09/2024: Slight Bearish Bias Amid Key Fundamental Drivers Today, 26/09/2024, the EURUSD currency pair presents a slight bearish bias, driven by a combination of fundamental factors that are shaping the market sentiment. In this article, we will delve into the key drivers influencing EURUSD, while optimizing this content for SEO purposes to help traders stay updated on the latest analysis. Current Market Conditions Overview EURUSD has been navigating a range-bound market lately, hovering around critical technical levels. The market has been largely shaped by ongoing developments in both the U.S. and Eurozone economies, with traders carefully eyeing macroeconomic indicators and central bank actions. Key Drivers for EURUSD Today (26/09/2024) 1. U.S. Dollar Strength The U.S. dollar continues to dominate across global markets, with the recent hawkish tone from the Federal Reserve providing upward momentum for the USD. Chair Jerome Powell's comments about potential future rate hikes to combat inflation have strengthened the dollar, putting downward pressure on the EURUSD pair. The anticipation of higher yields in the U.S. is a key driver of this bearish bias in EURUSD. 2. Eurozone Economic Weakness The Eurozone is grappling with sluggish economic performance, particularly with recent PMI (Purchasing Managers' Index) data falling below expectations. The manufacturing sector is showing signs of contraction, further weakening the euro. Additionally, inflationary concerns in the Eurozone remain elevated, with ECB officials hesitant to introduce additional rate hikes. This economic stagnation adds weight to the bearish EURUSD outlook. 3. Divergence in Central Bank Policies The divergence between the Federal Reserve’s aggressive stance and the European Central Bank's (ECB) more cautious approach is widening, which continues to support the U.S. dollar over the euro. As traders expect the Fed to maintain its higher-for-longer interest rate policy, while the ECB adopts a wait-and-see approach, this policy imbalance favors a bearish EURUSD sentiment. 4. Geopolitical Risks Geopolitical uncertainty, particularly related to ongoing conflicts and energy security concerns in Europe, is adding further downside risk to the euro. Any escalation in these risks may heighten risk aversion, driving investors toward the safety of the U.S. dollar. 5. Technical Levels to Watch From a technical perspective, EURUSD is approaching key support levels around 1.0600. If this level is breached, it could accelerate the bearish momentum. Traders should also monitor resistance around 1.0800, as any break above this could signal a short-term bullish reversal. Conclusion In conclusion, EURUSD is facing a slight bearish bias today, 26/09/2024, driven by U.S. dollar strength, Eurozone economic weakness, central bank policy divergence, and lingering geopolitical risks. While EURUSD remains in a consolidative phase, the fundamental landscape favors further downside potential. Traders should keep an eye on key technical levels and be prepared for potential volatility. For traders looking to capitalize on this setup, maintaining a cautious outlook while factoring in these fundamental drivers is essential for informed decision-making. This analysis offers a detailed outlook on EURUSD for 26/09/2024, providing the latest insights into what could shape the market and how traders can prepare for possible market movements. Keywords for SEO Optimization: EURUSD analysis, EURUSD forecast, EURUSD bearish bias, EURUSD today 26/09/2024, fundamental factors EURUSD, technical levels EURUSD, EURUSD forex trading, Euro to USD, Forex analysis, EURUSD daily outlook, EURUSD price action, trading EURUSD 26 September 2024.
Short
by PERFECT_MFG