Alexia, hello everyone!
The EUR/USD exchange rate is hovering around 1.0710 during the Asian trading session on Thursday. This currency pair lacks direction and momentum, resulting in an unclear trend. However, the Euro remains in positive territory following conflicting economic data from the Eurozone and Germany.
From the 4-hour chart, we can see that a 5-wave Elliott correction has occurred during yesterday's trading session. Therefore, ALEXIA is anticipating a significant price decline as the EUR cools off from lackluster trading around the 1.0710 .
The EUR/USD exchange rate is hovering around 1.0710 during the Asian trading session on Thursday. This currency pair lacks direction and momentum, resulting in an unclear trend. However, the Euro remains in positive territory following conflicting economic data from the Eurozone and Germany.
From the 4-hour chart, we can see that a 5-wave Elliott correction has occurred during yesterday's trading session. Therefore, ALEXIA is anticipating a significant price decline as the EUR cools off from lackluster trading around the 1.0710 .
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Comment:
The ability to raise interest rates in December has lost some motivation, especially after the recent FOMC meeting and the publication of non -agricultural payroll data in October is weaker than expected.
Comment:
Powell's comments promoted the interest rate of US Treasury bonds more than 10 basic points along the entire curve, while the US dollar (USD) increased as the US dollar index increased by more than 0.30%, to to the US 105.91.
Comment:
Next week will witness the data of the gross domestic product (GDP) of the EU on Tuesday, followed by the data of inflation of consumer price index (CPI) of the United States.
