The euro has started the week in negative territory. In the North American session, EUR/USD is trading at 1.1083, down 0.38%. The euro has lost ground for three straight days and has fallen as much as 170 pips since hitting a 2023-high on July 18th. The eurozone recovery is likely to be lengthy, and Monday's PMIs pointed to a deceleration in the manufacturing and...
Interest rates from the FED and ECB are coming up this week. This will determine the next move in EURUSD. After reaching 1.1274, a correction was initiated, which we expect to continue until the news. The next important support is at 1.1004. We will be watching for a pullback from these levels and buying opportunities.
Technical Analysis and Outlook: This week, the Eurodollar will likely retest Mean Sup 1.100. However, it could jumpstart and retest the completed Inner Currency Rally 1.124. It's important to treat this move as the dead cat bounce.
Yesterday EURUSD reached the support zone but didn’t give a chance for buys. USD interest rates is coming next Wednesday. We often see sideways movements before important news. We’re not looking for new trades at the moment and we’re waiting for the correction to continue.
So, my last bid on EURUSD was a bust, i was hoping for a increase in interests from the FED, but this seems less and less likely now a days. SO my new move for the next coming wee/weeks is a minor pullback for EURUSD and then a catalyst move the 27th where ECB will increase interests and the FED will keep interests still. Good luck!
Technical Analysis and Outlook: This week, the Eurodollar did its Jumpgate performance once again. It completed our Outer Currency Rally 1.124 and is developing possible pivotal retracement to Mean Sup 1.100. However, the price may jumpstart to Inner Currency Rally 1.133.
EURJPY H8 We keep following both EJ and GJ together because of the correlation, EJ seems to be leading the way for the moment, which is attractive thus far, as we hope it paves the path for GJ to follow suit. The zone similar to our 180.00 handle on GJ has broken here on EJ. Which is promising for the expectation of more downside.
Technical Analysis and Outlook: This week, the Eurodollar did its Jumpgate performance. It established the newly created Mean Sup 1.085, indicating its potential to retest the completed Outer Currency Rally with determination. However, the price may decrease to Mean Sup 1.099 (the opposite of Mean Res) before returning to the crime scene.
EUR/USD is showing limited movement on Wednesday. In the European session, the euro is almost unchanged at 1.0882. The eurozone services sector continues to show growth, but the June numbers showed a deceleration. Eurozone PMI slowed to 52.0, shy of the consensus of 52.4 and down from 55.1 in May. This marked a five-month low. Germany's services sector stalled,...
Technical Analysis and Outlook: The euro-dollar is moving towards the important Mean Sup 1.080 target after the completion of the Inner Currency Rally 1.096. However, there is a chance for a rebound with the newly established target of Mean Res 1.099 and continue beyond.
EUR/USD is trading at 1.0872 in the European session, up 0.07%. The euro is under pressure and is down close to 100 pips since Tuesday. Inflation in the eurozone continues to fall. Eurozone CPI is expected to fall to 5.5% in June, down from 6.1% in May and a notch below the consensus of 5.6%. Headline inflation has fallen to its lowest level since January...
Assuming we are early into the long trip downward would put us somewhere in the early stages of Cycle wave C down, Primary wave 1 down, Intermediate wave 2 up. This would have made Intermediate wave 1 down 5 trading days long with a 120.39 point drop. Based on waves ending in C12, Intermediate wave 2 will last 1 day. There are zero other possible lengths. The...
EURUSD continues to be a non-traded instrument this week. It broke above 1.0950 yesterday but did not provide an entry opportunity. While it is below the previous high of 1.1000 we are looking at a downside option. Important news is coming today and tomorrow that will influence and confirm the next move here. During this time we continue to trade the JPY crosses!
EUR/USD has taken a tumble on Friday. In the European session, the euro is trading at 1.0885, down 0.64%. The euro fell as low as 1.0844 earlier in the day. Later today, the US releases ISM Services PMI. The consensus stands at 54.0 for June, following 54.9 in May. The services sector is in solid shape and the ISM Services PMI has posted four straight readings...
Investors Await Central Bank Actions Amid Global Economic Concerns and Uncertainties Prevail Today events: USA - Building Permits (May) USA - FOMC Member Bullard Speaks USA - Housing Starts (MoM) (May) USA - FOMC Member Williams Speaks Eurozone - ECB McCaul Speaks Eurozone - ECB's De Guindos Speaks On the evening of Monday, following a public holiday, there...
EUR/USD broke above the 1.0800 handle yesterday thanks to a weak US inflation report, yet price action now finds itself back beneath that key level leading into today's FOMC meeting (and tomorrow's ECB meeting). But as the pair has risen over the past two weeks, it may take a particularly dovish meeting from the Fed to drive it materially higher. Therefore,...
Technical Analysis and Outlook: The euro-dollar price movement followed our projections as stated on Daily Chart Analysis For the Week of June 9 - the price action hit our initial upside target of Mean Res 1.082 and beyond by completing our Inner Currency Rally 1.096. The unconfirmed pivotal down move is in progress, with the mark aimed to mean Sup 1.080. Trade...
EUR/USD is trading at 1.0948 in Europe, almost unchanged on the day. On Thursday, the euro surged 1.05% in the aftermath of the ECB rate hike. The ECB raised rates by 25 basis points on Thursday, bringing the benchmark rate to 3.50%, the highest level since 2001. The markets were not surprised by the move but ECB President Lagarde's hawkish comments following the...