Fundamental analysis
The US economy should weaken, as the sharp rise in interest rates will still have its effect. If there are signs of a slowdown in the US economy, the reaction on the markets should be strong and a rapid upward movement of EUR/USD should be the result. For 2024, we expect a relatively better development of the economy in the Eurozone, where the economy should recover from a weak level. The US economy, on the other hand, should remain relatively weak, so we expect the dollar to weaken further.
Technical analysis
1.20 Ema is Cross the 50EMA
2.Macd line is below the Signal line
3.Trend is Making lower low and lower High
4.DXY is in continues in downtrend
Trade closed: target reached