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The Euro faced upward pressure as expectations for two rate cuts by the Fed grew, while senior ECB officials made comments ruling out consecutive rate cuts in June and July. However, the anticipation that rate cuts will happen sooner than the Fed's timeline remains strong, which is expected to soon push the Euro downward.
- May 21-22: Speech by Christine Lagarde, President of the European Central Bank.
- May 22: UK Consumer Price Index for April will be released.
- May 23: Federal Open Market Committee minutes will be published.
- May 24: Germany’s Q1 GDP will be announced.
The EUR/USD is pushing up strongly after breaking through the short-term downtrend's peak. However, resistance remains at the upper boundary of the medium-to-long-term downtrend, and it is expected to come down after facing resistance in this zone. We are currently in the process of confirming the peak, and we will maintain our short-term bullish view while also keeping our medium-to-long-term bearish outlook.
To summarize the expected movements, a short-term rise to the 1.09500 level is anticipated, followed by a medium-term decline to the 1.05000 level.
If movements differ from expectations, we will swiftly revise our strategy.
Please share your personal opinions in the comments. Don’t forget to hit the like button and subscribe.
The Euro faced upward pressure as expectations for two rate cuts by the Fed grew, while senior ECB officials made comments ruling out consecutive rate cuts in June and July. However, the anticipation that rate cuts will happen sooner than the Fed's timeline remains strong, which is expected to soon push the Euro downward.
- May 21-22: Speech by Christine Lagarde, President of the European Central Bank.
- May 22: UK Consumer Price Index for April will be released.
- May 23: Federal Open Market Committee minutes will be published.
- May 24: Germany’s Q1 GDP will be announced.
The EUR/USD is pushing up strongly after breaking through the short-term downtrend's peak. However, resistance remains at the upper boundary of the medium-to-long-term downtrend, and it is expected to come down after facing resistance in this zone. We are currently in the process of confirming the peak, and we will maintain our short-term bullish view while also keeping our medium-to-long-term bearish outlook.
To summarize the expected movements, a short-term rise to the 1.09500 level is anticipated, followed by a medium-term decline to the 1.05000 level.
If movements differ from expectations, we will swiftly revise our strategy.