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Weekly EUR/USD analysis

Short
FX:EURUSD   Euro / U.S. Dollar
In this weekly post EUR / USD , we analyze the most popular currency pairs or Euros against US Dollars

Fundamental analysis

Late last week, there was good news for the US dollar , which helped boost the dollar, and we saw a sharp drop in currency pairs to the right of the US dollar .

For example, the PMI release was higher than expected. The US Federal Reserve and Treasury also announced that they are working to control inflation and unemployment and prepare the country for the post-coronavirus situation.

On the other hand, there was no good news in Europe. For example, the unemployment rate in Germany was higher than expected

Impact of Bitcoin

The US Treasury Department has also officially announced that it will not be like China and will not ban cryptocurrency transactions.
This has led to a sudden rise in the price of bitcoin and encouraged investors to trade more confidently in the country.

New week

In the new week, ADP Non-Farm Employment Change
and unemployment rates are the most important news.


Fundamental prediction

The Forex site predicts employment growth and declining unemployment in the United States, which is a positive signal for the dollar to rise and EUR / USD to fall.

The site also predicts that European PPIs could decline, which is a signal for the chart to decline.

Increase or decrease

However, with the closure of US banks on Monday as well as OPEC meetings, we expect the euro to experience short-term growth. This growth will be close to the previous floor, ie the range 1.66 to 1.69

Signal


If the price exceeds the said range, this week's analysis will be incorrect, otherwise the price will fall to 1.15 and even 1.42 is not unexpected

The first trades of the week will be SHORT at the end of the week if the BUY trend is bullish .
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