EUR/USD - how to trade & weekly forecast
Technical view:
-MACD baselines will cross bearish which implements further down movement in short term
-RSI line broke back in triangle and is searching for support
-100 day moving average crossed the 200 day moving average which is strong bearish indicator if the daily MA follows as well
Fundamental view:
Statements by important central bankers from the USA caused excitement and price movements on the currency market.Deputy Chairman Richard Clarida had spoken out in favour of an interest rate cut in the near future.It is worth acting quickly to lower interest rates at the first sign of economic distress, Clarida said.
At about the same time the influential head of New York's central bank, John Williams, had made a similar statement, burdening the dollar and giving the euro a boost in return. The Williams statements caused confusion in the financial markets. On the night of Friday, a spokeswoman for the New York regional central bank put the statements into perspective. They had fallen within the framework of an "academic speech" and should not be understood in the context of current monetary policy.
-MACD baselines will cross bearish which implements further down movement in short term
-RSI line broke back in triangle and is searching for support
-100 day moving average crossed the 200 day moving average which is strong bearish indicator if the daily MA follows as well
Fundamental view:
Statements by important central bankers from the USA caused excitement and price movements on the currency market.Deputy Chairman Richard Clarida had spoken out in favour of an interest rate cut in the near future.It is worth acting quickly to lower interest rates at the first sign of economic distress, Clarida said.
At about the same time the influential head of New York's central bank, John Williams, had made a similar statement, burdening the dollar and giving the euro a boost in return. The Williams statements caused confusion in the financial markets. On the night of Friday, a spokeswoman for the New York regional central bank put the statements into perspective. They had fallen within the framework of an "academic speech" and should not be understood in the context of current monetary policy.
Trade closed: target reached
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
