Hi Traders! All eyes are now on the Euro, and traders are eagerly anticipating the European Central Bank's (ECB) interest rate decision and their press conference later today. Looking at the price action on the EURUSD 1D chart, the Euro has found support near the previous cup resistance at the 1.10120 level. Depending on the outcome we get later from the ECB,...
Yesterday, the FED raised rates again by 0.25%. The ECB is due to announce today whether it will do the same by 0.25% Today's news is at 15:15 Bulgarian time, and the press conference 30 minutes later. EURUSD looks like it has already bottomed out and is starting the next uptrend. We are watching for a higher bottom and confirmation of the upward movement.
The euro is showing limited movement for a second consecutive day. In Wednesday's European session, EUR/USD is trading at 1.1063, up 0.07%. The Federal Reserve meets later today, and it's close to a certainty that the Fed will raise rates by 0.25%, which would bring the Fed Funds rate to a range of 5.25% to 5.50%. The FOMC will not be releasing any economic...
Interest rates will be announced by the FED today. The news is at 21:00 Bulgarian time, and the press conference 30 minutes later. The only thing certain before the news is that there will be big fluctuations. Therefore, it is advisable to reduce the risk on active positions and not to hurry with new entries. The main option where we will look for trades is on...
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...