Fundamental analysis
Broad market hopes for a faster pace of interest rate cuts from the US Federal Reserve (Fed) peaked on Friday despite producer price index (PPI) wholesale inflation. of the United States increased significantly. The Fiber index extended its third straight weekly gain as investors' risk appetite was kept at a ceiling.
US Retail Sales figures will be released next Tuesday and Euro traders will have to wait for the European Central Bank's (ECB) latest interest rate call next week, which is expected takes place early next Thursday. The ECB recently delivered a quarter-point rate cut in early June, but further cuts appear unlikely and markets are generally forecast to cautiously leave rates unchanged in July.
Technical analysis
EUR/USD notched a third straight weekly gain, closing Friday slightly above 1.0900. The pair is up 2.3% from its late-June lows and the day's price action is preparing for a clash with the next technical resistance around 1,097. Beyond this peak, EURUSD will continue to move towards the previous year's high at 1,112. In the pullback the direct support level is at the point where investors fought a lot before choosing the winning BUY side at the 1.082 price zone, which is the same zone supported by the two EMAs. In a trend reversal next week's low could reach around 1,068.
Support: 1,082-1,068
Resistance: 1,097-1,112
SELL EURUSD zone 1.082-1.084 Stoploss 1.085
SELL EURUSD zone 1.112-1.114 Stoploss 1.115
BUY EURUSD zone 1.082-1.080 Stoploss 1.079
BUY EURUSD zone 1.068-1.066 Stoploss 1.065
Broad market hopes for a faster pace of interest rate cuts from the US Federal Reserve (Fed) peaked on Friday despite producer price index (PPI) wholesale inflation. of the United States increased significantly. The Fiber index extended its third straight weekly gain as investors' risk appetite was kept at a ceiling.
US Retail Sales figures will be released next Tuesday and Euro traders will have to wait for the European Central Bank's (ECB) latest interest rate call next week, which is expected takes place early next Thursday. The ECB recently delivered a quarter-point rate cut in early June, but further cuts appear unlikely and markets are generally forecast to cautiously leave rates unchanged in July.
Technical analysis
EUR/USD notched a third straight weekly gain, closing Friday slightly above 1.0900. The pair is up 2.3% from its late-June lows and the day's price action is preparing for a clash with the next technical resistance around 1,097. Beyond this peak, EURUSD will continue to move towards the previous year's high at 1,112. In the pullback the direct support level is at the point where investors fought a lot before choosing the winning BUY side at the 1.082 price zone, which is the same zone supported by the two EMAs. In a trend reversal next week's low could reach around 1,068.
Support: 1,082-1,068
Resistance: 1,097-1,112
SELL EURUSD zone 1.082-1.084 Stoploss 1.085
SELL EURUSD zone 1.112-1.114 Stoploss 1.115
BUY EURUSD zone 1.082-1.080 Stoploss 1.079
BUY EURUSD zone 1.068-1.066 Stoploss 1.065
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EUR/USD stays weak below 1.0900 as US political violence lifts USDEUR/USD is on the defensive below 1.0900 in the European session on Monday. The pair edges lower amid risk aversion on the Trump rally shooting, which has put a bid under the US Dollar. The focus remains on US politics and Fedspeak looking ahead.
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SELL EURUSD scalping + 30 pipsNot
EUR/USD pauses with ECB rate call around the cornerEUR/USD rotated around 1.0900 on Tuesday as markets grappled with September rate cut hopes getting pinned even further into the high end after US Retail Sales figures eased in June. Markets have fully priced in the start of a Fed rate-cutting cycle in September.
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EUR/USD crosses over 1.0900 on Wednesday as Euro bulls gear up for ECB rate callEUR/USD rallied into fresh 18-week highs on Wednesday as market sentiment tilts firmly into the risk-on side ahead of the European Central Bank’s latest rate call slated for Thursday. Broad-market risk appetite remains pinned into the ceiling as markets fully price in a rate cut from the Federal Reserve on September 18.
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EUR/USD holds losses near 1.0900 amid sustained US Dollar recoveryEUR/USD remains in the red near 1.0900 in European trading on Friday. The sustained US Dollar rebound amid risk-aversion and firmer US Treasury bond yields weighs on the pair. ECB policy decision fails to lift the Euro. Fedpseak remains on tap later in the day.
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