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Eurusd1hr

Will the euro continue to fall? Euro: On Tuesday and Monday, the price was short on rallies; although the euro was close to support, the sideways decline pattern was very strong, so it was always given the idea of ​​sideways short selling; and they continued to be short and bearish around 1.09. Running downward; yesterday's short fall from 1.0880 to 1.09 was around 1.0830, and the profit of 60 basis points in the short term is not bad! In today's market, in the 1: day K, the stochastic indicator crosses downward, which is the main bearish signal; but the price is supported near the central axis track, which was also emphasized yesterday. The euro is bearish, but the support distance is relatively close. ;; The current position is more difficult to deal with; on the one hand, the indicators are bearish and the pattern is bearish, but the track support is still there: at 2:4 hours, the stochastic indicator is in the state of bottom divergence, and the main rebound correction; the pressure of top-bottom conversion The position is above and below 1.0870; To sum up: it is recommended to choose to rebound and go short; the reference position is 1.0860-1.0880, which is short, and the track support of 1.0840 in the game is broken and runs downward;
Short
by Crazy_money_making_signals
The Euro: A Symbol of European Unity and StabilityThe Euro, Europe's single currency, serves as a powerful symbol of unity and stability across the continent. Since its introduction, the Euro has played a pivotal role in fostering economic integration and cooperation among European Union member states. Central to the Euro's success is its ability to facilitate seamless trade and transactions within the Eurozone. By eliminating exchange rate fluctuations and simplifying cross-border transactions, the Euro has bolstered economic efficiency and facilitated the free movement of goods, services, and people across member states. Moreover, the Euro has strengthened Europe's position in the global economy. As one of the world's major reserve currencies, the Euro enhances Europe's economic influence and facilitates international trade and investment. The Euro also embodies the shared values and aspirations of European nations. It represents a commitment to cooperation, solidarity, and prosperity, transcending national boundaries and fostering a sense of common identity among Eurozone countries. Despite challenges such as economic disparities among member states and periodic financial crises, the Euro has proven resilient. Efforts to deepen economic integration, strengthen fiscal discipline, and enhance regulatory frameworks underscore a commitment to preserving the Euro's stability and integrity. Looking ahead, the Euro remains central to Europe's vision of a more united and prosperous continent. As Europe navigates global challenges and opportunities, the Euro stands as a testament to the power of cooperation and collective action in shaping a brighter future for all Europeans.
by Rachel_FX
Euro: Navigating Economic Crossroads in 2024Amidst a backdrop of economic uncertainty, the Euro (EUR) faces pivotal challenges and opportunities in the year 2024. With ongoing discussions surrounding fiscal policy, inflationary pressures, and geopolitical tensions, the Eurozone finds itself at a crossroads. Investors closely monitor key indicators, from GDP growth to unemployment rates, to gauge the Euro's resilience and stability. As central banks adjust monetary policies and governments implement stimulus measures, the EUR's trajectory remains uncertain. Yet, amidst challenges lie opportunities, as the Eurozone seeks to strengthen economic ties and foster sustainable growth. In the dynamic landscape of global finance, the Euro's journey in 2024 holds implications far beyond its borders.
by CaterinaGoldTrading
EUR Outlook: Navigating Economic Shifts and Policy DevelopmentsLet's explore the latest developments shaping the outlook for the Euro amidst evolving economic shifts and policy developments. Here's a concise overview of the Euro's current landscape: The Euro has shown resilience in recent trading sessions, maintaining stability amidst changing economic conditions and market uncertainties. Despite challenges, the Euro remains a cornerstone of the global currency market, reflecting Europe's economic strength and resilience. Economic indicators across the Eurozone present a mixed picture, with signs of recovery tempered by ongoing challenges. While manufacturing activity shows robustness, the services sector faces headwinds, highlighting the uneven nature of the region's economic rebound. Central bank policies continue to play a crucial role in shaping the Euro's trajectory, with the European Central Bank (ECB) closely monitoring inflationary pressures and growth prospects. Any signals of policy adjustments or forward guidance could impact market sentiment and Euro volatility in the coming sessions. Geopolitical developments, including Brexit negotiations and trade tensions, also influence the Euro's performance. Uncertainties surrounding trade agreements and diplomatic relations add to market volatility, requiring traders to remain vigilant and adaptable. Looking ahead, market participants will closely monitor economic data releases, central bank meetings, and geopolitical developments for insights into the Euro's direction. As the Eurozone navigates through economic challenges and policy responses, the Euro's resilience and adaptability will be put to the test. In summary, the Euro's outlook remains subject to various economic and geopolitical factors, presenting opportunities and challenges for investors. Stay informed, stay adaptable, and stay ahead in the dynamic world of currency trading.
by Midas_Calista
3
EUR Decline: Analyzing the Clear Downward TrendThe EUR is currently experiencing a clear downward trend in its value. This decline is notable across various currency pairs and is attributed to several factors affecting the Eurozone economy. One significant factor contributing to the EUR's decline is the uncertainty surrounding the Eurozone's economic recovery. Despite initial optimism, concerns over sluggish growth and inflationary pressures have weighed heavily on investor sentiment, prompting a shift away from the euro. Additionally, diverging monetary policies between the European Central Bank (ECB) and other major central banks, such as the Federal Reserve, have also played a role in the EUR's decline. While the ECB maintains a dovish stance, implementing measures to support economic recovery, other central banks have signaled intentions to tighten monetary policy, leading to a relative weakening of the euro. Geopolitical tensions and trade uncertainties further exacerbate the downward pressure on the EUR, as investors seek safer assets amid heightened risk aversion. In summary, the EUR is currently on a clear downward trajectory, influenced by economic uncertainties, diverging monetary policies, and geopolitical tensions. Investors should closely monitor these factors for potential further declines in the euro's value.
by LiLy_Happy
Euro's Resilience Amid Global Economic HeadwindsThe euro, Europe's common currency, has showcased remarkable resilience amidst the prevailing headwinds of the global economy. Despite challenges stemming from geopolitical tensions and inflationary pressures, the euro has remained steadfast, bolstered by the European Central Bank's monetary policies and the region's strong economic fundamentals. Recent fluctuations in currency markets have underscored the euro's stability, with investors turning to it as a safe haven in times of uncertainty. Its status as the second most traded currency in the world further solidifies its importance on the global stage, providing a reliable anchor for international trade and investment. However, the euro faces ongoing challenges, including divergent economic performance among Eurozone countries and the specter of Brexit lingering over the European Union. Moreover, the resurgence of COVID-19 variants and supply chain disruptions pose additional risks to the euro's outlook. Despite these obstacles, the euro's resilience remains a testament to the Eurozone's commitment to economic integration and stability. As policymakers navigate the complexities of a rapidly evolving global landscape, the euro stands poised to weather the storm and emerge stronger, reaffirming its position as a cornerstone of the global financial system.
by Larissa-Trader
Euro's Risk Amid CPI SurgeEuro marked its strongest two-month performance in a year, surging 4.4% against the US dollar in November and December 2023. The dollar's weakness largely contributed to this rise, driven by expectations of swift rate cuts from the Federal Reserve, eroding its competitive edge. The European Central Bank (ECB) countered rate-cut pressures. Despite the Fed's market-friendly stance in December, ECB President Christine Lagarde dismissed talks of rate cuts, propelling the euro up by over 1%. Lagarde also anticipated fundamental impacts boosting December inflation and projecting a slower inflation decline in 2024. Forecasts predict Germany's CPI to rise to 3.9% from November's 2.3%. This week's release of regional CPI figures, expected after German data, forecasts inflation reaching 3% in December, marking a three-month high. Yet, market doubts linger regarding the ECB's hawkishness. The market's implied path continues to sway dovishly after December, with expectations of the first 25 basis point cut by April. Traders have factored in six cuts, totaling 150 basis points or a 1.5% rate decrease, and imply a 68% likelihood of a seventh cut. This hints at a perceived tilt toward a dovish policy trajectory.
by Larissa-Trader
EUR/USD Nears 1.1050 Closure for 2023Technical Outlook: The EUR/USD rate lingers around 1.1050, swinging between the 50-hour and 200-hour SMAs as 2023 draws to a close. Post-holiday trading will transition into an extended break after the New Year, with EUR/USD finding technical support from the 200-hour SMA just above 1.1000. Daily candlesticks reflect an overbought scenario as the Euro retreats from Thursday's multi-month high near 1.1150. The 50-day SMA converges toward the 200-day SMA around 1.0850. Technical indicators, including the 14-day RSI, hint at a potential pullback from overbought conditions. The restrained movement of EUR/USD near 1.1050 signals cautious market sentiments, with indicators suggesting a possible retreat despite recent highs. This shift may influence early market trends in the new year. Wishing everyone a Happy New Year !
by Larissa-Trader
EUR/USD Holds Above 1.1100, Eyes US Employment Data EUR/USD extends its upward momentum beyond the psychological level of 1.1100 during the Asian session on Thursday. The US dollar's overall weakness provides some support for the major currency pair, despite the rebound in US Treasury bond yields. Attention is now focused on mid-range US employment data. EUR/USD has confirmed the breakthrough above 1.1000 and quickly reached the 1.1100 mark. The pair peaked at 1.1122 before retracing modestly. The upward trend persists, although technical indicators are overbought across most timeframes. The trend remains strong and resilient, though some consolidation seems likely. On the 4-hour chart, the trend is bullish. However, technical signals suggest some accumulation may occur ahead of the Asian trading session, potentially ranging between 1.1110 and 1.1080. The 1.1050 region has become a relevant support area, followed by the 20-period Simple Moving Average (SMA) at 1.1030. Below 1.0980, the short-term trend may turn neutral. Corrections could be viewed as buying opportunities, keeping downsides limited.
by Larissa-Trader
EUR/USD Holds Above 1.1100 Despite Overbought SignalsEUR/USD extended its rise above 1.1100 in the Asian session on Thursday, supported by a weaker US dollar. Despite overbought technical indicators, the pair confirmed the breakthrough above 1.1000. The upward trend remains strong, with potential consolidation between 1.1110 and 1.1080. Key support lies at 1.1050, followed by the 20-period SMA at 1.1030. Corrections may present buying opportunities, with downside risks limited below 1.0980.
by AdmamTrade
EUR/USD Analysis: Post-Christmas InsightsOur technical outlook for EUR/USD remains unchanged as we await shifts in performance, likely to occur with the return of investors and market activity post the holiday season. Currently, examining the daily chart, there's a discernible upward trend in the pair's performance, holding steady around and above the psychological resistance level of 1.1000. If the weakness in the US dollar persists, the currency pair may find opportunities for further recovery. From a technical standpoint, the immediate resistance levels are at 1.1065 and 1.1120. Beyond these levels, technical indicators may start leaning towards overbought conditions. Conversely, within the same timeframe, a retracement to the support level of 1.0880 is crucial for the bearish camp to regain control and disrupt the current upward momentum. Stay tuned for market developments as we navigate the dynamics in the post-holiday trading environment.
by Larissa-Trader
AUD Falls from Yearly Highs Amidst US Core PCE Data ReleaseThe Australian Dollar experienced a notable surge as the US Dollar dipped close to its monthly lows. The Reserve Bank of Australia will assess additional data to shape future monetary policy decisions. Softened data from the US reinforces expectations of the Fed easing monetary policy in early 2024, with Q3 annual GDP and QoQ core PCE dropping by 4.9% and 2.0%, respectively. The Australian Dollar is currently trading below the psychological resistance level at 0.6800, having peaked at 0.6802 on Friday. Widely shared bullish sentiment suggests the potential for the AUD/USD pair to surpass recent highs and target a significant resistance level at 0.6850. On the flip side, key support levels are identified at 0.6750, ahead of the seven-day Exponential Moving Average (EMA) at 0.6740. A breach below this crucial support zone may guide the AUD/USD pair towards the psychological support at 0.6700, followed by the 23.6% Fibonacci retracement level at 0.6679.
by Larissa-Trader
1
Positive Outlook for EUR/USD in the Coming YearThe swifter interest rate cuts in the United States compared to elsewhere signal a more pronounced weakening of the dollar. The U.S. interest rate reductions are also expected to bolster the global economy, commodity and energy prices, as well as risk sentiment. Consequently, risk-sensitive currencies like NOK and SEK are anticipated to perform well in the near future. However, there are numerous uncertainties on the horizon, including underlying government debt issues, the U.S. Presidential election, and geopolitical challenges. Many of these factors could potentially strengthen the USD beyond our initial predictions.
by AdmamTrade
2
EUR/USD Rises Above 1.1000 Amid Dollar Weakness and ECB SupportThe EUR/USD pair shows modest gains, reaching its highest level in four months during the early hours of Asian trading on Friday. The weakened U.S. dollar and the European Central Bank's hawkish stance have bolstered this currency pair. Trading around 1.1008, the main currency pair has increased by 0.05% for the day. The EUR/USD rate is poised to close at its highest daily level since early August on Thursday but still remains below the psychological 1.1000 level. From a technical perspective, breaking above 1.1000 could open the door for further upward movement. However, considering current market conditions, the timing for a breakout may not be ideal for Euro bulls. Technical indicators on the daily chart lean towards an upward bias, indicating a potential breakout. The Euro's prospects will weaken with a daily close below 1.0870. On the 4-hour chart, technical indicators do not align with the daily chart's upward movement. The Relative Strength Index (RSI) is sideways and poised to turn downward, momentum is weak, and the Moving Average Convergence Divergence (MACD) does not provide clear signals. However, the price remains above the 20-period Simple Moving Average (SMA). As long as it stays above 1.0950, the odds favor the 1.1000 breakout. A dip below that level would weaken the Euro in the short term, indicating the next support level at 1.0910. EUR/USD rose on Thursday towards the 1.1000 level, driven by the dollar's recent weakness, despite higher bond yields. Contradictory economic data from the U.S. precedes crucial consumer inflation data scheduled for Friday. U.S. data reveals a decline in the Philly Fed Index, a revised Q3 GDP decrease from 5.2% to 4.9%, and Initial Jobless Claims showing little change from the previous week. On Friday, the preferred inflation measure of the Federal Reserve, the Core Personal Consumption Expenditures (Core PCE) Index, is due, with an expected 0.2% increase for November. Market participants will closely scrutinize U.S. inflation figures, which could impact the U.S. dollar, currently under pressure despite a rebound in U.S. yields. The 10-year Treasury bond yield rose from recent lows to 3.90%. EUR/USD continues to benefit from a weaker U.S. dollar, but the upward momentum seems restricted in thin market conditions.
by Larissa-Trader
2
EUR/USD Hurdles at 1.0800, Eyes on Fed's DecisionIn the Asian trading hours on Wednesday, EUR/USD continues to face resistance below the 1.0800 level. The market adopts a cautious stance, awaiting the U.S. Producer Price Index (PPI) inflation data and key policy announcements from the Federal Reserve later in the day. The EUR/USD pair finds support from the 100-day Simple Moving Average (SMA) and encounters resistance from the 200-day SMA. Despite attempts to breach the 1.0800 level, the pair swiftly retraces. On the daily chart, conflicting technical indicators reflect recent sideways movements, with the 20-day SMA at 1.0870 adjusting downwards. On the 4-hour chart, the Relative Strength Index (RSI) and Momentum indicators are trending higher, and the price remains above the 20-day SMA. However, the Euro appears to be restrained without strong conviction. Short-term risks are on the rise, holding above the 1.0770 level. A sustained rise and stability above 1.0805 would reinforce short-term prospects for a more lucrative scenario, targeting levels above 1.0830.
by Larissa-Trader
EUR/USD Range-Bound around 1.0760 Ahead of US CPI DataThe EUR/USD pair is trading in a narrow range around 1.0760 at the start of the Asian trading session on Tuesday. Traders prefer to stay on the sidelines ahead of key events in the US and the Eurozone. The pair is hovering around 1.0764, unchanged for the day. The EUR/USD exchange rate is trading near the 100-day Simple Moving Average (SMA). On the daily chart, the risk remains tilted to the downside, consistent with technical indicators. The Relative Strength Index (RSI) continues to move south, well below the 30 levels, and momentum is stable below the midline. On the 4-hour chart, the pair also shows a bearish trend, with prices below the 20-period SMA and within a descending channel. The RSI and Momentum indicators are not providing clear signals. If the pair rises above 1.0780, it will break the channel and surpass the 20-period SMA, improving short-term prospects for the Euro, aiming for the resistance zone around 1.0800/1.0805. At that level, the next relevant resistance is at 1,0845. On the downside, the exchange rate is expected to weaken further, with a decline below 1.0740, where the next support level is 1.0715, and below that, the pair may find support around 1.0690. The EUR/USD touched a low of 1.0741 and then rebounded to the 1.0765 area amid limited price action on a quiet Monday. The US Dollar Index recorded a slight increase, supported by higher Treasury yields as investors await important economic reports and central bank meetings. On Tuesday, the ZEW survey is expected to show a decline in economic sentiment indices for the Eurozone and Germany in December. The focus will then shift to the European Central Bank (ECB) meeting on Thursday, with no expected changes in interest rates, and discussions expected to revolve around reinvestment from the Pandemic Emergency Purchase Program (PEPP) and minimum reserve requirements. In the US, the Consumer Price Index (CPI) will be released on Tuesday. CPI is expected to show a monthly inflation increase of 0.1% in November, with the core CPI at 0.3%. Yearly CPI is expected to be at 3.1%, compared to 3.2% recorded in October. These figures are unlikely to change expectations for the Federal Reserve's next decision. The Federal Open Market Committee (FOMC) meeting will begin on Tuesday, and the announcement on Wednesday may cause some surprises. The focus will be on new forecasts. The US Dollar Index has risen but remains below last week's highs, driven by the rise in USD/JPY rates due to higher yields. The market is currently in a consolidation phase, waiting for the next catalyst. Rewrite a fresh article in English based on the available content, ensuring it is not duplicated with any other articles.
by Gwen_Humuna
EUR/USD Rebounds from Multi-Week Lows, Trading Above 1.0750EUR/USD faced significant downward pressure, dropping to its weakest level in three weeks below 1.0750 on Friday following a stronger-than-expected Non-Farm Payrolls (NFP) report. However, weekend flows helped the currency pair recover some daily losses. The Relative Strength Index (RSI) on the 4-hour chart is higher but remains below 50, indicating a lack of recovery momentum. The pair needs a decisive move above 1.0820 (Simple Moving Average 200-day, Fibonacci retracement level of the latest uptrend) to establish it as support and extend its recovery towards 1.0860 (static level, 50-day SMA) and 1.0900 (Fibonacci retracement level of 23.6%, 100-day SMA). On the flip side, 1.0760 (Fibonacci retracement level of 50%, 200-day SMA) is considered a crucial support level before 1.0700 (psychological level, Fibonacci retracement level of 61.8%). EUR/USD benefited from the broad-based weakness of the US Dollar (USD) on Thursday, registering a daily increase for the first time since November 28. On Friday morning, the pair stabilized just below 1.0800 as market participants were cautious ahead of the US NFP report. Positive changes in risk sentiment made it challenging for the USD to find demand in the latter part of Thursday, pushing EUR/USD higher. The US Non-Farm Payrolls (NFP) report for November is expected to increase by 180,000. A figure above 200,000 could force investors to reassess the timing of potential policy changes by the Federal Reserve (Fed) and boost the USD initially. On the other hand, a disappointing figure below 150,000 could make it difficult for the USD to stay resilient against its counterparts heading into the weekend. Meanwhile, annual wage inflation is expected to decrease to 4% from 4.1% in October, and the unemployment rate is predicted to remain unchanged at 3.9%. The US economic calendar will also feature the preliminary December Consumer Sentiment Survey from the University of Michigan. However, investors may overlook this report while scrutinizing labor market data.
by Gwen_Humuna