EURUSD. Take a look on (1.1186 - 1.1267) as a profit-taking area
- Technical Analysis Rating: Moderately Buy
The EURUSD has been in a bullish trend since the beginning of June. The price has broken above the 1.08234 resistance level and is now consolidating above it.
The RSI indicator is in the overbought territory, but it has not yet crossed the 70 level. This suggests that the bulls are still in control, but there may be some profit-taking in the near future Such as the rebound from 1.10134 resistance level that occurred on last Friday.
The MACD indicator is also bullish, but it is starting to flatten out. This suggests that the momentum in the bullish trend is starting to slow down. However, the MACD indicator is still above the zero line, so the trend is still considered to be bullish.
- Fundamental Analysis Rating: Natural
There are some factors that could support the EURUSD in the near future. The European Central Bank (ECB) is expected to raise interest rates in July, which could strengthen the euro. Additionally, the US economy is showing signs of slowing down, which could weaken the dollar.
However, there are also some factors that could weigh on the EURUSD. The war in Ukraine is still ongoing, and this could continue to create uncertainty in the markets. Additionally, the Chinese economy is slowing down, which could hurt global growth.
About Economic Events Next Week
The economic events that you mentioned could have a significant impact on the EURUSD pair. The minutes of the US Federal Reserve meeting could provide clues about the future course of monetary policy. If the minutes suggest that the Fed is more hawkish than expected, this could weigh on the dollar and support the euro.
The GDP data from the UK could also have an impact on the EURUSD pair. If the GDP data is weaker than expected, this could weigh on the pound and support the euro.
The monetary policy statement from the European Central Bank could also have an impact on the EURUSD pair. If the ECB signals that it is ready to raise interest rates, this could support the euro.
The non-farm payrolls data from the US is the most important economic data release in the US. If the non-farm payrolls data is stronger than expected, this could support the dollar and weigh on the euro.
Expected Direction
Overall, the technical & fundamental analysis both suggest that the
EURUSD is likely to continue to rise in the near future. However, there are some risks that could weigh on the currency pair. If your are in a long position take a look on the main zone as a profit-taking area (1.1186 - 1.1267)
The EURUSD has been in a bullish trend since the beginning of June. The price has broken above the 1.08234 resistance level and is now consolidating above it.
The RSI indicator is in the overbought territory, but it has not yet crossed the 70 level. This suggests that the bulls are still in control, but there may be some profit-taking in the near future Such as the rebound from 1.10134 resistance level that occurred on last Friday.
The MACD indicator is also bullish, but it is starting to flatten out. This suggests that the momentum in the bullish trend is starting to slow down. However, the MACD indicator is still above the zero line, so the trend is still considered to be bullish.
- Fundamental Analysis Rating: Natural
There are some factors that could support the EURUSD in the near future. The European Central Bank (ECB) is expected to raise interest rates in July, which could strengthen the euro. Additionally, the US economy is showing signs of slowing down, which could weaken the dollar.
However, there are also some factors that could weigh on the EURUSD. The war in Ukraine is still ongoing, and this could continue to create uncertainty in the markets. Additionally, the Chinese economy is slowing down, which could hurt global growth.
About Economic Events Next Week
The economic events that you mentioned could have a significant impact on the EURUSD pair. The minutes of the US Federal Reserve meeting could provide clues about the future course of monetary policy. If the minutes suggest that the Fed is more hawkish than expected, this could weigh on the dollar and support the euro.
The GDP data from the UK could also have an impact on the EURUSD pair. If the GDP data is weaker than expected, this could weigh on the pound and support the euro.
The monetary policy statement from the European Central Bank could also have an impact on the EURUSD pair. If the ECB signals that it is ready to raise interest rates, this could support the euro.
The non-farm payrolls data from the US is the most important economic data release in the US. If the non-farm payrolls data is stronger than expected, this could support the dollar and weigh on the euro.
Expected Direction
Overall, the technical & fundamental analysis both suggest that the
EURUSD is likely to continue to rise in the near future. However, there are some risks that could weigh on the currency pair. If your are in a long position take a look on the main zone as a profit-taking area (1.1186 - 1.1267)
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