EUR/USD - downtrend or reversal soon?
EUR/USD Technical and Fundamental Analysis (TFA)
---Fundamental Analysis
From a fundamental perspective, the EUR/USD is facing some headwinds. The European economy is slowing down, and the ECB is expected to keep interest rates low for the foreseeable future. The US economy is growing at a faster pace, and the Fed is expected to raise interest rates in the coming months.
However, there are also some positive factors for the EUR/USD. The eurozone is still a relatively safe haven currency, and it is benefiting from the recent weakness in the US dollar.
---Technical Analysis
The pair is still correcting on the downside, forming the Wace C of a bigger Wave 4.
I marked two potential targets on the downside. It is not mandatory for the price to hit them both, but for now the trend is on the downside.
Watch the price carefully when it gets close to the marked areas, to not be surprised by a sudden price reversal.
The technical picture for the EUR/USD is mixed. The exchange rate is trading above its 200-day moving average, which is a bullish sign. However, it is also trading below the 50-day moving average, which is a bearish sign.
The key level to watch on the upside is 1.0935, which is the high from last week. A break above this level could signal a move towards 1.1000. On the downside, the key level to watch is 1.0635, which is the May low. A break below this level could signal a move towards 1.0500.
Overall, the EUR/USD is a volatile market and the outlook is uncertain. Traders should be prepared for both bullish and bearish moves in the coming days.
I hope this post is helpful.
This analysis represents my personal thoughts at the date it is posted.
This analysis does not represent professional and/or financial advice.
You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information.
Any feedback is encouraged and appreciated. Thank you and have a nice day!
---Fundamental Analysis
From a fundamental perspective, the EUR/USD is facing some headwinds. The European economy is slowing down, and the ECB is expected to keep interest rates low for the foreseeable future. The US economy is growing at a faster pace, and the Fed is expected to raise interest rates in the coming months.
However, there are also some positive factors for the EUR/USD. The eurozone is still a relatively safe haven currency, and it is benefiting from the recent weakness in the US dollar.
---Technical Analysis
The pair is still correcting on the downside, forming the Wace C of a bigger Wave 4.
I marked two potential targets on the downside. It is not mandatory for the price to hit them both, but for now the trend is on the downside.
Watch the price carefully when it gets close to the marked areas, to not be surprised by a sudden price reversal.
The technical picture for the EUR/USD is mixed. The exchange rate is trading above its 200-day moving average, which is a bullish sign. However, it is also trading below the 50-day moving average, which is a bearish sign.
The key level to watch on the upside is 1.0935, which is the high from last week. A break above this level could signal a move towards 1.1000. On the downside, the key level to watch is 1.0635, which is the May low. A break below this level could signal a move towards 1.0500.
Overall, the EUR/USD is a volatile market and the outlook is uncertain. Traders should be prepared for both bullish and bearish moves in the coming days.
I hope this post is helpful.
This analysis represents my personal thoughts at the date it is posted.
This analysis does not represent professional and/or financial advice.
You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information.
Any feedback is encouraged and appreciated. Thank you and have a nice day!
I hope this was helpful.
This analysis represents my thoughts at the date it is posted.
This analysis does not represent professional and/or financial advice.
Trade wisely!
ymagnify.com/
This analysis represents my thoughts at the date it is posted.
This analysis does not represent professional and/or financial advice.
Trade wisely!
ymagnify.com/
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