EURUSD Analysis (July 22-July 27)
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🌐Fundamental analysis:
EUR/USD fell slightly below 1.09. ECB kept interest rates unchanged as expected and left open a decision on interest rates in September. The US Dollar (USD) regained upward momentum on Thursday, bringing the USD Index (DXY) back above 104 .00, thanks to a significant recovery in US bond yields.
In his press conference, the ECB president expected the recovery to be supported by consumption, emphasizing the resilience of the labor market. Domestic inflation remains high and wages are growing at a high rate. Besides, investors are still debating whether the Fed will make one or two interest rate cuts this year.
Meanwhile, the prospect of an economic recovery in the Eurozone and signs of cooling in key US economic indicators could ease the ongoing divergence in monetary policy between Fed and ECB, sometimes supporting the EUR/USD pair in the near future.
🕯Technical analysis:
Expect EUR/USD to face the next upside resistance at 1.096, followed by the January high of 1.110. On the upside, if the bears regain control, the pair could target the 1.0820 EMA support zone before sliding to the June low of 1.0666. Looking at the big picture, it seems like the growth momentum will continue if the price line remains above the two EMA lines.
There are two break out levels to form a very important trend of the pair at 1.096-1.082.
Support: 1,083-1,068
Resistance: 1,096-1,110
SELL EURUSD zone 1.110-1.130 Stoploss 1.140
BUY EURUSD zone 1.082-1.080 Stop loss 1.079
EUR/USD fell slightly below 1.09. ECB kept interest rates unchanged as expected and left open a decision on interest rates in September. The US Dollar (USD) regained upward momentum on Thursday, bringing the USD Index (DXY) back above 104 .00, thanks to a significant recovery in US bond yields.
In his press conference, the ECB president expected the recovery to be supported by consumption, emphasizing the resilience of the labor market. Domestic inflation remains high and wages are growing at a high rate. Besides, investors are still debating whether the Fed will make one or two interest rate cuts this year.
Meanwhile, the prospect of an economic recovery in the Eurozone and signs of cooling in key US economic indicators could ease the ongoing divergence in monetary policy between Fed and ECB, sometimes supporting the EUR/USD pair in the near future.
🕯Technical analysis:
Expect EUR/USD to face the next upside resistance at 1.096, followed by the January high of 1.110. On the upside, if the bears regain control, the pair could target the 1.0820 EMA support zone before sliding to the June low of 1.0666. Looking at the big picture, it seems like the growth momentum will continue if the price line remains above the two EMA lines.
There are two break out levels to form a very important trend of the pair at 1.096-1.082.
Support: 1,083-1,068
Resistance: 1,096-1,110
SELL EURUSD zone 1.110-1.130 Stoploss 1.140
BUY EURUSD zone 1.082-1.080 Stop loss 1.079
Nota
EUR/USD edges higher to 1.0895 in Monday’s early Asian session, up 0.12% on the day. Fed’s Williams said the US central bank was "getting us closer to a disinflationary trend that it’s looking for.
The ECB left interest rates unchanged last week and gave no hints about rate cuts at its next meeting.
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Nota
The GBPUSD strategy is still following the correct analysisNota
EUR/USD retreats to 1.0850 area as mood soursEUR/USD stays under bearish pressure and trades deep in negative territory near 1.0850 on Tuesday. The US Dollar benefits from safe haven flows and weighs on the pair as investors adopt a cautious stance ahead of this week's key earnings reports and data releases.
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EUR/USD holds near 1.0850 after US PMI dataEUR/USD holds steady at around 1.0850 in the second half of the day on Wednesday. The mixed US PMI data limits the US Dollar's gains but the risk-averse market atmosphere doesn't allow the pair to gather recovery momentum in the American session
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