EURUSD setup for the week
Hey traders, we have a really busy week ahead of us. The Fed will be announcing their rate decision as well as the latest PPI numbers for the US dollar.
Latest unemployment numbers were lower than expected and US inflation rose the most in 30 YEARS. So I feel this is a really strong bullish signal for the US dollar.
I feel the US could potentially raise rates, where as the ECB decided to keep rates lower in their latest announcement.
From a technical view, we are forming a downtrend and we were able to break the 200 SMA. On the short term we could see a pullback. But in the longer term I am bearish on the EURUSD pair.
Latest unemployment numbers were lower than expected and US inflation rose the most in 30 YEARS. So I feel this is a really strong bullish signal for the US dollar.
I feel the US could potentially raise rates, where as the ECB decided to keep rates lower in their latest announcement.
From a technical view, we are forming a downtrend and we were able to break the 200 SMA. On the short term we could see a pullback. But in the longer term I am bearish on the EURUSD pair.
Trade closed: target reached
What a week guys, just as planned. The FED just said they will raise rates 2 TIMES till 2023. So we really can have a bullish bias on USD, the DXY also took major support aswell. Now as we go into the next week, we may see some more pullbacks but our downtrend will be continuing, So i will be looking for more sell opportunities on major resistance levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.