EURUSD analysis week 24
Updated
EUR/USD clings to gains above 1.0850 following US inflation data. EUR/USD traded in positive territory around 1.0850 during the US session on Friday. The US dollar struggled to maintain its strength following the April PCE inflation data and helped the pair hold its ground at the end of the week.
The EU region's CPI consumer price index has begun to cool down, but according to March and April data, this index still increased around 2.4% over the same period last year in recent shares shared by the ECB President. believes that inflation in the EU area is expected to continue to decrease and the ECB can lower interest rates if they meet the inflation assessment criteria they have identified.
The price range of the EURUSD pair is getting narrower, showing that the long-term accumulation of the currency pair is about to reach a boom stage. Pay attention to the break out hooks 1,080 and 1,088 to get appropriate trend trading signals. When the price breaks out of the narrow range, important support and resistance levels will be quite far away. Above the old peak resistance level around 1,093 and in the opposite direction, the old Dow breaking support area at 1,074 will be a support area that investors trust.
Trading signals:
BUY zone 1.07400-1.07200 SL 1.06900
SELL zone 1.09300-1.09500 SL 1.09800
Beak out and retest: 1.08800 and 1.08000
The EU region's CPI consumer price index has begun to cool down, but according to March and April data, this index still increased around 2.4% over the same period last year in recent shares shared by the ECB President. believes that inflation in the EU area is expected to continue to decrease and the ECB can lower interest rates if they meet the inflation assessment criteria they have identified.
The price range of the EURUSD pair is getting narrower, showing that the long-term accumulation of the currency pair is about to reach a boom stage. Pay attention to the break out hooks 1,080 and 1,088 to get appropriate trend trading signals. When the price breaks out of the narrow range, important support and resistance levels will be quite far away. Above the old peak resistance level around 1,093 and in the opposite direction, the old Dow breaking support area at 1,074 will be a support area that investors trust.
Trading signals:
BUY zone 1.07400-1.07200 SL 1.06900
SELL zone 1.09300-1.09500 SL 1.09800
Beak out and retest: 1.08800 and 1.08000
Trade active
Trade active
Note
EUR/USD holds above 1.0850 after US dataEUR/USD struggles to gain traction but manages to hold above 1.0850 in the second half of the day on Tuesday. Although the lower-than-expected US Job Openings data for April limits the US Dollar's gains, the cautious market stance doesn't allow the pair to push higher.
Note
EURUSD broke the trendline and retested. may soon reach the resistance area we have analyzedTrade active
Trade active
EURUSD is gradually approaching the resistance zoneNote
EUR/USD holds firmer near 1.0900, focus shifts to US NFP dataEUR/USD is trading close to 1.0900, slightly on the front foot early Friday. The pair capitalizes on a risk-on market environment, as markets cheer Thursday's rate cut decision by the ECB, which ramped up expectations of a Sept Fed rate cut. All eyes remain on the US NFP data.
JOIN OUR FREE TELEGRAM GROUP t.me/+HARBQ2pBFaI5ZjI1
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
MESSAGE US FOR VIP SIGNALS🏆 t.me/Leilani8597
Related publications
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.