EURUSD analysis week 29 GBPUSD analysis week 29
Updated
Even as the PCE inflation report hurts the USD, EUR/USD may still struggle to mount a decisive recovery, as investors hold back while waiting for the Euro's expanding strength before the first round of elections in France.
EUR/USD turned sideways last week, capping a dismal trading week after there was little reason to push the pair to trade in a downtrend that was the main trend of the pair. Present. German import prices and labor figures generally missed targets, and US Personal Consumption Expenditures (PCE) price index inflation failed to gain significant momentum despite meeting forecasts. .
Next week, European inflation figures will hit the market at the start of the week with German Harmonized Consumer Price Index (HICP) figures on Monday, followed by EU-wide HICP inflation on Tuesday. Next week also marks the next release of US Nonfarm Payrolls (NFP) labor data, expected next Friday.
Fiber came face-to-face into technical hurdles on Friday, sinking at the 200-hour Exponential Moving Average (EMA) at 1.0715. The pair continues to battle the 1.0700 handle and so far, the bidders have been unable to pattern lower highs in the short term.
The EURUSD pair is still struggling with resistance at 1.075 and support at 1.067 As buyers continue to show signs of exhaustion, a break of the 2024 low at 1.0600 becomes increasingly likely. go out.
In case EUR/USD falls below the sideways band, 1.0610 could be set as the next downside target. On the positive side, 1.0750 last week's broad band resistance would serve as interim resistance before 1 ,0800.
Support: 1,067-1,061
Resistance: 1,075 - 1,080
BUY EURUSD zone 1.061-1.059 SL 1.057
SELL EURUSD zone 1.079 - 1.081 SL 1.083
EUR/USD turned sideways last week, capping a dismal trading week after there was little reason to push the pair to trade in a downtrend that was the main trend of the pair. Present. German import prices and labor figures generally missed targets, and US Personal Consumption Expenditures (PCE) price index inflation failed to gain significant momentum despite meeting forecasts. .
Next week, European inflation figures will hit the market at the start of the week with German Harmonized Consumer Price Index (HICP) figures on Monday, followed by EU-wide HICP inflation on Tuesday. Next week also marks the next release of US Nonfarm Payrolls (NFP) labor data, expected next Friday.
Fiber came face-to-face into technical hurdles on Friday, sinking at the 200-hour Exponential Moving Average (EMA) at 1.0715. The pair continues to battle the 1.0700 handle and so far, the bidders have been unable to pattern lower highs in the short term.
The EURUSD pair is still struggling with resistance at 1.075 and support at 1.067 As buyers continue to show signs of exhaustion, a break of the 2024 low at 1.0600 becomes increasingly likely. go out.
In case EUR/USD falls below the sideways band, 1.0610 could be set as the next downside target. On the positive side, 1.0750 last week's broad band resistance would serve as interim resistance before 1 ,0800.
Support: 1,067-1,061
Resistance: 1,075 - 1,080
BUY EURUSD zone 1.061-1.059 SL 1.057
SELL EURUSD zone 1.079 - 1.081 SL 1.083
Trade active
Note
EUR/USD consolidates gains near 1.0750 after German inflation dataEUR/USD stays in positive territory at around 1.0750 in the second half of the day on Monday. The data from Germany showed that the annual CPI inflation declined to 2.2% in June, limiting the Euro's gains. Investors await US Manufacturing PMI data.
Trade active
Note
EUR/USD clipped into a fresh multi-week high above 1.0770 on Monday before getting forced back down by a broad-market reversal in investor sentiment. Bullish momentum was cut short after US activity figures flashed warning signs of a steepening economic downturn.Note
Plan BUY + 50 pipsNote
Pay attention to the SELL resistance zone todayTrade active
Note
EUR/USD lurches higher after US data dumps GreenbackEUR/USD found a leg up on Wednesday, climbing briefly above the 1.0800 handle after a broad miss in US economic figures hinted at further signs of a weakening US economy, sparking fresh hopes for an accelerated pace of rate cuts from the Federal Reserve and markets flowing out of the safe haven US Dollar.
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