It is a relatively busy day ahead for the EUR/USD. ZEW Economic Sentiment figures for Germany and the Eurozone will draw interest today. Following the collapse of Silicon Valley Bank and Signature Bank (SBNY), economic sentiment figures are likely to weaken. Economists forecast the German Economic Sentiment Index to fall from 28.1 to 17.1 in March, with the...
The euro lost almost 0.7% on Thursday as better-than-expected U.S. economic data pushed the U.S. dollar higher. Possible effects for traders The U.S. dollar strengthened after the unemployment claims report pointed out a strong U.S. jobs market. Other data showed growing labor costs, indicating the Fed has to raise interest rates further to tame inflation. 'This...
The EUR/USD needs to move through the $1.0597 pivot to target the First Major Resistance Level (R1) at $1.0621 and the Tuesday high of $1.06453. A return to $1.06 would signal a bullish session. However, the EUR/USD would need the stats and the ECB chatter to support a breakout session. In the case of an extended rally, the bulls will likely test the Second Major...
EURUSD dropped by almost 0.06% as inflation fears increased due to Fed's latest statements. Possible effects for traders Today, Germany will release the second assessment of Q4 GDP and the GFK Consumer Sentiment Index. Another important event is the U.S. PCE report for January. Overall, the Fed seems ready to continue further rate hikes, supporting the U.S....
The instrument was almost rangebound yesterday and dint gave any solid trading opportunity The max solid signal it gave was for 15 to 30 pips with a tight SL. The following are some of the important levels which needs to be taken care of before opening any order for the day :- 8th Feb DH - 1.07607 DL- 1.06877 9TH Feb. PIVOT - 1.0727 R1 - 1.0744 , S1 -...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (7.4706). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . EURTRY is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic...