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EURUSD

EURUSD eases inside two-month-old bullish channelBetter-than-expected US growth numbers triggered the much-awaited pullback in the EURUSD prices from the eight-month high. The retreat, however, stays inside a two-month-long ascending trend channel, which in turn suggests less incentive for the bears. Even so, the previous weekly low surrounding 1.0765 and December’s peak of 1.0736 could lure short-term sellers. Following that, an upward-sloping support line from early November, close to 1.0730 might probe the further downside. It’s worth noting that the quote’s weakness past 1.0730 could make it vulnerable to testing the 1.0610-600 support confluence comprising the 50-DMA and lower line of the stated bullish chart formation. In a case where the pair stays weaker past 1.0600, the bears could have an easy battle to retake control. Meanwhile, EURUSD buyers could drill the aforementioned channel’s top line, around 1.0950 by the press time, during the fresh advances. Following that, the 1.1000 round figure could probe the upside momentum. It’s worth observing that the tops marked during March 2022 around 1.1140 and 1.1185 appear the easy reach for the pair bulls in case of its successful trade beyond 1.1000 psychological magnet. Overall, EURUSD bulls aren’t off the table but are tired enough to trigger a pullback.
by MTradingGlobal
EURUSD has bumpy road to north even as bulls keep the reinsA two-month-old ascending trend channel backs the EURUSD pair’s upside bias, despite multiple failures to cross the 1.0880 horizontal hurdle in the last week. That said, the 50-SMA and the 100-SMA restrict immediate downside around 1.0790 and 1.0700 respectively. Following that, the stated bullish channel could be at the test and hence the 1.0575 support will gain major attention. Should the quote drops below 1.0575, a slump toward the monthly low near 1.0480 appear imminent while any further downside won’t hesitate to challenge the lows marked during November. Meanwhile, a successful break of the one-week-old horizontal resistance near 1.0880 isn’t an invitation for the bulls as the top line of the aforementioned channel, close to 1.0910, will act as the last defense of the EURUSD bears. In a case where the pair rises past 1.0910, it could quickly rise to the 1.1000 round figure. It’s worth noting that January 2022 low and the late March 2022 high, respectively around 1.1125 and 1.1185, might probe the pair buyers before giving them full control. Overall, EURUSD stays inside a bullish chart formation and the oscillators are positive too. However, the upside momentum lacks acceptance and hence buyers should remain cautious.
by MTradingGlobal
EURUSD - 30M PROJECTIONDISCLAIMER: The Company accepts no accountability or obligation for your trading and speculation results, and you consent to hold the Company innocuous for any such outcomes or misfortunes. We are not financial advisers or account managers; We are Forex traders. The recordings on this channel are rigorously for educational and amusement purposes. Trading Forex implies dangers, and you can lose all your venture ; consequently, you exclusively must take a chance.
Short
by Azif123
EURUSD Highs & Low BUY SELL Price 1.0868- 1.0780Stocks rise, dollar stumbles after U.S. inflation data NEW YORK (Reuters) - A gauge of global stocks climbed on Thursday while longer-dated U.S. Treasury yields and the dollar fell after a reading of consumer prices fed expectations the Federal Reserve may have leeway to scale back the size of future interest rate hikes. U.S consumer prices fell in December for the first time in more than 2-1/2 years as prices fell for gasoline and other goods, suggesting inflation was on a sustained downward trend. Still, a separate reading on the labor market showed weekly initial jobless claims came in at 205,000, below expectations of 215,000. Many market participants are looking for signs of weakness in the labor market as a signal of slowing inflation. On Wall Street, equities were choppy after the data, with the S&P 500 falling as much as 0.8% and then rebounding. Friday will bring results from a number of big U.S. banks, kicking off the fourth-quarter earnings season for S&P 500 companies. The Dow Jones Industrial Average rose 216.96 points, or 0.64%, to 34,189.97, the S&P 500 gained 13.56 points, or 0.34%, to 3,983.17 and the Nasdaq Composite added 69.43 points, or 0.64%, to 11,001.11. The pan-European STOXX 600 index rose 0.63%, closing at its highest level since April 29, and MSCI's gauge of stocks across the globe gained 0.80% to notch a fifth straight session of gains, its longest streak since August. Expectations for a 50 basis point rate hike at the next Federal Reserve meeting fell to 3.8% according to CME's FedWatch Tool, down from 23.3% the day prior. The market is pricing in a 96.2% chance of a 25 basis point hike, up from 76.7% on Wednesday. The benchmark U.S. 10-year notes were down 12.9 basis points to 3.427%, from 3.556% late on Wednesday. St. Louis Fed President James Bullard said the inflation data was a step in the right direction and the U.S. economy was primed for disinflation this year, but the road back to the central bank's 2% target would be bumpy. Richmond Federal Reserve president Tom Barkin echoed the sentiment about the data and said it allowed the Fed to "steer more deliberately". The dollar index hit its lowest level since early June at 102.07 before slightly paring losses, and was last down 0.873%, with the euro up 0.89% to $1.0851. The Japanese yen strengthened 2.56% versus the greenback at 129.18 per dollar, while Sterling was last trading at $1.2215, up 0.60% on the day. Crude prices rose in the wake of the data, getting an additional boost from optimism over China's emergence from its COVID-19 restrictions creating additional demand. U.S. crude settled up 1.27% at $$78.39 per barrel and Brent settled at $$84.03, up 1.65% on the day.
by vishalfxfx