Dear reader,
From a technical POV EURUSD has traded below its 1D side support trend and consolidated.
Its currently forming a range so I expect this to continue. However fundamentals are playing a big role here for its near future, not sure why, let me explain:
1: C. Lagarde ECB confirms she wants to see rate cuts
2: J. Powell FED U.S. and other officials (especially other officials) this week had a dovish view on the macro trend, with a strong U.S. economy (sales & retail, employment +-,...) meaning a delay in IR might be probable, which is good for the USD and bad for the EURO, less demand for lower interest currencies.
Inflation remains an issue however so this could re-balance/dis-inflate the strength of the USD
As always, comment like and support so we can continue sharing our experience on the markets
Best regards
Kevin
From a technical POV EURUSD has traded below its 1D side support trend and consolidated.
Its currently forming a range so I expect this to continue. However fundamentals are playing a big role here for its near future, not sure why, let me explain:
1: C. Lagarde ECB confirms she wants to see rate cuts
2: J. Powell FED U.S. and other officials (especially other officials) this week had a dovish view on the macro trend, with a strong U.S. economy (sales & retail, employment +-,...) meaning a delay in IR might be probable, which is good for the USD and bad for the EURO, less demand for lower interest currencies.
Inflation remains an issue however so this could re-balance/dis-inflate the strength of the USD
As always, comment like and support so we can continue sharing our experience on the markets
Best regards
Kevin