The EUR/USD currency pair began its London session with a promising bullish impulse. Initially, it appeared that the euro was gaining traction as investors showed renewed interest. However, this optimism was short-lived as the European Central Bank (ECB) officials signaled support for further interest rate cuts, leading to a swift reversal of intraday gains. Market analysts expect the ECB to implement a substantial interest rate reduction of around 100 basis points in the upcoming year. This prospective easing of monetary policy has raised concerns among investors, prompting them to reevaluate their positions in the euro. As the sentiment shifts, market participants are paying close attention to the ECB’s next moves and how they will impact the euro's valuation. In addition to developments from the ECB, investors are also focused on the Federal Reserve's dot plot, which will provide insights into future interest rate projections in the United States. As the Fed navigates its monetary policy landscape, any signals of tightening could play a significant role in influencing global currency movements, particularly with the euro in the spotlight. The Current State of the Euro As I write this article, the euro has surrendered its intraday gains and is trading around the critical psychological level of 1.0490. This decline reflects strong bearish pressure currently weighing on the currency. From a technical analysis perspective, the trends suggest a sustained downturn, raising questions about the euro's ability to regain its footing. Looking back over the past decade, seasonality data reveals a generally bullish trend for the euro during this period. However, the recent political climate, particularly the election of President Trump, has fortified the DXY’s (U.S. Dollar Index) upward momentum. This unexpected resilience of the dollar adds another layer of complexity to the euro’s outlook. With a target price established at 1.0350 for the euro, market analysts see potential for further declines. If the euro approaches this level, it could prompt a reaction from traders. However, at this juncture, the sentiment indicates little chance for a significant reversal in direction. The coming weeks will be critical as both European and U.S. economic data continue to unfold, shaping the trajectory of the EUR/USD pair. In conclusion, while the EUR/USD pair started on a bullish note, the recent signals from the ECB and the prevailing market sentiment point toward a challenging environment for the euro in the short term. Traders will need to navigate carefully as they weigh the implications of interest rate cuts and geopolitical developments in their strategies. ✅ Please share your thoughts about EUR/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
GBPJPY , has finished consolidating at the Big boys Renegotiation Zone, Decision is in Favor of the Bulls because price has broken structure upward already. Price is reacting to a FVG by retracing a bit to give the Bulls a Perfect Entry At 61:8% discount. In Few days price will break That Renegotiation mini trend line with a Shift Candle( FVG) and will Head Towards Renegotiation Resistance to Sweep the Buyside Liquidity. Then Price Will Head To Mitigated the Unmitigated Order Block. Don't Miss This Longivity! Entry, Take Profit 1 &2 and Stop Loss Are Clearly Stated On The Chat. GOOD LUCK GREAT PEOPLE!
https://www.tradingview.com/x/nXyWZ1n7/ Looks like Dollar Index is ready for more growth. I see 2 strong bullish confirmations after a retest of a recently broken horizontal resistance: the price violated a resistance line of a symmetrical triangle and a neckline of a horizontal range. A strong bullish imbalance indicates a high momentum. We can anticipate more growth. Goal - 107.13 ❤️Please, support my work with like, thank you!❤️
Potential short idea building here. Area of 0.6280 providing resistance here in areas of previous support in November Descending channel Before entry, I am looking for the area of support at 0.6020 to be broken to suggest strong bearish continuation Also looking for the small uptrend support line (red trend line) within the channel to be broken as a further suggestion of bearish movement Entry at 0.6250 with stop at 0.6300
Nifty has again held on to the Motherline support of 50 Hours EMA today and if it is able to cross the resistance of 24698 more upside can be on the cards. In such a scenario the resistances on the upside in addition to 24698 will be at 24775, 24852, 24975 and finally 25147. The supports for Nifty on the lower side seem to be at Mother line of 50 Hours EMA which is at 24852, 24398 Father line support of 200 hours EMA, Mid channel support at 24290 and finally the support is at 24174. Below 24174 Nifty become very weak. Above 25147 there will be a parallel channel breakout and Bulls will become very powerful. The signs are positive and despite a negative day on the browsers shadow of the candle is neutral to positive for tomorrow. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
Bearish indications: Major resistance respected. Head and shoulder pattern in 15 min frame. Bearish divergence. Sideways trend MA 200 trend respected in 2 hr time frame. Trade plan bias short @ 88.71 SL:88.95 TP1:88.46 TP2":88.24
Litecoin is forming a rectangle pattern, indicating a potential $9 move depending on a bullish or bearish breakout. Given the overall bullish trend, a breakout to $124 is more likely to succeed than a breach to $115.17, as shown on the chart. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Earlier this morning I posted to buy on XAUUSD | GC, and the market reached our tp with a profit of 1000$ on futures, now we'll expect the market to make a reversal to ride it again and get to a lower point. Follow for more!
Massive Cup & Handle on weekly timeframe, looks like we are going to re-test the neckline before going to 400 usdt
Everybody is convinced that BTC.D has topped comparing it to arrow number 1. What if we should compare it to number 2? Overall movement direction is UP, not DOWN as it was in 2020. BTC.D found support on 50MA and formed hidden bullish divergence on RSI. 63-70% dominance is levels to watch