HomeForex MarketEvery day Foreign exchange Information and Watchlist: EUR/USD

Every day Foreign exchange Information and Watchlist: EUR/USD

I’ve received a basic development retracement setup on my radar for in the present day!

Assume EUR/USD is prone to bounce off its channel assist?

Earlier than transferring on, ICYMI, I’ve listed the potential financial catalysts that you should be careful for this week. Examine them out earlier than you place your first trades in the present day!

And now for the headlines that rocked the markets within the final buying and selling periods:

Recent Market Headlines & Financial Information:

Australia’s MI inflation gauge rose from 0.5% to 0.8%

Australian job ads slowed from 10.9% acquire to 0.4% uptick

Shanghai stories one other file variety of COVID-19 circumstances

China stories new variant of COVID-19 virus


BOE Governor Bailey’s speech at 9:05 am GMT
BOE MPC member Cunliffe’s speech at 2:00 pm GMT
U.S. manufacturing unit orders at 2:00 pm GMT
BOC enterprise outlook survey at 2:30 pm GMT

Use our new Forex Warmth Map to shortly see a visible overview of the foreign exchange market’s value motion! 🔥 🗺️

What to Watch: EUR/USD

EUR/USD 1-hour Foreign exchange Chart

With no main stories on deck in the present day, I’m taking a look at this easy technical setup on the hourly chart of EUR/USD.

Will the development nonetheless be our buddy?

The pair has been cruising inside a rising channel with its increased lows and better highs for a month already. One other check of assist appears to be underway, however the 61.8% Fibonacci retracement degree is doing a tremendous job of protecting losses in verify for now.

If assist holds, EUR/USD may make its approach again as much as the swing excessive across the 1.1200 deal with or the channel resistance. Stochastic has room to climb anyway, so the pair may observe swimsuit whereas consumers have the higher hand.

Additionally, the 100 SMA is above the 200 SMA to verify that the uptrend is prone to keep on. Plus, the 200 SMA strains up with the 61.8% Fib so as to add to its energy as a ground!

The greenback may take a breather from its current rallies since final Friday’s NFP report turned out weaker than anticipated, dampening hopes of aggressive tightening strikes from the Fed. Nonetheless, if danger aversion extends its keep within the markets, the safe-haven greenback may proceed to rake in beneficial properties.



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