Daily Price Outlook

EUR/USD continues its intriguing journey as it tests the crucial resistance level at 1.0955. Despite its efforts to breach this pivotal point, the pair has managed to hold on below it, keeping the downward trend intact. Traders eagerly await the next move, with potential targets at 1.0880 and 1.0835, making for an exciting market outlook.

Adding to the intrigue, the Stochastic indicator has lost its positive momentum and entered overbought territory, providing further support for the resumption of the downward trend. However, it's important to keep an eye on potential game-changers – a breakthrough of 1.0955, followed by 1.0990, could effectively thwart the negative scenario and redirect prices towards the main upward trend.

As we gear up for today's trading, the anticipated range stands between the support level of 1.0850 and the resistance level of 1.1000. The excitement builds as we navigate the potential twists and turns of the market!

EUR/USD - Trade Idea

Entry Price – Sell Below 1.09585

Take Profit – 1.08750

Stop Loss – 1.09999

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$835/ -$414

Profit & Loss Per Micro Lot = +$83/ -$41

Daily Price Outlook

The EUR/USD currency pair has been unable to maintain its upward momentum and has recently lost some traction, currently trading at the level of 1.0943. Investors seem cautious and showing hesitancy in making strong bids due to the mixed market sentiment, which has been driven by the anticipation of crucial economic data releases from the US. Furthermore, the Eurozone's Retail Sales for June experienced a decline of 0.3% every month, falling short of the expected 0.2% growth. This disappointing economic data has further weakened the position of the EUR/USD pair in the market.

European Central Bank (ECB) Rate Hike Impact on EUR/USD Pair

The European Central Bank (ECB) increased interest rates by 0.25% to 4.25%. ECB President Christine Lagarde aims to achieve a 2% inflation target in the medium term. ECB member Fabio Panetta supports keeping higher interest rates for a while, balancing inflation risks with a weak economy to support growth.

These decisions can impact borrowing costs, savings, and overall economic conditions in the eurozone. The rate hike may attract investors to the Euro due to higher returns, potentially strengthening the currency against the US Dollar and appreciating the EUR/USD pair. Notably, the ECB's goal is to manage inflation and support economic growth in the eurozone.

Recent Economic Data Highlights Mixed Picture of Eurozone's Economy

According to recent data, Germany's Factory Orders have shown positive growth, increasing by 3.0% YoY and 7.0% monthly, signaling strength in the manufacturing sector. However, the Eurozone's Producer Price Index (PPI) for June dropped to its lowest level in three years, showing a decline of -3.4% YoY. Additionally, the HCOB Composite PMI for the bloc fell from 48.9 to 48.6, and the services PMI declined from 51.1 to 50.9 in July. These figures present a mixed picture of the Eurozone's economy, with signs of improvement in manufacturing but challenges in other sectors.

Impact of Upcoming US Data on USD and EUR/USD Pair

Looking forward, traders are awaiting the release of US wage inflation and employment data, which will likely influence the Federal Reserve's decisions on rate hikes. These decisions will have a direct impact on the US Dollar's performance and may exert pressure on the EUR/USD pair. Moreover, the focus will be on key indicators like Nonfarm Payrolls, Unemployment Rate, and Average Hourly Earnings, providing trading opportunities for those interested in the EUR/USD pair.

EUR/USD - Technical Analysis

EUR/USD continues its intriguing journey as it tests the crucial resistance level at 1.0955. Despite its efforts to breach this pivotal point, the pair has managed to hold on below it, keeping the downward trend intact. Traders eagerly await the next move, with potential targets at 1.0880 and 1.0835, making for an exciting market outlook.

Adding to the intrigue, the Stochastic indicator has lost its positive momentum and entered overbought territory, providing further support for the resumption of the downward trend. However, it's important to keep an eye on potential game-changers – a breakthrough of 1.0955, followed by 1.0990, could effectively thwart the negative scenario and redirect prices towards the main upward trend.

As we gear up for today's trading, the anticipated range stands between the support level of 1.0850 and the resistance level of 1.1000. The excitement builds as we navigate the potential twists and turns of the market!

Daily Price Outlook

The EUR/USD currency pair is still going down, making it the fourth day in a row that it's been falling. On Thursday, the pair is hovering very close to its lowest point since July 7th. However, the main reason for this ongoing fall can be attributed to the fact that a lot of people in the market expect the Federal Reserve (Fed) to raise interest rates soon. This expectation has made the US Dollar (USD) worth more, reaching its highest value in four weeks. All these things combined are making it hard for the EUR/USD pair to recover and go up again.

Fed's Influence and Dollar's Resilience

The US Dollar is still doing well and is close to its highest value in four weeks compared to the Euro. This is happening because many people expect the Federal Reserve to make its rules stricter. This is influenced by the good news about jobs in the US, like the recent ADP jobs report, which shows that the economy is strong. As a result, the Fed might keep interest rates higher for a longer time. This confidence makes the interest rates on US government bonds go up, which helps the Dollar.

When they do that, the interest rates on US government bonds stay high too, which helps the Dollar stay strong. As a result, the exchange rate between the Euro and the US Dollar (EUR/USD) is feeling pressure because the strong Dollar makes it more expensive to buy Euros.

ECB's Uncertainty and Data-Driven Approach: Potential Impact on EUR/USD Pair

ECB President Christine Lagarde recently mentioned in an interview with Le Figaro that no decisions have been finalized for the upcoming September 14 meeting. She highlighted that the central bank's actions will depend on the latest economic and financial data. This follows the Euro Zone's headline inflation slowing to 5.3% YoY in July from 5.5% before, though core inflation remained steady at 5.5%.

This uncertainty and data-driven approach could impact the EUR/USD pair, potentially adding to its ongoing fluctuations as traders assess the ECB's upcoming moves based on economic indicators.

EUR/USD - Technical Analysis

EUR/USD has successfully reached its first negative target at 1.0935, and there are indications of further downward movement in the upcoming sessions, potentially leading to the next significant target at 1.0835.

As we closely monitor the intraday levels, the 50 SMA is exerting negative pressure on the pair. However, there is a possibility of a potential reversal if EUR/USD manages to pierce through the resistance levels at 1.0955 and 1.0990, effectively halting the current downward trend and steering the pair back into the ascending channel.

For today's trading, we anticipate the EUR/USD to move within the trading range of support at 1.0840 and resistance at 1.1000. As per our analysis, the expected trend for today remains bearish.

Daily Price Outlook

EUR/USD has successfully reached its first negative target at 1.0935, and there are indications of further downward movement in the upcoming sessions, potentially leading to the next significant target at 1.0835.

As we closely monitor the intraday levels, the 50 SMA is exerting negative pressure on the pair. However, there is a possibility of a potential reversal if EUR/USD manages to pierce through the resistance levels at 1.0955 and 1.0990, effectively halting the current downward trend and steering the pair back into the ascending channel.

For today's trading, we anticipate the EUR/USD to move within the trading range of support at 1.0840 and resistance at 1.1000. As per our analysis, the expected trend for today remains bearish.

EUR/USD - Trade Idea

Entry Price – Sell Below 1.09495

Take Profit – 1.08757

Stop Loss – 1.10182

Risk to Reward – 1: 1

Profit & Loss Per Standard Lot = +$738/ -$687

Profit & Loss Per Micro Lot = +$73/ -$68

Daily Price Outlook

The EUR/USD currency pair failed to stop its losing streak and experienced selling pressure as it approached the psychological resistance level of 1.1000 during the Asian session. Investors became cautious ahead of the release of United States labor market data, which will be published at 12:15 GMT. Moreover, the significant losses in S&P500 futures added to the overall cautious sentiment among investors. This apprehensive sentiment can be attributed to the recent downgrade of the United States economy by credit rating firm FITCH from 'AAA' to 'AA+'

US Dollar Index Bounces Back Despite Weak Economic Indicators

Despite the downgrade in the US economy, the US Dollar Index (DXY) bounced back after a slight dip and reached around 102.00. This surprising recovery happened even though there were disappointing economic data. US Job Openings data, which came in at 9.582 million, fell short of the previous release of 9.62 million, suggesting a potential slowdown in hiring. Furthermore, the US Manufacturing PMI contracted for the ninth month in a row, recording 46.4, lower than the expected 46.8. However, Factory Orders performed better than expected at 47.3, surpassing the forecasted 44.0.

Hence, the disappointing US economic data and the surprising rebound in the US Dollar Index (DXY) may put downward pressure on the EUR/USD currency pair.

Eyes on US Employment Data and Eurozone Inflationary Pressures

Looking forward to this Wednesday, the spotlight is on the US Employment data from ADP. Experts anticipate a slower increase of 188,000 private payrolls following June's surprising surge of 497,000 new jobs. On the other side, the Eurozone witnessed a 0.1% drop in inflation for July. However, the impressive GDP performance during the April-June quarter may prompt the ECB to consider raising interest rates.

Investors are eagerly awaiting the Retail Sales data later this week, as strong consumer spending momentum could fuel hawkish expectations for the ECB. All these factors will be closely monitored as they impact the global financial landscape.

Thus, the US Employment data and potential interest rate changes by the ECB may influence the EUR/USD currency pair, with positive US data possibly strengthening the USD against the EUR.

EUR/USD - Technical Analysis

In a captivating turn of events, EUR/USD has made a remarkable rebound, finding sturdy support in the medium-term upward trend line and the 50-day SMA. This surge in positive momentum has lifted the pair to new heights in early trading today, following its recent pursuit to discover a bottom.

Adding to the thrill, the RSI's favorable signals, after a daring venture into oversold territory, are now doubling down on the positive pressures, setting the stage for an exhilarating ride in the upcoming trading sessions.

As we buckle up for this thrilling journey, all eyes are on the target - the initial resistance at 1.1130. But, hold on tight, as this thrilling ascent is contingent upon the pivotal support level of 1.0970 holding firm.

The adventure doesn't end there! The projected trading range for today promises heart-racing action between the support level of 1.0865 and the resistance level of 1.1130.

Today's price prediction reads like a thrilling plot twist - it leans bullish! Traders are in for an adrenaline-pumping experience as they closely observe the price action and devise their trading strategies for EUR/USD.

Daily Price Outlook

In a captivating turn of events, EUR/USD has made a remarkable rebound, finding sturdy support in the medium-term upward trend line and the 50-day SMA. This surge in positive momentum has lifted the pair to new heights in early trading today, following its recent pursuit to discover a bottom.

Adding to the thrill, the RSI's favorable signals, after a daring venture into oversold territory, are now doubling down on the positive pressures, setting the stage for an exhilarating ride in the upcoming trading sessions.

As we buckle up for this thrilling journey, all eyes are on the target - the initial resistance at 1.1130. But, hold on tight, as this thrilling ascent is contingent upon the pivotal support level of 1.0970 holding firm.

The adventure doesn't end there! The projected trading range for today promises heart-racing action between the support level of 1.0865 and the resistance level of 1.1130.

Today's price prediction reads like a thrilling plot twist - it leans bullish! Traders are in for an adrenaline-pumping experience as they closely observe the price action and devise their trading strategies for EUR/USD.

EUR/USD - Trade Idea

Entry Price – Buy Above 1.09487

Take Profit – 1.11015

Stop Loss – 1.08594

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$1528/ -$893

Daily Price Outlook

The EUR/USD pair is currently at an intriguing juncture as it approaches the crucial resistance level at 1.1055. Interestingly, we observe a calm decline from this resistance point, and the pair is now hovering near the primary support line of a bullish channel.

Adding to the excitement, the chart reveals the price staying below the neckline of a double top pattern, while the EMA50 exerts its influence with negative pressure. Moreover, the stochastic indicator is signaling a negative overlap, adding further intrigue to the mix.

In light of these compelling factors, our forecast leans towards a bearish bias in the upcoming trading sessions. This prompts us to set our initial targets on breaking the support line of the bullish channel.

Should this support be breached, it may potentially pave the way for further declines, with potential targets at 1.0935, followed by 1.0835 once the previous level is surpassed.

However, we must remain alert to the possibility of a game-changer, as breaching the 1.1055 resistance level would invalidate the bearish scenario, leading the price to potentially resume its main bullish trajectory, and setting sights on the 1.1170 areas as the initial target.

Today's trading session promises excitement within the range of 1.0920 support and 1.1070 resistance, keeping traders on their toes and providing ample opportunities for strategic moves.

EUR/USD - Trade Idea

Entry Price – Sell Limit 1.10382

Take Profit – 1.09503

Stop Loss – 1.10958

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$879/ -$576

Profit & Loss Per Micro Lot = +$87/ -$57

Daily Price Outlook

The EUR/USD currency pair is still facing challenges as it struggles to maintain its position above the 1.1000 mark on Tuesday. However, this decline can be attributed to fresh hints from the European Central Bank (ECB) President Christine Lagarde about a possible pause in interest rate hikes in September. Although the ECB recently raised rates by 25 basis points to 4.25%, there are signs of easing inflationary pressures and growing concerns about a recession.

Market players are anxiously waiting for the US Manufacturing Purchasing Managers Index (PMI) data, as it could provide fresh insights and influence the market's direction. The pair's downward trend continues, keeping the market uncertain.

Mixed Economic Data from Europe and the US Impact EUR/USD

Furthermore, the previosly released economic data from Europe and the US is also impacting the EUR/USD pair. In the Eurozone, the Core Harmonized Index of Consumer Prices (HICP) for July rose by 5.5% YoY and 5.3% for the headline CPI. In the meantime, the flash Q2 Eurozone Gross Domestic Product (GDP) expanded by 0.3% QoQ and 0.6% YoY. German Retail Sales for June increased by 1.6% YoY, but the monthly figure fell by -0.8%, worse than expected.

In the US, the PCE Price Index for June grew at a slower rate of 3% compared to May's 3.8%. Despite these mixed indicators, the US Dollar remains strong, which was seen as another key factor that kept the EUR/USD currency pair under pressure.

Market Focus on Upcoming Economic Data

Looking forward, the market participants are monitoring the global Manufacturing PMI data and the German Unemployment rate for June. However, the upcoming US Nonfarm Payrolls report, scheduled for Friday, will be a significant highlight of the week.

The focus on these crucial economic data releases in both the US and Europe will put the data-dependent approach of the Federal Reserve and the European Central Bank (ECB) to the test when making decisions on interest rates.

EUR/USD - Technical Analysis

The EUR/USD pair is currently at an intriguing juncture as it approaches the crucial resistance level at 1.1055. Interestingly, we observe a calm decline from this resistance point, and the pair is now hovering near the primary support line of a bullish channel.

Adding to the excitement, the chart reveals the price staying below the neckline of a double top pattern, while the EMA50 exerts its influence with negative pressure. Moreover, the stochastic indicator is signaling a negative overlap, adding further intrigue to the mix.

In light of these compelling factors, our forecast leans towards a bearish bias in the upcoming trading sessions. This prompts us to set our initial targets on breaking the support line of the bullish channel.

Should this support be breached, it may potentially pave the way for further declines, with potential targets at 1.0935, followed by 1.0835 once the previous level is surpassed.

However, we must remain alert to the possibility of a game-changer, as breaching the 1.1055 resistance level would invalidate the bearish scenario, leading the price to potentially resume its main bullish trajectory, and setting sights on the 1.1170 areas as the initial target.

Today's trading session promises excitement within the range of 1.0920 support and 1.1070 resistance, keeping traders on their toes and providing ample opportunities for strategic moves.

Daily Price Outlook

The EUR/USD pair has approached a significant resistance level at 1.1055 and is now experiencing a gradual decline, moving closer to the main bullish channel's support line. Notably, the price remains below the neckline of a double top pattern, which is visible on the chart.

Additionally, the EMA50 is exerting downward pressure on the price, and the stochastic indicator is currently showing negative overlap.

Considering these factors, it is prudent to adopt a bearish bias for the upcoming sessions. The initial targets for the bearish scenario involve breaking below the bullish channel's support line, potentially leading to further declines towards 1.0935 and 1.0835 levels upon surpassing the previous level of support.

However, a breach of the key resistance level at 1.1055 would invalidate the bearish scenario and signal a potential resumption of the main bullish trend, with potential targets around the 1.1170 areas initially.

For today's trading, the projected range is expected to lie between the support level at 1.0920 and the resistance level at 1.1070.

 EUR/USD - Trade Idea

Entry Price – Sell Limit 1.10653

Take Profit – 1.09503

Stop Loss – 1.11643

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$1150/ -$990

Profit & Loss Per Micro Lot = +$115/ -$99

Daily Price Outlook

During the early Asian session on Monday, the EUR/USD pair experienced some buying interest, leading to a slight positive movement near 1.1025. This recovery comes after two weeks of losses and was supported by softer US data, as well as recent remarks from ECB officials and Federal Reserve policymakers.

ECB President Christine Lagarde referred to the recent economic output figures from France, Germany, and Spain as "quite optimistic" in an interview with French newspaper Le Figaro over the weekend.

Joachim Nagel, president of the Bundesbank of Germany and an ECB Governing Council member, also supported hawkish ECB policies, citing persistent core inflation and advocating for higher interest rates to be maintained for a longer period.

Conversely, Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, expressed concerns about job losses and weaker growth, while acknowledging the inflation forecast. He also questioned the central bank's aggressive monetary tightening program to control price increases.

News reports suggesting further Chinese stimulus are putting pressure on the US Dollar, allowing the EUR/USD pair to recover from a three-week low on Friday, despite recent losses.

The US Federal Reserve's preferred inflation indicator, the Core Personal Consumption Expenditure (PCE) Price Index, showed weaker-than-expected readings for June, easing to 4.1% YoY, below the predicted 4.2% and the previous 4.6%.

Additionally, Personal Income decreased to 0.3%, falling short of the expected 0.5% and previous readings, while Personal Spending increased by 0.5%, surpassing market expectations of 0.4% and the earlier 0.1%. Moreover, the final readings of the Michigan Consumer Sentiment Index for July declined from the initial estimate of 72.6 to 71.6, and the University of Michigan's (UoM) 5-year Consumer Inflation expectations also decreased from 3.1% to 3.0%.

EUR/USD - Technical Analysis

The EUR/USD pair has approached a significant resistance level at 1.1055 and is now experiencing a gradual decline, moving closer to the main bullish channel's support line. Notably, the price remains below the neckline of a double top pattern, which is visible on the chart.

Additionally, the EMA50 is exerting downward pressure on the price, and the stochastic indicator is currently showing negative overlap.

Considering these factors, it is prudent to adopt a bearish bias for the upcoming sessions. The initial targets for the bearish scenario involve breaking below the bullish channel's support line, potentially leading to further declines towards 1.0935 and 1.0835 levels upon surpassing the previous level of support.

However, a breach of the key resistance level at 1.1055 would invalidate the bearish scenario and signal a potential resumption of the main bullish trend, with potential targets around the 1.1170 areas initially.

For today's trading, the projected range is expected to lie between the support level at 1.0920 and the resistance level at 1.1070.