Technical analysis
Elliot Wave Theory perspective - the price is in a small corrective uptrend, as marked in the chart. Don't get too hyped on this and remember, the market is unpredictable, but for now I will mark this as LONG, for a short time.
On the 30-minute chart, the EUR/USD currency pair is currently trading in a range between 1.0685 and 1.0695. The 200-period moving average is acting as support at 1.0685, while the 50-period moving average is acting as resistance at 1.0695.
On the 4-hour chart, the EUR/USD currency pair is trading in a downward trend. The price is below the 200-period moving average, and the MACD indicator is showing a bearish crossover.
On the daily chart, the EUR/USD currency pair is also trading in a downward trend. The price is below the 200-period moving average, and the MACD indicator is showing a bearish crossover.
Overall, the technical outlook for the EUR/USD currency pair is bearish. The price is trading in a downward trend on all three timeframes, and the technical indicators are showing bearish signals.
Conclusion:
The fundamental and technical outlook for the EUR/USD currency pair is mixed. The US economy is performing better than the Eurozone economy, but the Fed is also expected to raise interest rates more aggressively than the ECB. This could lead to a weaker EUR/USD in the coming months.
I hope this post is helpful.
This analysis represents my thoughts at the date it is posted.
This analysis does not represent professional and/or financial advice.
You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information.
Any feedback is encouraged and appreciated. Thank you and have a nice day!
Elliot Wave Theory perspective - the price is in a small corrective uptrend, as marked in the chart. Don't get too hyped on this and remember, the market is unpredictable, but for now I will mark this as LONG, for a short time.
On the 30-minute chart, the EUR/USD currency pair is currently trading in a range between 1.0685 and 1.0695. The 200-period moving average is acting as support at 1.0685, while the 50-period moving average is acting as resistance at 1.0695.
On the 4-hour chart, the EUR/USD currency pair is trading in a downward trend. The price is below the 200-period moving average, and the MACD indicator is showing a bearish crossover.
On the daily chart, the EUR/USD currency pair is also trading in a downward trend. The price is below the 200-period moving average, and the MACD indicator is showing a bearish crossover.
Overall, the technical outlook for the EUR/USD currency pair is bearish. The price is trading in a downward trend on all three timeframes, and the technical indicators are showing bearish signals.
Conclusion:
The fundamental and technical outlook for the EUR/USD currency pair is mixed. The US economy is performing better than the Eurozone economy, but the Fed is also expected to raise interest rates more aggressively than the ECB. This could lead to a weaker EUR/USD in the coming months.
I hope this post is helpful.
This analysis represents my thoughts at the date it is posted.
This analysis does not represent professional and/or financial advice.
You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information.
Any feedback is encouraged and appreciated. Thank you and have a nice day!
I hope this was helpful.
This analysis represents my thoughts at the date it is posted.
This analysis does not represent professional and/or financial advice.
Trade wisely!
ymagnify.com/
This analysis represents my thoughts at the date it is posted.
This analysis does not represent professional and/or financial advice.
Trade wisely!
ymagnify.com/
