sebking1986
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FOMC and Fed rate decision will play a major role in direction. I think we could see DXY push up further.
EURUSD Analysis (ongoing thread)
- Thread starter ForexViking
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and CPI figures out on Wednesday this week could see it push higher again
Glastonburyk
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Looking bearish from here mate
I agree, DXY is taking out so much selling liquidity it was so bearish for so long through covid it was due this push
ForexViking
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EURUSD 20/05/2022 - weekly analysis.
Can see us hitting consolidation or a drop unless we hit a curve ball. Volatility and volume are up.
Currently at the 1.05 and looks like we’ve settled bellow lower trend line but sideways movement through the trend wouldn’t make me bullish.
For me a break and settle above 1.06 would make me bullish bit more likely to go sideways to hit 1.06 or a drop through 1.04.
Fundamental points going forward:
- “Comments from European Central Bank (ECB) officials failed to help the euro on Wednesday as the sharp decline witnessed in global equity indexes allowed safe-haven flows to dominate the financial markets.”
- “In case the ECB statement suggests that policymakers see the need for successive rate hikes amid inflation fears, the pair could regain its traction. “
- “Risk perception should remain the primary driver of the pair's action. The US economic docket will feature the weekly Initial Jobless Claims and the Federal Reserve Bank of Philadelphia's Manufacturing Survey. Unless these data trigger a rebound in US stocks, the greenback should manage to preserve its strength.”
ECB speech of Friday is one to watch, can’t see any call for upside.
Where do you think EURUSD is going?
Can see us hitting consolidation or a drop unless we hit a curve ball. Volatility and volume are up.
Currently at the 1.05 and looks like we’ve settled bellow lower trend line but sideways movement through the trend wouldn’t make me bullish.
For me a break and settle above 1.06 would make me bullish bit more likely to go sideways to hit 1.06 or a drop through 1.04.
Fundamental points going forward:
- “Comments from European Central Bank (ECB) officials failed to help the euro on Wednesday as the sharp decline witnessed in global equity indexes allowed safe-haven flows to dominate the financial markets.”
- “In case the ECB statement suggests that policymakers see the need for successive rate hikes amid inflation fears, the pair could regain its traction. “
- “Risk perception should remain the primary driver of the pair's action. The US economic docket will feature the weekly Initial Jobless Claims and the Federal Reserve Bank of Philadelphia's Manufacturing Survey. Unless these data trigger a rebound in US stocks, the greenback should manage to preserve its strength.”
ECB speech of Friday is one to watch, can’t see any call for upside.
Where do you think EURUSD is going?
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