- Analytics
- News and Tools
- Market News
- EURUSD Price Analysis: Bears getting set for a fade above last week's highs
EURUSD Price Analysis: Bears getting set for a fade above last week's highs
- EURUSD will depend on the US yields following this week's CPI.
- For now, the Euro is breaking last week's structure with eyes on last month's highs.
EURUSD has moved up in the New York session as the greenback sinks some more for the month to a fresh low at 110.14. This has sent the euro through last week's highs with last month's high, 1.0093, now on the radar as the following analysis will illustrate.
EURUSD H1 chart
However, given the steep rise in the euro and the number of imbalances of price left behind, there are prospects of a move to the backside of the trendline for the immediate future. A break below 0.9975 could set off a cascade of stops into 0.9925. This would be the last defence for a move all the way back towards 0.9800.
Meanwhile, all will come down to this week's inflation data from the US. Currently, the markets are of the mind that the US economy is slowing enough to allow the Federal Reserve to ease its rate-hiking pace and the ongoing speculation that China may ease COVID restrictions.
In this regard, the US 10-year yields will be an important feature in markets for the week ahead:
A break back into the trendline would be expected to see the US dollar rise and weigh on the euro.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
