Weekly Analysis EUR/USD -100 pips
Good morning traders and happy week,
This week is clearly complicated due mainly to the fundamental news of the dollar and also by a lateralization that does not allow us to see a clear trend.
For more analyses like this do not hesitate to write to me, I will answer your doubts.
-Technical analysis
For the technical analysis we can see that the last two weeks the price comes from almost the same point, 1.1837 , similarly if we look beyond the last two weeks we find ourselves in a wider horizontal channel, but with the same effects when operating.
As technical indicators I see a long-term trend change and it is not as clear the possible rise of eur/usd to 1.3 and up as in previous weeks.
For minor temporalities such as daily or hours you see nothing while weekly for the third consecutive time indicates a clear sale, although given the channel can return to 1.1760 to climb again clearly.
-Fundamental analysis
This week is tremendously complicated as there are several events that rarely occur in the USA and that will certainly generate high volatility (if not enough).
The week Powell, president of the FED, gave a speech and this week both Monday and Tuesday he will speak, that is unusual and may have to do with his inflationary and employment speech in the United States. Be careful there will be huge volatility.
On Tuesday in addition to the speech we find the housing sales data and if the forecasts are met, its increase is a clear improvement in the US economy.
If on Monday and Tuesday they were not important enough for the eur/usd, on Wednesday there are manufacturing PMIs from both the Eurozone and the United States, if forecasts are met and both are positive it is difficult to assess which of the two currencies will benefit the most.
On Thursday it remains important because of the news brought, on the one hand, by Germany's business confidence, IFO, which usually moves many pips to the opening of London and on the other hand already opened the American market, requests for unemployment benefit in the United States, if they go as expected the reduction is very small and may even be negative for the dollar.
In conclusion, this week is not at all clear the fundamental picture and there will be excessive volatility, considering that the technical analysis tells us that there will be a drop, the best thing this week is to look for a good entry point and not be in a hurry to trade. I estimate that making a couple of good sales you can get 100 pips easily.
Keep an eye on comentaries for the entrance.
For more analyses like this do not hesitate to write to me, I will answer your doubts.
This week is clearly complicated due mainly to the fundamental news of the dollar and also by a lateralization that does not allow us to see a clear trend.
For more analyses like this do not hesitate to write to me, I will answer your doubts.
-Technical analysis
For the technical analysis we can see that the last two weeks the price comes from almost the same point, 1.1837 , similarly if we look beyond the last two weeks we find ourselves in a wider horizontal channel, but with the same effects when operating.
As technical indicators I see a long-term trend change and it is not as clear the possible rise of eur/usd to 1.3 and up as in previous weeks.
For minor temporalities such as daily or hours you see nothing while weekly for the third consecutive time indicates a clear sale, although given the channel can return to 1.1760 to climb again clearly.
-Fundamental analysis
This week is tremendously complicated as there are several events that rarely occur in the USA and that will certainly generate high volatility (if not enough).
The week Powell, president of the FED, gave a speech and this week both Monday and Tuesday he will speak, that is unusual and may have to do with his inflationary and employment speech in the United States. Be careful there will be huge volatility.
On Tuesday in addition to the speech we find the housing sales data and if the forecasts are met, its increase is a clear improvement in the US economy.
If on Monday and Tuesday they were not important enough for the eur/usd, on Wednesday there are manufacturing PMIs from both the Eurozone and the United States, if forecasts are met and both are positive it is difficult to assess which of the two currencies will benefit the most.
On Thursday it remains important because of the news brought, on the one hand, by Germany's business confidence, IFO, which usually moves many pips to the opening of London and on the other hand already opened the American market, requests for unemployment benefit in the United States, if they go as expected the reduction is very small and may even be negative for the dollar.
In conclusion, this week is not at all clear the fundamental picture and there will be excessive volatility, considering that the technical analysis tells us that there will be a drop, the best thing this week is to look for a good entry point and not be in a hurry to trade. I estimate that making a couple of good sales you can get 100 pips easily.
Keep an eye on comentaries for the entrance.
For more analyses like this do not hesitate to write to me, I will answer your doubts.
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Buena caza!
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