Hey Traders, in tomorrow's trading session we are monitoring EURUSD for a selling opportunity around 1.07900 zone, EURUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.07900 support and resistance area.
Additionally, the recent CPI data in the US revealed a stronger-than-expected core inflation of 0.4%, surpassing the 0.3% expected figure. This unexpected surge in inflationary pressures has significantly reduced the likelihood of the Federal Reserve implementing a rate cut next month, thereby bolstering the strength of the US dollar. As a result, the EURUSD pair may face downward pressure as investors flock to the USD amid expectations of a more hawkish monetary policy stance by the Fed.
furthermore, European Central Bank President Christine Lagarde's recent indication of a potential rate cut has heightened concerns among investors regarding the economic outlook for the Eurozone. Lagarde's statement suggesting a likely rate cut reflects the ECB's cautious stance amidst persisting challenges to economic recovery, including inflationary pressures and geopolitical uncertainties. The prospect of lower interest rates has dampened investor sentiment towards the Euro, as it signals a dovish monetary policy trajectory by the ECB. Consequently, this affirmation may exert further downward pressure on the EURUSD pair as market participants adjust their positions in anticipation of looser monetary policy measures in the Eurozone.
Trade safe, Joe.
Additionally, the recent CPI data in the US revealed a stronger-than-expected core inflation of 0.4%, surpassing the 0.3% expected figure. This unexpected surge in inflationary pressures has significantly reduced the likelihood of the Federal Reserve implementing a rate cut next month, thereby bolstering the strength of the US dollar. As a result, the EURUSD pair may face downward pressure as investors flock to the USD amid expectations of a more hawkish monetary policy stance by the Fed.
furthermore, European Central Bank President Christine Lagarde's recent indication of a potential rate cut has heightened concerns among investors regarding the economic outlook for the Eurozone. Lagarde's statement suggesting a likely rate cut reflects the ECB's cautious stance amidst persisting challenges to economic recovery, including inflationary pressures and geopolitical uncertainties. The prospect of lower interest rates has dampened investor sentiment towards the Euro, as it signals a dovish monetary policy trajectory by the ECB. Consequently, this affirmation may exert further downward pressure on the EURUSD pair as market participants adjust their positions in anticipation of looser monetary policy measures in the Eurozone.
Trade safe, Joe.
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We got a decent rejection of the trend, let's see where it will take us!
We got a decent rejection of the trend, let's see where it will take us!
评论:
it's testing the resistance area again!
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