MohamedElsodoody

EUR/USD further downtrend or a reversal?

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MohamedElsodoody 已更新   
FX:EURUSD   欧元/美元
In this post I will mention how strong shall be the downtrend in price action according to the new fundamentals

FUNDAMENTAL KEY QUOTES

1- Germany warned it needed to keep up the pace to stave off the delta variant.
2- Italy wants more stimulus to get European growth back to pre pandemic levels, imposes quarantine on U.K. tourists in blow to economy.
3- Germany aims to borrow about 100 billion euros in additional funds next year roughly a quarter more than its previous target.
4- U.S. hospitals have reported a rise in lung transplants for sever coronavirus cases according to one of the country's top medical centers.
5- EU wants to bring back EU budget rules that were suspended when coronavirus hit, bad news for highly indebted countries like Italy.
6- (HAWKISH FED, TAPERING TALK, U.S. CALENDAR UPBEAT DATA), (DOVISH ECB, EXTENDED PEPP, BOND BUYING PROGRAM UNCHANGED).

How strong shall be the downtrend? What price action to expect ahead?

- AS AN UPDATE TO MY PREVIOUS POST, IT IS CLEAR THAT FUNDAMENTALS GATHER TO GIVE MORE STRENGTH TO THE DOWNTREND AND PUSH FOR EUR FURTHER WEAKNESS, I WOULD SAY THAT ACCORDING TO RECENT FUNDAMENTALS THE EUR IS AT RISK FOR MORE WEAKNESS, NEW PRICE RANGE (1.1850-1.1700), I WOULD SAY THERE IS A LOW EXPECTED CHANCE BUT POSSIBLE TO VISIT 1.1650, IT JUST NEEDS CALENDAR DATA CONFIRMATION ,AND ACCORDINGLY THE RECENT PRICE IS CONSIDERED TO BE GOOD SELLING OPPORTUNITY , PRICE IS NOT EXPECTED TO BREAK ABOVE 1.1900 THIS WEEK, ON THE CONTRARY PRICE IS EXPECTED TO BREAK BELOW 1.1850 WITHIN TODAY AND HEAD MORE SOUTH.

- THIS PICTURE REMAINS ONLY TILL UPCOMING NEWS AND DATA THAT MAY CHANGE THE PRICE RANGE, SO I WILL UPDATE ACCORDINGLY -
评论:
THERE IS A SMALL CHANCE THAT INVESTORS WOULD WANT TO HOLD THE EXCHANGE RATE OF 1.19-1.18 THIS WEEK (1.1950-1.1750) WHICH MEANS IN THE OVERALL CASE YES BREAKING ABOVE 1.1900 IS NOT EXPECTED BUT STILL POSSIBLE, WHAT IS NOT POSSIBLE TO BREAK ABOVE IS THE 1.1950 RESISTANCE.
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