Euro / DollaroLong
EURUSD Potential Forecast | 17th April 2023
Fundamental Backdrop
1. Red news today like the Empire State Manufacturing Index could potentially result in a pullback for EURUSD before heading bullish again.
2. Market sentiments continue to favour the EUR against the USD given the potential interest rate differential between the 2 currencies.
3. Furthermore, USD economic data has been relatively soft and showcasing signs that inflation is slowing down significantly, which is a bullish driver of EURUSD.
Technical Confluences
1. H4 support at 1.08764.
2. EURUSD continues to be on a bullish uptrend.
3. Structure has most recently broken.
Idea
Anticipate a pullback and for price to potentially head higher to retest 1.1076.
1. Red news today like the Empire State Manufacturing Index could potentially result in a pullback for EURUSD before heading bullish again.
2. Market sentiments continue to favour the EUR against the USD given the potential interest rate differential between the 2 currencies.
3. Furthermore, USD economic data has been relatively soft and showcasing signs that inflation is slowing down significantly, which is a bullish driver of EURUSD.
Technical Confluences
1. H4 support at 1.08764.
2. EURUSD continues to be on a bullish uptrend.
3. Structure has most recently broken.
Idea
Anticipate a pullback and for price to potentially head higher to retest 1.1076.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.