⚡️ EURUSD Outlook for week 40
Diupdate
⚡️ EUR/USD trades at 1.0572, registering marginal gains of 0.06%, as softer German inflation data and US government shutdown fears impact prices. US Core PCE data reveals a 3.9% YoY increase, below the expected 4%, diminishing chances for a November rate hike by the US Federal Reserve.
⚡️ A daily close below the 1.0600 mark for EUR/USD could see the pair extending its losses towards the November 30, 2022, swing low at 1.0290.The EUR/USD clings to its early gains after traveling towards a daily high of 1.0617 but offers dragged prices below the 1.0600 mark. This happened despite data from the United States (US) diminishing the chances for a November rate hike by the US Federal Reserve (Fed)
⚡️ The US Bureau of Economic Analysis (BEA) revealed the latest inflation report, preferred by the Fed, as the Core Personal Consumption Expenditures (PCE), which excludes volatile items rose by 3.9% YoY, below July’s 4%. The same report showed that headline inflation stood at 3.5%.
⚡️ The H4 chart shows that the price line is operating stably below the EMA, the relative strength index (RSI) is stable, the main trend is still down.
⚡️Psychology, discipline and capital management are the three factors that make victory possible.⚡️
⚡️ A daily close below the 1.0600 mark for EUR/USD could see the pair extending its losses towards the November 30, 2022, swing low at 1.0290.The EUR/USD clings to its early gains after traveling towards a daily high of 1.0617 but offers dragged prices below the 1.0600 mark. This happened despite data from the United States (US) diminishing the chances for a November rate hike by the US Federal Reserve (Fed)
⚡️ The US Bureau of Economic Analysis (BEA) revealed the latest inflation report, preferred by the Fed, as the Core Personal Consumption Expenditures (PCE), which excludes volatile items rose by 3.9% YoY, below July’s 4%. The same report showed that headline inflation stood at 3.5%.
⚡️ The H4 chart shows that the price line is operating stably below the EMA, the relative strength index (RSI) is stable, the main trend is still down.
⚡️Psychology, discipline and capital management are the three factors that make victory possible.⚡️
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⚡️ The Euro succumbs to further US Dollar’s strength. Stocks in Europe open Tuesday’s session on the defensive. EUR/USD retreats to new 2023 lows around 1.0460.
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