- EUR / USD Sunday forecast shows a jump in the dollar.
- Greenback fell in anticipation of the rate that is Fed.
- Powell noted that employment risks increased.
EUR / USD Sunday forecast shows weakness while the US dollar recovers the country after the FED price is reduced, because the impact was already at the price.
UPS and Devices EUR / USD
EUR / USD pair I had a bull Sunday, but he closed well under his hosts as the dollar ended the strong week. At the beginning of the week, Greenback fell in anticipation of the Fed Course. As a result, EUR / USD has acquired. However, the trend soon switched after food meeting.
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Criovo’s politics voted for lower borrowing costs as expected. Moreover, they noticed that employment risks increased. However, the Central Bank will also continue to oversee the risks of inflation. Since there were several surprises, the dollar has recovered from its lowest, sending the euros / USD below.
Key events next week for EUR / USD
Next week, now will free your GDP and durable reports on the order of goods. These figures will indicate how the economy and growth are performed and will continue to influence the prospects for reducing the rates of the feedback rates.
So far, it is just a labor market that has shown significant weakness. The softness in other sectors of the economy would increase the pressure on the Fed at lower borrowing costs. On the other hand, the Upbeat reports made the concern about the state of the economy easier.
EUR / USD Sunday Technical forecast: Poorer Bikarski Swing, RSI Divergence
On the technical side, EUR / USD price is pulled back to re-set the 22 SMA support line after it has made a new high. However, since it is still above SMA, and RSI is over 50 years old, the bicovna bias is strong. At the same time, the price trades in the cycling channel with clear lines of support and resistance.
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The pause below the SMA would be appreciated to restart the channel support before or broken below or bouncing. On the other hand, if it keeps the company, the price will bounce higher, probably breaking over 1,2005.
In the meantime, although the bias of the bull and the price was made higher and low, the RSI made lower. Therefore, there is a bear divergence, a sign that the request is fading. This could give the worn upper hand if the bulls do not regain swing.
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