Check out this week's Pairs in Focus: Forex Trading Forecast Profit
recovered a bit during the previous week, after dropping quite drastically. Because of this, it does make a certain amount of sense that we will have to pay close attention to this next week, and the Federal Reserve meeting. After all, this pair is highly sensitive to the interest rate markets, as the Bank of Japan continues to do whatever it can to keep interest rates down.EUR/USD
has had a very noisy week, as we continue to struggle with the idea of breaking out above the 1.06 level. This is not a huge surprise, because we have the Federal Reserve meeting on Wednesday, followed by the European Central Bank meeting on Thursday. Because of this, it’s likely that the next week will be very choppy and back and forth, at least until we get through all of that. I would best describe this market as “neutral” at the moment.
If we break down below the bottom of this uptrend line, that could open up the possibility of a move to the 0.66 level, and then possibly down to the 0.65 level. On the other hand, if we take out the 50-Week EMA above, then the Aussie almost certainly will go looking to the 0.70 level.has had a positive week, as we continue to grind higher. At this point, the pattern is very clear in this pair, you are looking for dips that you can buy on shorter time frames.
That being said, this is probably going to be highly influenced by the overall directionality of the US dollar, so pay attention to other markets to give you a little bit of a “heads-up” as to how this one plays out.initially tried to recover during the week but gave back quite a bit of the gain to show signs of hesitation. This is a market that has been oversold for quite some time, so having said that it’s a look that suggests that we are going to continue to see negativity.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Latest line: A good week for Big Labor, a bad week for Ray J. GarciaUnions win key vote to curb new San Jose mayor’s power, as a Dublin prison warden is headed up the river
Read more »
The week ahead in college basketball: North Florida at Pittsburgh top game in light weekA light slate of games is highlighted by North Florida men playing at Pitt and JU women playing at Ole Miss.
Read more »
The Best TV Performances of 2022: Pairs EditionThe best TV performances of 2022 came from pairs. From WhatWeDoInTheShadows, Andor to Bridgerton these are the best duos of 2022. Full list here: Variety TV Critics Picks presented by SamsungMobileUS
Read more »