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.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.