EURUSD - sideway end of year - entry BUY support zone

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USD / JPY trend forecast December 24, 2024

The EUR/USD pair remains under modest pressure, trading near 1.0400 during the early hours of Tuesday's Asian session. Anticipation that the US Federal Reserve (Fed) will implement fewer rate cuts in 2025 lends some strength to the US Dollar (USD). With the holiday season approaching, trading activity is expected to remain subdued.

The Fed's renewed "higher for longer" policy approach is likely to dominate market sentiment in the remaining trading days of the year, potentially supporting the USD further. Last week, the central bank reduced its benchmark interest rate by 0.25%. However, the updated quarterly dot plot indicates a scaled-back outlook for rate reductions in 2025 and beyond, with the Fed now forecasting just a 50 basis points decrease—equivalent to two rate cuts—instead of the previously projected four quarter-point cuts.

sideway price zone, no much price change at the end of 2024, pay attention to H1 support price zone

/// BUY EURUSD : zone 1.03750 - 1.03550

SL: 1.03300

TP: 50 - 120 - 200pips (1.03300)


Safe and profitable trading

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The Forex market is not having much liquidity at the end of the year - exchange rate pairs fluctuate slightly

EURUSD is waiting for the price to return to the BUY entry zone