EURUSD Analysis: Be aware of TRADE war
Fundamental Analysis of EURUSDEURUSD Key Takeaways
- Tariff confrontation: Yesterday, the EU announced that it would impose retaliatory tariffs on US products worth 26 billion euros starting next month. Trump claimed that he would respond to the EU’s retaliatory tariffs.
- The probability of a Fed rate cut has increased instead of decreased: US CPI data for February was lower than expected across the board, and the swap market’s bets on the Fed’s rate cut this year have decreased instead of increased, from 73 basis points to about 67 basis points.
Technical Analysis of EURUSD Daily and Hourly ChartsEURUSD Daily Chart Insights
(EURUSD Daily Price Chart, Source: Ultima Markets MT4)
- Stochastic oscillator:The indicator is fluctuating and consolidating in the overbought area, suggesting that there is a risk of a decline in the exchange rate in the short term.
- Key price: Since the exchange rate finally fell yesterday, if it falls below yesterday’s lowest point today, the euro will be dominated by the compilation trend in the short term this week.
EURUSD H1 Chart Analysis
(EURUSD H1 Price Chart, Source: Ultima Markets MT4)
- Stochastic oscillator: During the Asian session, the indicator showed a bullish upward trend, but the exchange rate showed an oscillating adjustment trend. It suggests that short-term liquidity is low and the exchange rate has not yet determined the trend direction.
- Support area: Although there is a probability of adjustment in the daily cycle, there are many support prices below the intraday hourly chart. The exchange rate will still be dominated by a bullish trend before it breaks the upward trend and horizontal support price.
Pivot Indicator Insights for EURUSD
(EURUSD M30 Price Chart, Source: Ultima Markets APP)
- According to Pivot Indicator in Ultima Markets APP, the central price of the day is established at 1.0925,
- Bullish Scenario: Bullish sentiment prevails above 1.0925, first target 1.0945, second target 1.0965;
- Bearish Outlook: In a bearish scenario below 1.0925, first target 1.0870, second target 1.0845.
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