EURUSD currency pair analysis
✍️ As you can see, in the previous analysis, we examined two main scenarios for the Euro-Dollar currency pair and gave more weight to the falling scenario.
✍️ According to the data published in recent weeks in the calendar and the weakness of economic growth (especially in the industrial sector), the euro began to decline, but this decline has other aspects, including the lack of inflation control and the pressures and consequences of the war between Russia and Ukraine. and the energy crisis, all of which have been factors of pressure and negative impact on the strength of the euro so far.
✍️ After about 20 years, the Euro-Dollar parity rate has reached below 1, and this can be a warning for economic relations in the Eurozone.
✍️ From the point of view of the chart and technical analysis, the euro-dollar is in a downward channel, which is continuously moving downwards, and its support levels do not prevent further falls.
✍️ According to the forecast, we consider a price target of 0.95000 for this currency pair in the medium term.
🔻 The data released in today's calendar expected that the Federal Reserve will reduce its hawkish intensity and the market has turned to selling the dollar a little, we have to wait and see if this procedure will continue or not.
The meeting of Jackson Hole at the end of this week can be very effective in the speed and direction of this movement.
This analysis will be updated step by step.
#EURO
✍️ According to the data published in recent weeks in the calendar and the weakness of economic growth (especially in the industrial sector), the euro began to decline, but this decline has other aspects, including the lack of inflation control and the pressures and consequences of the war between Russia and Ukraine. and the energy crisis, all of which have been factors of pressure and negative impact on the strength of the euro so far.
✍️ After about 20 years, the Euro-Dollar parity rate has reached below 1, and this can be a warning for economic relations in the Eurozone.
✍️ From the point of view of the chart and technical analysis, the euro-dollar is in a downward channel, which is continuously moving downwards, and its support levels do not prevent further falls.
✍️ According to the forecast, we consider a price target of 0.95000 for this currency pair in the medium term.
🔻 The data released in today's calendar expected that the Federal Reserve will reduce its hawkish intensity and the market has turned to selling the dollar a little, we have to wait and see if this procedure will continue or not.
The meeting of Jackson Hole at the end of this week can be very effective in the speed and direction of this movement.
This analysis will be updated step by step.
#EURO
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