đź‘€ Possible scenario:
The euro rose 0.1% on June 24, nearing 1.16250 and hitting a 2.5-year high of 1.16410, as the U.S. dollar softened following soft remarks from Fed Chair Jerome Powell and weak U.S. data. Powell warned that tariffs may boost inflation this summer but signaled openness to rate cuts if economic risks grow.
U.S. consumer confidence fell unexpectedly in June, fueling concerns about a slowing job market and economy. This boosted expectations for a July Fed rate cut, now seen at 18%, and supported the euro as traders weighed diverging Fed-ECB policy paths. Traders now see an 18% chance of a July cut, boosting the euro amid diverging Fed-ECB outlooks.
âś… Support and Resistance Levels
Now, the support level is located at 1.14535
Resistance level is located at 1.16330
The euro rose 0.1% on June 24, nearing 1.16250 and hitting a 2.5-year high of 1.16410, as the U.S. dollar softened following soft remarks from Fed Chair Jerome Powell and weak U.S. data. Powell warned that tariffs may boost inflation this summer but signaled openness to rate cuts if economic risks grow.
U.S. consumer confidence fell unexpectedly in June, fueling concerns about a slowing job market and economy. This boosted expectations for a July Fed rate cut, now seen at 18%, and supported the euro as traders weighed diverging Fed-ECB policy paths. Traders now see an 18% chance of a July cut, boosting the euro amid diverging Fed-ECB outlooks.
âś… Support and Resistance Levels
Now, the support level is located at 1.14535
Resistance level is located at 1.16330
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.