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💡Message Strategy
The recent trend of the euro is affected by the resonance of multiple macroeconomic factors. First, the eurozone CPI data for May showed that the overall annual rate dropped sharply from 2.2% to 1.9%, and the core CPI annual rate also fell to 2.3%, hitting a one-year low, which suppressed the market demand for the euro. This cooling trend of inflation has significantly strengthened the market's expectations that the European Central Bank will further cut interest rates. The current market has fully taken into account the possibility of a 25 basis point rate cut on Thursday, and even expectations of further rate cuts in July have fermented.
At the same time, US economic data is still weak. The ISM manufacturing PMI fell to 48.5, which has been in the contraction range for several consecutive months. In addition, the JOLTS job vacancies may hit a new low, which makes the dollar bulls lack support. In general, the euro is facing a tug-of-war between the eurozone's easing expectations and the weakness of the US dollar, and the market is generally optimistic about the trend.
📊Technical aspects
From the K-line pattern, the long and short sides are stuck near 1.1400, and a unilateral trend has not yet formed. It is worth noting that the high point of 1.1572 in mid-April has formed an obvious resistance band so far, and the upper 1.1500 is a psychological integer mark, and it is also the previous high, forming the first key resistance line. If it breaks through this level, it may usher in further upward space.
In terms of MACD indicators, the bar chart is currently oscillating near the zero axis, and the fast and slow lines are above the zero axis, indicating that the bullish momentum is dominant. RSI remains at 57.94, which is in the neutral to strong range, but has not entered the overbought area, and there is still potential for short-term growth.
💰 Strategy Package
Long Position:1.13750-1.13850
💡Message Strategy
The recent trend of the euro is affected by the resonance of multiple macroeconomic factors. First, the eurozone CPI data for May showed that the overall annual rate dropped sharply from 2.2% to 1.9%, and the core CPI annual rate also fell to 2.3%, hitting a one-year low, which suppressed the market demand for the euro. This cooling trend of inflation has significantly strengthened the market's expectations that the European Central Bank will further cut interest rates. The current market has fully taken into account the possibility of a 25 basis point rate cut on Thursday, and even expectations of further rate cuts in July have fermented.
At the same time, US economic data is still weak. The ISM manufacturing PMI fell to 48.5, which has been in the contraction range for several consecutive months. In addition, the JOLTS job vacancies may hit a new low, which makes the dollar bulls lack support. In general, the euro is facing a tug-of-war between the eurozone's easing expectations and the weakness of the US dollar, and the market is generally optimistic about the trend.
📊Technical aspects
From the K-line pattern, the long and short sides are stuck near 1.1400, and a unilateral trend has not yet formed. It is worth noting that the high point of 1.1572 in mid-April has formed an obvious resistance band so far, and the upper 1.1500 is a psychological integer mark, and it is also the previous high, forming the first key resistance line. If it breaks through this level, it may usher in further upward space.
In terms of MACD indicators, the bar chart is currently oscillating near the zero axis, and the fast and slow lines are above the zero axis, indicating that the bullish momentum is dominant. RSI remains at 57.94, which is in the neutral to strong range, but has not entered the overbought area, and there is still potential for short-term growth.
💰 Strategy Package
Long Position:1.13750-1.13850
Trade closed: target reached
EUR/USD has reached its first profit target.Note
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Disclaimer
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Through scientific and rigorous financial analysis and personalized strategy formulation, we help you achieve stable growth of wealth. At the same time, in a complex and changing economic environment, we help you avoid potential risks and protect the saf
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.