Forecast for EUR/USD on April 29, 2024
April 29, 2024 5:23 amVideo
Latest News
- Forecast for EUR/USD on April 29, 2024 April 29, 2024
- Forecast for GBP/USD on April 29, 2024 April 29, 2024
- Forecast for USD/JPY on April 29, 2024 April 29, 2024
- Key events on April 29: fundamental analysis for beginners April 29, 2024
- Trading plan for GBP/USD on April 29. Simple tips for beginners April 29, 2024
- Trading plan for EUR/USD on April 29. Simple tips for beginners April 29, 2024
- Analysis of GBP/USD on April 26th. The pound trades on Friday without changes April 26, 2024
- USD/JPY: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- EUR/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: trading plan for the US session on April 26th (analysis of morning deals). The pound attempted, but it didn’t go April 26, 2024
- EUR/USD: trading plan for the US session on April 26th (analysis of morning deals). The euro continues to rise April 26, 2024
- Trading Signals for GOLD (XAU/USD) for April 26-29, 2024: buy above $2,324 and sell below $2,352 (21 SMA – 6/8 Murray) April 26, 2024
- Technical Analysis – AUDUSD set to complete best week of the year April 26, 2024
- Will Apple finally drop its AI hint? – Stock Markets April 26, 2024
- Bitcoin slips as markets pare back Fed rate cuts – Crypto News April 26, 2024
- EUR/USD. April 26th. Bulls continue to advance after the GDP report April 26, 2024
- Can Chinese PMIs solidify the economy’s recovery prospects? – Preview April 26, 2024
- Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- XM’s Lombok Collaboration: Brightening Futures April 26, 2024
EUR/USD
On Friday, the euro fell by 36 pips on significant trading volumes. The reason behind this was the US inflation data, as US PCE inflation rose by 2.7% YoY in March, compared to 2.5% prior. So now the market only expects one rate cut from the Federal Reserve this year, which has a 60% chance.
Concerns have intensified, as some believe a potential rate hike may happen by the end of the year (in December), especially since the Fed has suggested something similar. So now we can assume that the corrective rise, which began on April 17th, has ended, and now the euro is heading towards the target range of 1.0636/56. Consolidation below it opens up the nearest target at 1.0567. The Marlin oscillator failed to reach the zero line on the daily scale, evidently due to its weakness.
On Friday, the price turned down from the intermediate level of 1.0757 on the 4-hour chart, which proved to be strong. The signal line of the Marlin oscillator has settled in the downtrend area, and the oscillator will help the price in overcoming the MACD line (1.0672) and then breaking through the support range.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: