What is going to happen to Eurusd?

EUR/USD is predicted to reach 1.05 in June 2024 and September 2024, 1.09 in December 2024 and 1.12 in March 2025 . USD/JPY is expected to hit 155 in June 2024, 154 in September 2024, 153 in December 2024 and 152 in March 2025.

What is the technical analysis for EUR to USD?

EUR/USD Daily Outlook Intraday bias in EUR/USD remains on the upside for the moment . Fall from 1.0980 could have completed with three waves down to 1.0601. Further rally is expected and firm break of 100% projection of 1.0601 to 1.0752 from 1.0648 at 1.0799 will pave the way to 161.8% projection at 1.0892.

What affects EUR USD in forex?

The EUR/USD pair represents the number of US dollars required to buy a single euro. It is affected by government policies and the economics of demand and supply in currency markets for the pair.

Is the euro expected to rise or fall in 2024?

Bank of America and ING On the other hand, Bank of America (BoA) expects a still relatively strong euro in 2024 . The exchange rate estimate is 1.10 and 1.15 in 2024. Several elements could alter these assumptions, but the main one is related to interest rates.

Which is the strongest currency in the world?

1. Kuwaiti dinar . Known as the strongest currency in the world, the Kuwaiti dinar or KWD was introduced in 1960 and was initially equivalent to one pound sterling.

What is the prediction for EUR USD?

The Euro US Dollar Exchange Rate - EUR/USD is expected to trade at 1.06 by the end of this quarter , according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.04 in 12 months time.

Is Eurusd bullish or bearish?

EUR/USD is part of a very strong bullish trend . Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 1.0708 USD.

What is the best hour to trade EUR USD?

The popular time to trade EUR/USD is when European and US trading sessions overlap. It often trades with the highest liquidity and volatility between 1pm and 4pm GMT . Economics, geopolitics and central banks all move EUR/USD.

Why did EUR USD drop?

EUR/USD is trading down a full percentage point in the upper 1.0700s, after the release of the US Consumer Price Index (CPI) data, on Wednesday. The data showed warmer-than-expected inflation in March and lowers the probability that the US Federal Reserve (Fed) will implement an early interest-rate cut .

What is the future trend for USD EUR?

USD to EUR for the next 6 months The USD to EUR forecast for the next 6 months is that the USD to EUR rate will increase by 0.31% and hit € 0.930770 .

When should I buy Eurusd?

The popular time to trade EUR/USD is when European and US trading sessions overlap. It often trades with the highest liquidity and volatility between 1pm and 4pm GMT . Economics, geopolitics and central banks all move EUR/USD.

Is the Euro stronger than the US dollar?

8. (tie) Euro (EUR) The euro shares the No. 8 spot among the world's strongest currencies, with 1 euro buying 1.08 dollars (or $1 equals 0.93 euro). The euro is the official currency of 20 out of the 27 countries that form the European Union.

EUR/USD in Bullish Trend: Broke HH and Seeking Liquidity (2024)

12th October 2023

EUR/USD in Bullish Trend

The EUR/USD currency pair, one of the most widely traded in the world, is currently riding a bullish trend that has caught the attention of traders and investors alike. This upward movement has been characterized by the pair consistently breaking higher highs, signaling increased buying pressure and optimism in the euro. In this article, we’ll explore the dynamics of this bullish trend, the factors driving it, and the potential for further upward movement as the pair seeks to find new liquidity areas.

EURUSD Broke Higher Highs

A hallmark of a bullish trend is the steady increase in the price of the asset, often marked by the breaking of higher highs. For EUR/USD, this trend has been quite evident, with the pair consistently achieving new, higher highs in its price movements. These higher highs represent key resistance levels that have been surpassed, signaling a willingness by traders to buy at higher prices, which, in turn, reflects growing confidence in the euro.

Several factors have contributed to the breaking of these higher highs:

Improving Economic Indicators: The Eurozone has seen improved economic data, including rising GDP growth, employment, and manufacturing output. This suggests a robust economic recovery and has attracted investors to the euro.
Central Bank Policies: The European Central Bank (ECB) has maintained an accommodative monetary policy, which includes low-interest rates and bond purchasing programs. This has supported liquidity in the euro and encouraged risk-taking in the financial markets.
Dollar Weakness: On the other side of the pair, the US dollar has faced headwinds due to concerns about inflation, uncertainty surrounding the Federal Reserve’s monetary policy, and political factors. As the dollar weakens, it naturally drives the euro higher.

Seeking Liquidity

As the EUR/USD pair continues to push higher, it is now looking for further liquidity areas to clear. Liquidity refers to the ease with which an asset can be bought or sold without significantly affecting its price. Traders and investors often seek these areas to ensure they can enter or exit positions with minimal slippage.

The pair’s quest for liquidity can unfold in a few ways:

Breaking Through Key Levels: EUR/USD may continue to break through significant technical resistance levels. These levels often attract a concentration of buy and sell orders, making them important liquidity areas to clear. Clearing these levels can lead to rapid price movements in the direction of the trend.
Fundamental Catalysts: Positive economic data, policy announcements, or geopolitical events can also serve as catalysts for clearing new liquidity areas. Traders closely watch events that can impact the Eurozone and the US, adjusting their positions accordingly.
Market Sentiment: Sentiment plays a crucial role in trading. If traders and investors remain bullish on the euro due to an optimistic outlook or ongoing dollar weakness, this sentiment can create additional liquidity in favor of the bullish trend.

Find our September trading Performance Here

In the end, The EUR/USD pair’s bullish trend, characterized by the breaking of higher highs, is a reflection of the market’s optimism toward the euro. This trend has been driven by improving economic indicators, central bank policies, and dollar weakness. As the pair continues to push higher, it is actively seeking new liquidity areas to clear. Whether this bullish momentum will persist depends on various factors, including economic developments, central bank actions, and market sentiment. Traders and investors should stay vigilant and adaptable to navigate the evolving landscape of the currency markets.