PIB dos EUA deve mostrar uma economia forte
A estimativa para os números finais é que o PIB do quarto trimestre se mantenha na casa dos 3,2%, mostrando uma economia aquecida
Is the Euro Set to Recover Yet?
2023-05-22 • Atualizado
Here's the scoop: The Bank of England (BOE) is set to accelerate the pace at which it shrinks its balance sheet, according to one of its deputy governors. Currently, the BOE is unwinding about £20 billion of quantitative easing every three months. The goal is to reduce the stock by around £80 billion per year through active sales and maturing assets. Despite concerns that this process, known as quantitative tightening, could destabilize markets, it has been smooth sailing so far. The BOE aims to strike a balance between reducing the balance sheet and maintaining market liquidity. Remember, though, quantitative tightening is not the primary tool for tackling inflation—interest rates take the lead on that front. Stay tuned to see how this plays out in the forex market!
EURUSD - H4 Timeframe
Last week, during the PPI live market trading session in the telegram group, I mentioned that the US Dollar was gradually nearing a resistance level and could soon get weaker. This exactly played out and led to the price rejection from the pivot zone as seen in the chart above. However, I still uphold the overall bearish sentiment in the EURUSD market, and I have thus marked the likely supply zone price would react from. The highlighted supply zone has confluences from twin resistance trendlines, bearish moving averages array, as well as the 50-period moving average resistance.
Analyst’s Expectations:
Direction: Bearish
Target: 1.07766
Invalidation: 1.08752
EURCAD - Daily Timeframe
Whenever I see the moving averages arrayed in either an increasing or decreasing order as we have on the EURCAD chart above, I tend to simply look for trades in the direction of that order. Another notable confluence is the fact that price has made an initial reaction to the pivot zone just slightly below the 100-Day moving average. Based on these criteria, I would expect price to rise slightly higher, towards the 50-Day moving average, even higher.
Analyst’s Expectations:
Direction: Bullish
Target: 1.47064
Invalidation: 1.45239
EURJPY - H4 Timeframe
When I noticed that the 50-period moving average had crossed below the 100-period moving average on the EURJPY chart, my initial deduction was that price might be preparing for a reversal. The candlestick pattern formed by the reaction from the highlighted supply zone gave me the confirmation I needed. The candlestick pattern indicates that the buyers may have been overpowered at that supply zone by a new influx of sellers. Hence, my sentiment on EURJPY would remain bearish unless by some unexpected market stroke, price rises above the supply zone.
Analyst’s Expectations:
Direction: Bearish
Target: 147.402
Invalidation: 149.851
EURNZD - Daily Timeframe
If you’ve followed and digested my analysis up until this point, then you likely already guessed my sentiment on this one - Bullish! As you can see, the moving averages are arrayed in an increasing order which readily suggests a rising price action. Then, having a pivot zone that aligns perfectly with the 100-Day moving average and a support trendline adds the final piece of the puzzle. My initial target on this EURNZD trade is the 50-Day moving average.
Analyst’s Expectations:
Direction: Bullish
Target: 1.74317
Invalidation: 1.71437
CONCLUSION
The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.
You can access more of such trade ideas and prompt market updates on the telegram channel.
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AUD/USD se recupera em meio à fraqueza do dólar americano
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Últimas notícias
Ofertas de Empregos Jots no radar dos touros do dólar
Depois da queda no mês de março em cerca de 26 mil vagas de emprego, a expectativa do mercado é de nova queda para 8,790M para o mês de fevereiro do mesmo ano
Investidores de olho no PMI Industrial do ISM
Nesta segunda-feira, primeiro dia do mês de abril, os EUA liberam os números dos PMIs da S&P Global e do ISM para a indústria
As expectativas dos mercados giram em torno do PCE dos EUA
Todas as atenções estarão nos preços básicos do PCE (núcleo) dos EUA, que excluem alimentos e energia para o mês de março, com a expectativa de que os números venham abaixo do mês anterior, que registraram um aumento de 0,4%
