| Wednesday morning trading in Europe, Euro/USD in 1.0800 Nearby horizontal consolidation.Despite the cautious risk tone limiting optimism ahead of the busy EU and US economic conferences, the currency pair still benefited from the fall of the US dollar.U.S.AADPIt is a critical event risk. Technical Overview euro/USD in100Daily moving average1.0775Find support at. The above line is being challenged, and a daily closing price far below it will indicate further weakness. The price is already below 20 Rihe 200 Daily moving average. The technical indicators on the daily chart continue to lean downwards. under1.0770The next key support is located at1.0690(Upward trend line,55Daily moving average). 4In the hourly chart, the currency is bearish on its trend. The technical indicators are at an oversold level, indicating that there will be some consolidation before a possible decline. The strong negative momentum in the short term may lead to1.0850Persistent presence below. In order to reverse negative bearish biases, the euro must rise and remain stable at 1.0915 above. Basic Overvieweuro/The US dollar has fallen again and has since1.1000Continuing adjustment above, in the20Daily Simple Moving Average（SMA）Bottom consolidation.This move was driven by the strengthening of the US dollar. Despite mixed US data and low treasury bond bond yields, the US dollar still rose. European Central Bank(ECB)Isabel Schnabel(Isabel Schnabel)On Wednesday, it was stated that the rate of inflation decline was faster than expected, indicating that it is unlikely to raise interest rates again.Market participants also agree with this view, and it is currently expected that the March meeting will lower interest rates.Eurozone data shows that,10Monthly Producer Price Index(PPI)Year-on-year decrease9.4%Below9Of the month12.4%。eurozone (EZ) 11 Monthly service industry PMI The final release shows an upward adjustment.The European Central Bank report shows that one-year inflation expectations remain stable at4.0%。Thursday, Eurozone10The monthly retail sales data will be released. although JOLT The unexpected decrease in job vacancies indicates a more balanced labor market, but the euro/The decline of the US dollar is driven by its strength.11 month ISM Service industry PMI Ascend to 52.7, exceeded expectations.As inflation slows down and the labor market eases, the Federal Reserve（Fed）Considered to have completed the tightening cycle.Market participants expect 2024 Interest rates will be lowered this year, although Federal Reserve officials have not yet hinted at this.Wednesday,ADP The employment report will be released. |
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