Ultima Markets【 Market Analysis 】 Strong inflation in the United States, Euro Encounters Lover...

todayUltimaMarkets Bringing you 2024year 2month 14Euro to USD exchange rate on a daily basisIn depth analysis.

Fundamental points

• Strong US economyYesterday in the United States1The monthly price increase exceeded expectations, and the swap market fully priced the Fed's interest rate cut from6Month postponed to7Month. The US dollar index rose sharply during the US market period, hitting3A new high in the past month.
• Changes in monetary policy differencesIs the current market expectation that the European Central Bank will4Month or6Lowering borrowing costs for the first time in the month. If the European Central Bank cuts interest rates earlier than the Federal Reserve, the euro against the US dollar will not rise as optimistically as previously expected.
  

technical analysis

Daily chart analysis

Daily chart of EUR/USD, sourceUltima Markets MT4）

• bareKstructureYesterday, the exchange rate hit its previous low point again1.07954Later, a large solid yin appearedKAt the same time, it also fell below last Monday's low, indicating a strong bearish trend at present.
• Fibonacci retracement: Currently, the exchange rate has hit the previous upward trend61.8%Fibonacci retreats, and theoretically, a rapid downward trend encounters similar resistance levels, usually resulting in a rebound, oscillation, or even reversal trend.
  

1Hour chart analysis

(EUR/USD)1Hour chart, sourceUltima Markets MT4）

• Random oscillation indexThe indicator sends a bullish signal in the oversold area, indicating that the current exchange rate may experience an increase. Based on the bearish trend of the major cycle, the current decline is temporarily considered a rebound. Wait for the indicator to send a bearish signal again and pay attention to whether there are any short selling opportunities.
• Downward channel lineAfter the exchange rate formed a downward channel line, it quickly fell and broke the range yesterday. If the exchange rate starts to rebound, the first target is to look towards the red color33The resistance region formed by the combination of the periodic moving average and the lower edge of the downward channel line. If the exchange rate breaks through this region, the rebound potential will turn into a reversal and upward trend.
  

Trading CentralHub Line Indicators

(EUR/USD)30Minute chart, sourceUltima Markets APP）

• according toUltima Markets APPInTradingCentralHub line indicators, central price range for the day1.0740，
• 1.0740Upward bullish, first goal1.0755Second objective1.0775
• 1.0740Under bearish, first target1.0690Second objective1.0670
  

Disclaimers

The comments, news, research, analysis, pricing, and other information contained in this article can only be considered as general market information and are provided solely to assist readers in understanding the market situation and do not constitute investment advice.Ultima MarketsReasonable measures have been taken to ensure the accuracy of the data, but the accuracy of the data cannot be guaranteed and can be changed at any time without notice.UltimaMarketsWe will not be responsible for any losses or losses (including but not limited to any loss of profits) that may arise from the direct or indirect use or reliance on such information.