EUR/USD Mid-Day Outlook – Action Forex

Daily Pivots: (S1) 1.1180; (P) 1.1234; (R1) 1.1296; More

Range trading continues in EUR/USD and intraday bias remains neutral. On the upside, decisive break of 1.1292 resistance should indicate that correction from 1.1572 has already completed after defending 38.2% retracement of 1.0176 to 1.1572 at 1.1039. Intraday bias will be turned back to the upside for retesting 1.1572 next. However, sustained break of 1.1039 will bring deeper decline to 61.8% retracement at 1.0709 next.

In the bigger picture, rise from 0.9534 long term bottom could be correcting the multi-decade downtrend or the start of a long term up trend. In either case, further rise should be seen to 100% projection of 0.9534 to 1.1274 from 1.0176 at 1.1916. This will now remain the favored case as long as 55 W EMA (now at 1.0818) holds.

Source link

Visited 1 times, 1 visit(s) today

Related Article

Weekly Forex Forecast - June 08th

Weekly Forex Forecast – June 08th

I wrote on 1st June that the best trades for the week would be: Long of Bitcoin following a daily (New York) close above $111,743. This did not set up. Long of the GBP/USD currency pair following a daily (New York) close above $1.3513. This set up on Monday, but Friday saw the price close

Crude Oil Weekly Forecast - 08/06: PResistance Test (Chart)

Crude Oil Weekly Forecast – 08/06: PResistance Test (Chart)

Speculators last week in WTI Crude Oil got rather solid price range from Monday until mid-Friday. A price realm between 61.600 and 63.300 dominated most of last week with plenty of flourishes and enough fast action to keep traders mindful. However, as Friday developed a bolt upwards in WTI Crude Oil took place and when

EUR/USD Weekly Forecast 08/06: Volatile Fight Higher (Chart)

EUR/USD Weekly Forecast 08/06: Volatile Fight Higher (Chart)

As expected this past Thursday the ECB lowered its Main Refinancing Rate by another 25 basis points to an interest rate of 2.25%. The European Central Bank made it clear this is likely the last interest rate cut for a while and they will now try to allow economic results over the mid-term determine their

Gold 08/06/2025

Weekly Pairs in Focus – June 08

Gold markets initially rallied during the week, but we have given back quite a bit of the gains. We are currently in the middle of a lot of choppy behavior, and I think we have a situation where market participants will have to look at this from a short-term perspective more than anything else, as

EUR/USD Weekly Forecast: ECB Signals End to Monetary Easing

EUR/USD Weekly Forecast: ECB Signals End to Monetary Easing

The EUR/USD weekly forecast indicates a looming end to the ECB’s rate cuts. The US economy added 139,000 new jobs compared to the forecast of 130,000. Next week, traders will focus on US inflation data. The EUR/USD weekly forecast is bullish as the situation indicates a looming end to the ECB’s monetary easing cycle. Ups

Fortuno Markets Targets Novice Investors in Expanding Forex Landscape

Fortuno Markets Targets Novice Investors in Expanding Forex Landscape

Forex trading. Photo: Anadolu Jakarta: As retail participation in the foreign exchange market continues to surge in 2025, beginner traders are increasingly seeking platforms that balance usability with robust features. Fortuno Markets is positioning itself at the forefront of this trend, offering a forex trading experience tailored specifically to the needs of newcomers. What’s

Chart: Weak US macro data is starting to bite

Less trade drama, more macro action – United States

Trade tensions ebb and flow. Markets cheered the news President Trump and his Chinese counterpart Xi agreed to further talks on tariffs and rare earth minerals, while the US Treasury avoids labeling China a currency manipulator. The same can’t be said for Switzerland though, which is now included on the US Treasury’s FX monitoring list,

On June 5, South Korean won hit a seven-month high to the US dollar

US monitors NPS, sovereign funds in expanded currency oversight

On June 5, South Korean won hit a seven-month high to the US dollar Washington will strengthen its monitoring of portfolio investments by pension and sovereign wealth funds of its trading partners as it broadens the scope of oversight to include their capital flow and macroprudential measures beyond direct market interventions. In a semiannual report on macroeconomic and foreign exchange policies of its major trading partners released on

GBP/USD technical price analysis

GBP/USD Price Analysis: Pound Fades Gains Ahead of NFP

The GBP/USD price analysis indicates a pause in the pound’s rally. Economists expect 130,000 new US jobs in May. Dollar weakness this week allowed its peers, like the pound, to climb. The GBP/USD price analysis indicates a pause in the pound’s rally ahead of the pivotal US nonfarm payrolls report. Market participants are locking in

From Big and Beautiful to Ugly and Personal

Popcorn sales will pop — that’s my best prediction for today — as the world watches the incredible escalation of tensions between Donald Trump and his – once – best buddy, Elon Musk. Musk joined the mounting chorus of critics regarding Trump’s Big and Beautiful Tax Bill. But because nothing is reasonable anymore, the tweet

Why More Equity Investors Are Exploring Forex in 2025

Why More Equity Investors Are Exploring Forex in 2025

Everyone has been talking about the stock market in recent months due to the volatility brought on by Donald Trump’s tariffs, Congress’s budget talks, persistent inflation, rapidly changing tech valuations, and fears of a recession in much of the market. As a result, many equity investors have been exploring new investment opportunities to hedge their

Dollar little changed ahead of European trading — TradingView News

Dollar little changed ahead of European trading — TradingView News

Major currencies are not doing all too much in the new day with lights changes being observed ahead of European trading. This comes after the dollar fell back again yesterday, continuing the back and forth movements since the start of the week. That is exemplified by USD/JPY which fell over 150 pips on Monday before

Public shuts down social trading

Public shuts down social trading

Online investing provider Public.com, which began life as a social trading focused app, has announced that it is now shuttering social trading. And the reason given? AI, of course. In a blog post entitled “Sunsetting Social”, Public explained that when it first launched, a key feature of the product was the ability to see other people’s

Image for representational purposes only.

Rupee falls 9 paise to 85.96 against U.S. dollar in early trade

Image for representational purposes only. | Photo Credit: R. Ragu The rupee depreciated 9 paise to 85.96 against the U.S. dollar in early trade on Thursday (June 5, 2025), weighed down by dollar demand from foreign investors, oil companies, and importers. Forex traders said market participants are now keenly awaiting the outcome of the Reserve

Markets Unshaken by Weak US Data, Await Guidance from ECB

The US markets remain remarkably steady overnight despite a string of soft US economic releases overnight. Disappointing job and services data failed to trigger any meaningful selloff in equities, while Dollar edged slightly lower. Market pricing for Fed policy remains broadly unchanged, with a 96% chance of a hold at the upcoming meeting and a

AUD/USD Signal Today 05/06: Remains in Narrow Range (Chart)

Remains in Narrow Range (Chart)

Bullish view Buy the AUD/USD pair and set a take-profit at 0.6600. Add a stop-loss at 0.6400. Timeline: 1-2 days. Bearish view Sell the AUD/USD pair and set a take-profit at 0.6400. Add a stop-loss at 0.6600. The AUD/USD exchange rate continued to consolidate after the recent important macro data from the United States and

Finance Magnates National Award Winners 2024

How a National Forex Award Boosts Your Brokerage

Winning a Finance Magnates National Forex Award is not just a moment of pride at the awards ceremony and gala dinner; it’s a powerful way to enhance your brand’s visibility in a competitive market. When traders in your country are comparing brokers, a Finance Magnates National Award can provide you with a significant advantage. It

0
Would love your thoughts, please comment.x
()
x