EUR/USD D1 chart – Analysis Made By REVOLVER™ and ISOTRIUMPH™ Indicators.
In a week marked by twists and turns, the EUR/USD currency pair embarked on a journey below the psychologically significant 1.0900 level on Monday, marking its first foray into this territory since early July. The day’s rollercoaster ride saw the pair defying gravity, managing to close just a hair’s breadth above the 1.0900 line. As market participants clung to their seats, the overarching theme emerged: the EUR/USD’s fate hinges on its ability to surmount the 1.0950 obstacle and establish a stable foothold above this critical threshold.
The resolute strength of the US Dollar (USD), bolstered by a surge in risk aversion, cast a shadow over the pair during the initial half of Monday’s trading session. A bearish curtain-raiser was followed by a captivating twist, as major US equity indexes defied the odds and battled their way into positive territory. This unexpected turn of events acted as a counterbalance, curtailing the Dollar’s ascent and injecting an element of intrigue into the unfolding drama.
Tuesday dawned with a cautious atmosphere enveloping the markets, largely attributed to the Assumption Day holiday observed across Europe. This led to thin trading conditions, rendering the EUR/USD’s navigation through decisive moves an elusive pursuit. As the pair charted its course against a backdrop of restrained momentum, traders remained watchful, waiting for a clearer signal to guide their actions.
The second act of this unfolding narrative brings the spotlight to the US economic docket, with Retail Sales data for July poised to take center stage. Market expectations cast a spotlight on a potential 0.4% growth in sales, following June’s modest 0.2% uptick. While a positive reading could embolden the USD, the ensuing market reaction may prove ephemeral. The upcoming week’s earnings figures from retail giants such as Home Depot, Walmart, and Target loom large, poised to sway the risk sentiment pendulum. If the US Retail Sales data lands on an upbeat note, the stage could be set for an improvement in market sentiment, thereby complicating the Dollar’s bid for supremacy against its rivals.
In conclusion, the EUR/USD’s recent voyage through choppy waters reflects the interplay between Dollar strength, fluctuating risk sentiment, and the backdrop of cautious market conditions. As the pair teeters on the precipice of the 1.0900 threshold, the impending test of the 1.0950 barrier holds the key to the next chapter in this unfolding saga. With the stage set for a possible showdown, traders and spectators alike remain on the edge of their seats, anticipating the next twist in this high-stakes drama.
EUR/USD M30 Forex chart – Analysis Made By REVOLVER™ and ISOTRIUMPH™ Indicators.
TurnAround Point: 1.08950
Our preference
Above 1.08950 look for further upside with 1.0955 & 1.0975 as targets.
The information and publications are not meant to be and do not constitute financial, investment, trading, or other types of advice or recommendations supplied or endorsed by FOREXN1.
ISOTRIUMPH is an innovative Machine-Learning Indicator that boasts unbeatable performance! Specifically designed for TradingView to provide the best possible results in the market.
This is a Top-performing scalping indicator.
REVOLVER is a unique and revolutionary Reversal Indicator designed to pinpoint the best turning point in the market and ride the trend until the very end.
- STATE.OF.ART TOOL FOR YOUR SUCCESS -
ISOFOREX is a MT4 and Tradingview chart indicator used to identify potential reversal signals in a financial markets.
Laser-Accurate trend indicator
DISCLAIMER:
All material from forexn1.com is for educational purposes only. Trading foreign exchange carries a high level of risk and may not be suitable for all investors/traders. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts. Forexn1.com takes no responsibility for loss incurred as a result of our trading analysis\ideas\ insights. By signing up as a member you acknowledge that we are not providing financial advice and that you are making a decision to follow\copy our trading course\analysis\ideas\insights on your own account. We have no knowledge of the level of money you are trading with or the level of risk you are taking with each trade. You must make your own financial decisions, we take no responsibility for money made or lost as a result of our analysis\ ideas\ insights or advice on forex related products on this website.
We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services. You consent to our cookies if you continue to use our website. Privacy & Cookie Policy