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Tesla
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NVIDIA
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Rigetti Computing
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Advanced Micro Devices
-- 119.210 Traders Zone: Forex Outlook- EUR/USD Poised for more Upside?
The news of the week has been the Fed’s decision to hold the Fed Rate unchanged, and more importantly, there could be a pivot from their policy (ie: a possibility of rates decreasing).
However, with inflation still hovering around 4%, that is short of their 2% target. Thus, our view is that the Fed rate should not see a huge drift and would be stabilising at current rates perhaps till the end of the year.
For this forex outlook, our focus will be more on analysing the technical analysis of the major pairs to highlight trading opportunities for the week ahead.h
However, with inflation still hovering around 4%, that is short of their 2% target. Thus, our view is that the Fed rate should not see a huge drift and would be stabilising at current rates perhaps till the end of the year.
For this forex outlook, our focus will be more on analysing the technical analysis of the major pairs to highlight trading opportunities for the week ahead.h
EUR/USD Charting Analysis
We look at the 4-hour chart for the EUR/USD, it seems there is a possibility for further upside for the week ahead.
We will be hunting for entries around the 1.065-1.07 region with a stop at 30 pips which is in line with the Average True Range.
We will be hunting for entries around the 1.065-1.07 region with a stop at 30 pips which is in line with the Average True Range.
The hint of not only a pause in the hike of the Fed rate but a potential pivot has driven the surge in EUR/USD. They have successfully broken out of their consolidation range for the month of October.
Our target for EUR/USD for the week ahead will be 1.078-1.08 region.
USD/JPY Charting Analysis
Our target for EUR/USD for the week ahead will be 1.078-1.08 region.
USD/JPY Charting Analysis
Source: Investing.com
Our view of USD/JPY is that the uptrend is still intact. It is indeed a good time to be going to Japan for holidays given the weakness of the Yen. The last time Yen was this weak against the USD was in 1990.
As long as the 148 level holds, we will be looking to place trades on the long side.
A reversal of the trend would need to see a convincing break below the 148 level.
Our view of USD/JPY is that the uptrend is still intact. It is indeed a good time to be going to Japan for holidays given the weakness of the Yen. The last time Yen was this weak against the USD was in 1990.
As long as the 148 level holds, we will be looking to place trades on the long side.
A reversal of the trend would need to see a convincing break below the 148 level.
$EUR/USD (EURUSD.FX)$ $USD/JPY (USDJPY.FX)$
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Disclaimer:
The content here is for informational purposes only and should NOT be taken as legal, business, tax, or investment advice. It does NOT constitute an offer or solicitation to purchase any investment or a recommendation to buy or sell a security. The content is not directed to any investor or potential investor and may not be used to evaluate or make any investment. Do note that this is not financial advice. If you are in doubt as to the action you should take, please consult your stockbroker or financial advisor.
We hope you found value in this article. Help us grow by sharing it through the social media icons below. Don’t forget to subscribe to our website for more insightful articles as soon as they’re published!
Disclaimer:
The content here is for informational purposes only and should NOT be taken as legal, business, tax, or investment advice. It does NOT constitute an offer or solicitation to purchase any investment or a recommendation to buy or sell a security. The content is not directed to any investor or potential investor and may not be used to evaluate or make any investment. Do note that this is not financial advice. If you are in doubt as to the action you should take, please consult your stockbroker or financial advisor.
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