breaking news EURUSD will enter the same range next week

EUR/USD

The EUR/USD is the currency pair comprising the single currency of the European Union, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair rate indicates how many euros are needed to buy a dollar. For example, when EUR/USD is trading at 1.2, it means that 1 euro equals 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the Euro (EUR) is the second most traded currency in the world, behind the US Dollar. This currency pair is the most traded and liquid currency pair in the market. As the most popular trading pair, EUR/USD is a staple of all brokerage offerings and often has some of the lowest spreads compared to other pairs. Ultimately, the currency trails the two most economical blocs in the world and sees the most volume for this reason. EUR/USD has a wide range of factors that influence its rates. On the Euro side, Eurozone economic data as well as internal bloc factors can easily impact rates. Even smaller member states can effectively weigh on the euro, as seen in Greece during bailout talks in the 2010s. Alternatively, developments in the US and at the Federal Reserve generally affect the EUR/ usd. Many examples include bailouts during the financial crisis, tax cuts under the Trump administration, and Covid-19 relief measures, among others.

The EUR/USD is the currency pair comprising the single currency of the European Union, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair rate indicates how many euros are needed to buy a dollar. For example, when EUR/USD is trading at 1.2, it means that 1 euro equals 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the Euro (EUR) is the second most traded currency in the world, behind the US Dollar. This currency pair is the most traded and liquid currency pair in the market. As the most popular trading pair, EUR/USD is a staple of all brokerage offerings and often has some of the lowest spreads compared to other pairs. Ultimately, the currency trails the two most economical blocs in the world and sees the most volume for this reason. EUR/USD has a wide range of factors that influence its rates. On the Euro side, Eurozone economic data as well as internal bloc factors can easily impact rates. Even smaller member states can effectively weigh on the euro, as seen in Greece during bailout talks in the 2010s. Alternatively, developments in the US and at the Federal Reserve generally affect the EUR/ usd. Many examples include bailouts during the financial crisis, tax cuts under the Trump administration, and Covid-19 relief measures, among others.
Read this term is trading near last Friday’s close of 1.1213. Current price is moving towards an afternoon high at 1.0219

During the US session, the price fell to a low of 1.01448. It was in a lower swing zone between 1.0140 and 1.1054 (see the red numbered circles).

The rebound above the 100 and 200 hourly MAs saw the 100 hourly MA retest before rallying higher in the afternoon session in New York.

On the upside this week the high was Monday at 1.0257. That was below the 50% midpoint of the decline from the June 27 high. Not being able to break above this key target sent the pair lower and below 50% of the upside from the July 14th low at 1.01129 on Tuesday and Wednesday. However, after climbing back above 50% also on Wednesday (day of the FOMC 75 BP rise), yesterday’s low again found buyers of support at 50%.

Buyers and sellers continue to fight. The range over the last 9 trading days is 1.0095 to 1.02074 with lots of ups and downs.

The battle will continue to rage next week. Traders will continue to rely on highs and lows, perhaps moving averages and other swing levels where risk can be defined and limited.