The daily analysis of EURUSD from the
GIC team currently discusses the movement of the Eurozone's single currency, the Euro, in Wednesday's market trading, moving weaker against the US Dollar currency making a new low of €1.15887. The weakening of the Euro that has occurred over the past few days has had the impact of the strengthening of the Greenback against several other major currencies. In today's market trading in the Asian session, the Euro is still dominated by weakening movements against the US Dollar. In addition, the weakening of the Euro also occurred due to the weak release of German and Italian economic data. The greenback over the past few days has still dominated the gains compared to several other major currencies. The strengthening of the US Dollar is supported by the increase in bond yields with a tenor of 10 years. In addition, the positive sentiment in the market regarding the implementation of tapering and the plan to raise interest rates and cut stimulus that has been echoed by the chairman of the Federal Reserve has pushed the US Dollar to the highest level of strengthening. In the panel discussion held by the chairman of the European Central Bank (ECB) "Christine Lagarde" which was also attended by the chairman of the Central Bank of Japan (BoJ) "Haruhiko Kuroda" and the chairman of the US Central Bank (The Fed) "Jerome Powell" and also the chairman of the Bank of England (BOE) "Andrew Bailey" at the panel discussion via virtual last night. The results of their discussions included discussing the current state of the world
economy, rising inflation conditions and discussing the Covid-19 pandemic. Powell stated that the handling of Covid-19 in the US seems frustrating because people are asked to get vaccinated and are also asked to limit their activities and prevent themselves from transmitting the virus to others. In addition, Powell also emphasized that the increase in inflation that occurs in the US and generally currently in almost all countries in the world is expected and convinced to be only temporary. Powell's view was also agreed by the head of the European Central Bank "Christine Lagarde" who added that she believes that the current inflationary pressure is temporary but she cannot also hold back the inflation rate from rising and is predicted until 2022. Broadly speaking, that was the discussion of the panel discussion sponsored by the head of the European Central Bank last night.
EURUSD Technical Analysis
EURUSD daily analysis technically predicts that the trend will still be bearish/weak..
Pivot poin
The EURUSD pivot point is at 1.16249.
Support
The following is data regarding the 1, 2, and 3 supports of EURUSD.
- Support 1 = 1,15604
- Support 2 = 1,15241
- Support 3 = 1,14596
Resistance
The following is data regarding the 1, 2, and 3 resistance of the EURUSD.
- Resistance 1 = 1,16612
- Resistance 2 = 1,17257
- Resistance 3 = 1,17620
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