EURUSD Daily Analysis: September 30, 2021 - Euro Weakens

EURUSD analysis for September 30, 2021

[caption id="attachment_7203" align="alignnone" width="1029"] Photo Source: Nurhakim via GIC[/caption] The US Dollar Currency still exists and is stable on its strengthening path. The strengthening of the US Dollar was supported by the increase in US government bond yields for 10-year tenors. In addition, the effect of confidence that tapering will soon start in November, as well as the plan to raise interest rates plus the tone of the existing stimulus reduction discourse, will further make the US Dollar currency very solid to strengthen. 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. Today's technical analysis: if the EURUSD movement is able to break through Support 1 at the level of 1.15604 then there is a high chance that it will continue its movement towards Support 2 at the level of 1.15241, but if it is not able to continue its weakness, then the EURUSD movement will return to the Pivot Point at the level of 1.16249 even if the condition of the US Dollar weakens even if it is limited, then there is a great chance that the movement of the Euro will go towards Resistance 1 at the level of 1.16612 and if the Resistance 1 level can be passed then the direction of the the next move will be towards Resistance 2 at the level of 1.17257. For Fundamental Analysis tonight, there will be another ad agenda Fed Chair Powell Testifies which will start at 21:00 WIB. Powell plans to hold a meeting with Treasury Secretary Janet Yellen who will discuss monetary policy and also existing interest rate opportunities as well as the current economic and pandemic conditions in the US. Keep a good eye on Money Management and Risk Management to protect your funds. That's it for the discussion of "EURUSD Daily Analysis: September 30, 2021". Be sure to look for other information about forex and finance such as "Learn Forex", only in the GIC Journal. If you want to learn more about forex, then you can join the forex academy, read scalping ebooks, join NFP Live Trading, and also watch premium content videos and Trading for Freedom videos from GIC.