Technical Analysis
EURUSD have big potential to sell around 1.09645. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of buyers took profit and sellers decided to involve in. Based on volume indicator the momentum for buyer is weakening. Target price at 1.09288
Fundamental Analysis
The US dollar economic condition as of August 14, 2023 is as follows:
The US GDP growth rate is expected to slow to 1.8% in Q2 2023, the slowest pace in a year.
Inflation is expected to moderate to 3.0% in June, down from May's 4.0%. However, it is still above the Fed's 2% target.
The unemployment rate is expected to remain at 3.5% in July.
The Federal Reserve is expected to continue raising interest rates in an effort to combat inflation.
The US stock market is volatile, with the S&P 500 index down 17.5% year-to-date.
The US dollar is strengthening against other major currencies, as investors seek safety in the US economy.
Overall, the US economy is facing some headwinds, including slowing growth, high inflation, and rising interest rates. However, the labor market remains strong, and the unemployment rate is at a record low. The Federal Reserve is taking steps to combat inflation, and the US dollar is strengthening. This suggests that the US economy is still in a relatively good position, but there are some risks to watch out for.
DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete
