Market outlook of EURUSD on Monday August 2023

2023-08-21 16:32Fonte:BtcDana

Technical Analysis
EURUSD have big potential to sell around 1.08887. 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 1.08582

Fundamental Analysis
The US dollar is currently trading at 103.43 against a basket of major currencies, down slightly from its opening level of 103.47. The dollar has been on a downward trend in recent months, as investors have begun to price in the possibility of a slowdown in the US economy. The Federal Reserve is expected to continue raising interest rates in an effort to combat inflation, but this could also weigh on economic growth.

The strength of the US dollar is also being affected by the economic performance of other countries. The euro has been under pressure in recent weeks, as the European Central Bank is expected to take a more cautious approach to raising interest rates. The Japanese yen has also weakened, as the Bank of Japan continues to maintain its ultra-loose monetary policy.


 DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete

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