Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

EUR/USD This Week

ByShahriar Motevaselolhagh
Published 2022-05-22, 12:59 p/m
Updated 2023-07-09, 06:32 a/m

EURUSD has been bearish for 50 weeks but there are some concerns now. There is a bearish Engulfing pattern in weekly DXY which is below the resistance line so we may see a little correction.




If you look at the EXY, you can also see a weekly bullish Engulfing candlestick pattern. EXY is at its low since 2017 and rebound from the last support line.



Although the trend is bearish, the commitment of traders report are kind of neutral and unemployment rate is better for US but there are other factors like inflation and GDP growth which are better for EUR while the EURUSD seasonality indicator is long in May too.
In the other hand the price touched the all time low since 2002 which is the bottom of 2016 and soared. This bullish move caused a very nice weekly bullish Engulfing candlestick pattern after 6 weeks of strong bearishness. 



There are a tiny RSI and MacD bullish divergence too which is confirmed. It is very possible to see a little bullish move in the upcoming week. It is just my opinion shared here and are for educational/informational purposes only.






Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.