EUR/USD is Ready to Decline

uk.investing.com/analysis/eurusd-is-ready-to-decline-200548548

By Andrey Goilov | Nov 28, 2022 13:41

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EUR/USD

-0.05%

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On Monday, the market major is stepping back to 1.0350.

Investors are demanding more safe haven assets because the global situation is worsening.

Attention is focused, on the one hand, on the aggressive position of the US Fed in terms of interest rates. On the other hand, important macroeconomic releases are due that may give some base for revising the market viewpoint. The moods around risks are negative, which also supports interest towards the USD.

On Monday, the macroeconomic calendar is empty, but investors have to be prepared for a flow of data

On H4, EUR/USD continues forming a consolidation range around 1 0345. With an escape downwards, the wave of decline may continue to 1.0185. With an escape upwards, the price may leap up to 1.0490 and then decline to 1.0276. Technically, this scenario is confirmed by the MACD: its signal line is heading straight up, which suggests continuation of the wave of decline.

eurusd forecast

On H1, EUR/USD has formed an impulse of decline to 1.0354 and a correction to 1.0411. With a bounce off this level, the market has reached 1.0340. A consolidation range is expected to develop around this level. With an escape downwards, the wave of decline might continue to 1.0277. Technically this scenario is confirmed by the Stochastic oscillator. Its signal line is near 50. A bounce off it and further decline to 20 are expected.

eurusd forecast

Disclaimer
Any forecasts contained herein are based on the author's particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

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Central Banks

Interest Rates

Next Meeting

BOE

4.00%

Mar 23, 2023

ECB

3.00%

Mar 16, 2023

FED

4.75%

Mar 22, 2023

SNB

1.00%

Mar 23, 2023

RBA

3.10%

Feb 07, 2023

BOC

4.50%

Mar 08, 2023

RBNZ

4.25%

Feb 22, 2023

BOJ

-0.10%

Mar 10, 2023

CBR

7.50%

Feb 10, 2023

RBI

6.25%

Feb 08, 2023

PBOC

3.65%

BCB

13.75%

Mar 22, 2023

FTSE 100	7,901.80	+81.64	+1.04%
DAX	15,476.43	-32.76	-0.21%
Euro Stoxx 50	4,257.98	+16.86	+0.40%
S&P 500	4,136.48	-43.28	-1.04%
Nikkei 225	27,511.60	+109.55	+0.40%
Dow Jones	33,926.01	-127.93	-0.38%
FTSE 100 Futures	7,874.8	+80.8	+1.04%

Brent Oil	79.82	-2.35	-2.86%
Crude Oil WTI	73.23	-2.65	-3.49%
Gold	1,877.70	-53.10	-2.75%
Silver	22.390	-1.225	-5.19%
Copper	4.0312	-0.0598	-1.46%
London Cocoa	2,003.00	-9.00	-0.45%
London Wheat	227.05	0.00	0.00%

U.K. 10Y	3.0645	+0.0085	+0.28%
U.K. 5Y	2.9235	+0.0105	+0.36%
U.K. 2Y	3.2315	-0.0005	-0.02%
Germany 10Y	2.2095	+0.0145	+0.66%
U.S. 10Y	3.519	+-0.013	+-0.37%
U.S. 5Y	3.6520	+-0.0140	+-0.38%
U.S. 2Y	4.2865	+-0.0145	+-0.34%

Lloyds Banking	53.33	-0.16	-0.30%
Vodafone Group PLC	91.14	-3.70	-3.90%
Barclays	188.64	+0.24	+0.13%
BT Group	134.65	+2.25	+1.70%
HSBC	596.70	+5.70	+0.96%
BHP Group Ltd	2,780.50	+29.00	+1.05%
Exxon Mobil	111.92	+0.77	+0.69%

EUR/USD is Ready to Decline

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