EUR/USD Stabilises, Considers Trump’s Impact

November 8, 2024

By RoboForex Analytical Department

EUR/USD is settling around 1.0785, assessing the market impact of this week’s events. With Donald Trump’s return as US President, the market is recalibrating expectations around inflation and economic policies that his administration may reintroduce.

Trump’s protectionist stance could stir inflationary pressures, prompting the Federal Reserve to maintain higher interest rates than anticipated. This potential for elevated rates is boosting the dollar’s appeal.

Yesterday, the Federal Reserve cut interest rates by 25 basis points to 4.75% in line with market predictions. The Fed’s commentary suggested no deviations from its planned rate trajectory, hinting at continued easing.

Looking ahead, another rate reduction of 25 basis points is expected at the Fed’s December meeting, continuing its cautious but steady approach to monetary easing.

Technical analysis of EUR/USD


Free Reports:

Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.





Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter





The EUR/USD pair has completed a bullish move towards 1.0820, as part of an ongoing upward impulse. Current market behaviour suggests a retracement to 1.0758 before resuming its ascent towards 1.0833. This outlook is supported by the MACD indicator, which, although below zero, is trending upwards, signalling a potential bullish continuation.

The hourly frame shows EUR/USD undergoing a corrective phase to 1.0758. Upon reaching this level, a rebound to 1.0833 is expected, followed by another potential pullback to 1.0758. The stochastic oscillator supports this outlook, with its signal line poised to rise towards 80, suggesting increasing bullish momentum.

 

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.

InvestMacro

Share
Published by
InvestMacro

Recent Posts

Japanese Yen Speculators continue to sharply boost their bullish positions

By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…

1 day ago

Speculator Extremes: Steel, US Treasuries & Yen lead weekly Bullish Bets

By InvestMacro  The latest update for the weekly Commitment of Traders (COT) report was released…

1 day ago

COT Metals Charts: Speculator bets led by Platinum, Copper & Steel

By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…

1 day ago

COT Bonds Charts: Speculator Bets led by 5-Years, US Treasury Bonds & Ultra 10-Years

By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…

1 day ago

COT Soft Commodities Charts: Speculator Bets led by Wheat, Cotton & Sugar

By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…

1 day ago

COT Stock Market Charts: Speculator Bets led by MSCI EAFE & DowJones

By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…

1 day ago