EUR/USD Facing a support

in hive-108451 •  3 years ago  (edited)

Hello Guys. Hope you're doing well. I'm Tanmoy Sadhu going to show some of my analysis about Monday Trade on EURUSD.
Looking at the fundamental of the Euro it is clear, the currency is about to continue it's downfall.
~1 In the last ECB press conference, the president of ECB has uttered about rate hike as their inflation is marching higher and higher. But the problem is that many members of the ECB have their opinion on the other side of the poll. They demand immediate normalization in the step ahead of monetary policy which could be a reason to be devalued the Euro against USD.
~2 Russia is consistently launching big bang in the neighborhood of the EU which could be a hindrance of EU business deal to other partners. And EU is still in the shortage of energy and commodity supply.
~3 Due to the French Presidential election, traders and investors keep a safe distance from this risky economical situation.

To conclude, I am fundamentally bearish on EUR.

##USD##
~1 The Fed is in the peak hawkishness right now, actually after the Fed president talking of hiking rate in 300bps in march. That is a big reason traders and investors are being attracted to USD. After this decision on 07.04.2022, all the pair against USD falls more or less.
~2 Look. China, EU and England has got the COVID pandemic while Russia-Ukraine issue has already a big harm to the economy of the world, specially in EU and Asia.
And USD is always appreciated when such pandemic and geopolitical issues happen in the world economy.

09 eurusd2.PNG
Image source :Tradingview, prepared by me

These are the reasons, I am very bullish on USD
If you like my analysis, follow me for further updates. Thank You
by @tanmoy17

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great insight sir. thanks for the update

you're welcome