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New profits from the weakening of the EURUSD, GBPUSD and AUDUSD dollars

New profits from the weakening of the EURUSD, GBPUSD and AUDUSD dollars

EURUSD chart analysis

Looking at the EURUSD chart in the daily time frame, we see that the pair has made a good shift from 1.15250 yesterday to the current 1.16100 and is currently testing a 20-day moving average. If the dollar continues to fall, the pair can continue to rise very easily towards the next resistance in zone 1.16500-1.17000. In a broader sense, as long as we are in this down channel, we are still prone to bearishness. Therefore, to strengthen the bullish trend, we need to break above the top line of the channel. After that, you can expect to rest until the previous high of 1.19000. For the bearish trend, we need to continue the negative integration towards the previous low of 1.15250 for the EURUSD pair.

GBPUSD Chart Analysis

Looking at the GBPUSD chart in the daily time frame, we can see that the pair provokes a bullish urge, rising to 32.8% Fibonacci levels at 1.37300. We are currently testing this Fibonacci level and a 50-day moving average. Breaks above this level are required to continue further. Then the next upper limit resistance is the zone near the 50.0% Fibonacci level of 0.38300. Our additional resistance is the 200-day moving average and the uptrend line. Due to the bearish trend, we need to withdraw from this current resistance zone. Further withdrawal of GBPUSD will lead to the previous resistance zone of 23.6% Fibonacci level of 1.36000, supported by a 20-day moving average.

AUDUSD chart analysis

Looking at the AUDUSD chart in the daily time frame, we can see that the pair found support at 0.72000 in early October and then started a bullish trend. Currently it is 0.74100. Now we can expect to visit the previous resistance zone at 0.75000 soon, and the above additional resistance on a 200-day moving average is waiting for us. For bearish trends, negative integration is needed with the goal of retesting the zone at 0.73000. If AUDUSD can’t find support there, it can easily deviate from the previous support level in Chart 0.71000-0.72000.

Market overview

Germany’s best economic institutions have upgraded their 2022 economic growth forecasts, but lowered their forecasts this year due to manufacturing shortages.

Gross domestic product will increase by 2.4% this year from the estimated 3.7% in April, according to economic forecasts for the fall of 2021.

The 2022 forecast has been revised from 3.9% to 4.8%. Growth of 1.9% is expected in 2023.

Private consumption may return to normal within the next year. As supply bottlenecks decrease, production capacity increases again, the institute said. Employment is expected to continue increasing and the unemployment rate is expected to drop to 5.7% this year and 5.3% next year.

Inflation is projected to remain high for now. The Institute predicts a 2.5% increase in consumer prices in 2022 and a 1.7% increase in 2023, after 3% this year.

The Ministry of Economy said economic development in the fourth quarter is likely to be slow. The ministry expects industrial production to remain slow and slow in the coming months.

post New profits from the weakening of the EURUSD, GBPUSD and AUDUSD dollars First appeared Finance Brokerage..

New profits from the weakening of the EURUSD, GBPUSD and AUDUSD dollars

https://www.financebrokerage.com/eurusd-gbpusd-audusd-new-gains-due-to-weak-dollar/ New profits from the weakening of the EURUSD, GBPUSD and AUDUSD dollars

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