EUR/USD Analysis: 19th July 2024 Current Market Conditions
Euro ne apni downward trend US Dollar ke muqable mein barqarar rakhi hui hai, jo ke Asian session mein 1.0890 ke qareeb trade kar raha hai. Ye girawat zyadatar strong US Dollar ki wajah se hai, jo ke market mein barhawa dar aversion ki wajah se support mil raha hai. Rising US Treasury yields ne Dollar ko support diya hai. Magar, Dollar ki upward momentum kamzor US employment data ki wajah se limited ho sakti hai. Recent increase in unemployment claims ne Federal Reserve ke interest rates ko September mein cut karne ki speculation ko barhawa diya hai. Market expectations for a rate cut 93.5% tak barh gayi hain, jo ke aik hafta pehle 85.1% thi. Iske muqable mein, European Central Bank ne apni key refinancing rate ko 4.25% par barqarar rakha apni July monetary policy meeting mein, jaisa ke anticipated tha.
Technical Analysis
Support and Resistance Levels
Immediate Support: 1.0928
Secondary Support: 1.0898
Critical Support: 1.0870 (50-period moving average)
Immediate Resistance: 1.0945
Secondary Resistance: 1.0960-1.0972
Key Resistance: 1.1000
Major Resistance: 1.1045
Current Price Action
Support Levels: EUR/USD pair ko immediate support 1.0928 par hai. Agar ye level break ho jata hai to ye further decline karke 1.0898 tak ja sakta hai. Agar pair decisively 1.0898 se neechay close karta hai, to uptrend risk mein aa jayegi. 50-period moving average ke neeche 1.0870 break ho jata hai to ye bearish reversal ko confirm karega, aur potential targets 1.0850 tak ja sakte hain.
Resistance Levels: Upper side par, 1.0945 level significant resistance hai, jo pehle pair ke upward movement ko cap kar chuka hai. Is level ko break karna, jo 2021-2022 downtrend ka 50% Fibonacci retracement bhi hai, bullish signal hoga. Subsequent resistance 1.0960-1.0972 area ke qareeb hai, followed by 1.1000 level aur potentially 1.1045.
Overall, EUR/USD currently pressure mein hai due to a combination of factors including a stronger US Dollar, rising US Treasury yields, aur market expectations for a Fed rate cut. Jab tak koi significant shift market sentiment ya economic data mein nahi aata, overall trend bearish lag raha hai.
Euro ne apni downward trend US Dollar ke muqable mein barqarar rakhi hui hai, jo ke Asian session mein 1.0890 ke qareeb trade kar raha hai. Ye girawat zyadatar strong US Dollar ki wajah se hai, jo ke market mein barhawa dar aversion ki wajah se support mil raha hai. Rising US Treasury yields ne Dollar ko support diya hai. Magar, Dollar ki upward momentum kamzor US employment data ki wajah se limited ho sakti hai. Recent increase in unemployment claims ne Federal Reserve ke interest rates ko September mein cut karne ki speculation ko barhawa diya hai. Market expectations for a rate cut 93.5% tak barh gayi hain, jo ke aik hafta pehle 85.1% thi. Iske muqable mein, European Central Bank ne apni key refinancing rate ko 4.25% par barqarar rakha apni July monetary policy meeting mein, jaisa ke anticipated tha.
Technical Analysis
Support and Resistance Levels
Immediate Support: 1.0928
Secondary Support: 1.0898
Critical Support: 1.0870 (50-period moving average)
Immediate Resistance: 1.0945
Secondary Resistance: 1.0960-1.0972
Key Resistance: 1.1000
Major Resistance: 1.1045
Current Price Action
Support Levels: EUR/USD pair ko immediate support 1.0928 par hai. Agar ye level break ho jata hai to ye further decline karke 1.0898 tak ja sakta hai. Agar pair decisively 1.0898 se neechay close karta hai, to uptrend risk mein aa jayegi. 50-period moving average ke neeche 1.0870 break ho jata hai to ye bearish reversal ko confirm karega, aur potential targets 1.0850 tak ja sakte hain.
Resistance Levels: Upper side par, 1.0945 level significant resistance hai, jo pehle pair ke upward movement ko cap kar chuka hai. Is level ko break karna, jo 2021-2022 downtrend ka 50% Fibonacci retracement bhi hai, bullish signal hoga. Subsequent resistance 1.0960-1.0972 area ke qareeb hai, followed by 1.1000 level aur potentially 1.1045.
Overall, EUR/USD currently pressure mein hai due to a combination of factors including a stronger US Dollar, rising US Treasury yields, aur market expectations for a Fed rate cut. Jab tak koi significant shift market sentiment ya economic data mein nahi aata, overall trend bearish lag raha hai.
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