$EUR The Euro continues to surge, pushing past key resistance levels. Traders are bracing for more volatility as global market tensions rise. Will the Euro maintain its momentum or face a sharp reversal? Stay tuned, the action is just beginning.$EUR

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Czech Crown to Lead Central European Currencies as Forint Lags Behind

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The Czech crown is expected to outperform other Central European currencies in the coming year, buoyed by economic recovery and a slower pace of interest rate cuts, according to a Reuters poll. The crown is forecasted to rise 2.2% against the euro, supported by a strong balance of payments and favorable global monetary trends. Poland’s zloty is also seen gaining, benefiting from robust economic performance and a steady central bank policy. In contrast, Hungary’s forint and Romania’s leu are predicted to struggle, with the forint likely to see a 0.3% decline and the leu a 0.9% drop against the euro.

Euro in a Downtrend : Sell EUR/USD

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EUR/USD remains in a downtrend on the weekly timeframe. Currently, the pair is undergoing a correction/rejection phase, signaling potential downward pressure.

A key support level is set at 1.05, and if the pair closes below this level on the weekly chart, it could trigger a larger down move. The next target could see EUR/USD fall below parity, signaling a significant bearish trend.

Traders should be cautious of upcoming movements and monitor the confirmation of this weekly close for a potential sell opportunity.

🔴 Goldman Sachs says the euro could fall by up to 10% under Trump's tariffs and a scenario of lowering local taxes in the United States.

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📈 Euro's recent movements prompt reevaluation:
- Departure from usual patterns raises questions about established symmetrical rules.
- Shift may require reassessment of rules or indicate potential flaw in analysis.
- Strong rally in April could reaffirm expectations for ideal behavior.

🔄 Insights from Neowave Analysis:
- Complex or unclear market structure necessitates close observation of price behavior.
- Turbulent rally in June 2023 swiftly followed by slower decline (Wave-F), signaling weakening uptrend.
- Subsequent rally in Wave-G, reaching same price level as Wave-E, took longer to unfold, hinting at underlying weakness and potential trend reversal.

💡 Conclusion:
- Euro's deviations from established rules underscore importance of adapting analysis techniques to evolving market conditions.
- Close monitoring of price behavior and recognition of subtle trend indicators essential for navigating Euro's movements with confidence and accuracy.

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Euro's Recent Movements Raise Questions: Insights from Neowave Analysis

The Euro has recently shown unusual movements, deviating from its typical patterns and prompting a reevaluation of established symmetrical rules. This shift may require a reassessment of these rules or could indicate a potential flaw in current analysis methods. However, a robust rally in April could help reinforce expectations for typical behavior.

According to Neowave principles, observing price behavior becomes crucial when market structure appears complex or unclear. For instance, the Euro experienced a turbulent rally in June 2023, followed by a slower decline (Wave-F) that completely retraced the previous gains. This retracement suggests a weakening uptrend for the Euro.

Moreover, the subsequent rally in Wave-G, despite reaching the same price level as Wave-E, unfolded at a much slower pace. This extended consolidation indicates underlying weakness in the Euro, hinting at a potential reversal in its trend.

In summary, the Euro's recent deviations from established symmetrical rules underscore the need to adapt analysis techniques to changing market conditions. By closely monitoring price behavior and identifying subtle indicators of trend strength, traders and analysts can navigate the complexities of the Euro's movements with enhanced confidence and precision.

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JUST IN: Quantoz, a Dutch fintech firm supported by Kraken and Tether, has introduced MiCA-compliant stablecoins EURQ and USDQ, backed by fiat reserves, as the European stablecoin market prepares for new regulations.

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The euro is awaiting the NFP data today

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EURUSD
The euro (EUR) rose by 0.25% yesterday due to weaker-than-expected U.S. labour reports. EURUSD tested the local support level at 1.10800 and continued its upward trend.

Possible effects for traders
Recent U.S. economic data has increased investors' expectations of a 50-basis-point (bps) interest rate reduction at the next Federal Reserve (Fed) meeting in September. According to the CME FedWatch Tool, the market now estimates a 47% likelihood of a sharp 50-bps cut in the federal funds rate, up from 31% earlier in the week.

Today, the U.S. Bureau of Labor Statistics will release August's nonfarm payroll (NFP) data at 12:00 a.m. UTC. Experts expect the report to show an increase of 160,000 added jobs compared to the previous month's 114,000. Any significant deviation from the forecast could lead to significant volatility in U.S. dollar-related currencies. Data from the U.S. labour market is crucial in determining future interest rate changes, as it helps the Federal Reserve better understand the current state of the economy.

The release of the NFP data will influence today's EURUSD movements and cause increased market volatility. If the NFP data is weaker than expected, EURUSD may reach the resistance level at 1.11600 and continue rising towards the previous month's highs at 1.12000 in case of breaking above the resistance. Otherwise, string NFP figures bring EURUSD down

Euro's Unusual Moves Prompt Reevaluation: Insights from Neowave Analysis

In a departure from its usual patterns, the Euro's recent movements have raised questions about the reliability of established symmetrical rules. This shift may necessitate a reassessment of these rules or could indicate a potential flaw in the current analysis. Conversely, a strong rally in April could help to reaffirm expectations for ideal behavior.

According to Neowave principles, when market structure appears complex or unclear, observing price behavior becomes crucial in determining the trend. One notable instance is the Euro's turbulent rally in June 2023, which was swiftly followed by a slower decline (Wave-F) that completely retraced the gains. This retracement suggests a weakening uptrend for the Euro.

Furthermore, the subsequent rally in Wave-G, while reaching the same price level as Wave-E, took considerably longer to unfold. This prolonged consolidation hints at underlying weakness in the Euro, signaling a potential reversal in its trend.

In conclusion, the Euro's recent deviations from established symmetrical rules highlight the importance of adapting analysis techniques to evolving market conditions. By closely monitoring price behavior and recognizing subtle indicators of trend strength, traders and analysts can navigate the complexities of the Euro's movements with greater confidence and accuracy.

#BullorBear #euro #eurousdt #EURO2024