TriumphFX – Forex Analysis – EUR Pairs – October, November & December 2021


Previous analysis… https://analysis.tfxi.com/2021/08/04/triumphfx-forex-analysis-eur-pairs-july-august-september-2021/

EURCHF – Daily Chart

EURCHF Daily Chart

As suggested in our last analysis, price has been bearish.

EURCHF has recently been moving sideways, signalling market indecision. Price is potentially ranging between 1.0710 and 1.0930. The moving averages confirm the current indecision – they are moving sideways. EURCHF is also indecisive on higher time-frames.

Trading opportunities may exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). A break to the downside could find support around 1.0670. A break to the upside could find resistance around 1.0970, 1.1000, 1.1055 and 1.1120.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. They have said that no rate change is expected in the near or distant future. Inflation targets and economic growth forecasts have been lifted for this year.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB recently announced that it will continue to intervene with in foreign exchange markets but will likely keep rates unchanged until 2022. The Swiss economy is recovering from COVID and seems stable.

EURGBP – Daily Chart

EURGBP Daily Chart

Price has been moving sideways, as suggested in our last chart analysis.

EURGBP is indecisive and is lacking trend momentum. Price is moving sideways and is ranging between 0.8465-0.8660 and 0.8465-0.8720. The moving averages confirm the market indecision – they are tight and moving sideways. EURGBP is also indecisive on higher time-frames.

Trading opportunities could exist around the support and resistance areas of the ranges and if price moves out of the ranges (break-out trade). A break to the upside may find resistance around 0.8870 and 0.9140.

The Bank of England (BOE) continue to keep rates at the record low at 0.10%. Recent economic figures have been more positive than expected, although inflation fears have been mentioned by many.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. They have said that no rate change is expected in the near or distant future. Inflation targets and economic growth forecasts have been lifted for this year.

EURJPY – Daily Chart

EURJPY Daily Chart

As suggested in our last EUR chart analysis, the EURJPY reversed around 128.45 and has since been bullish.

Price was looking indecisive for a while but is now showing potential upside – the EURJPY has broken above a range resistance area and is forming a swing higher. The daily moving averages continue to signal market indecision though – they are moving sideways.

Buying opportunities may exist around the dynamic support of the moving averages and around any of the identified horizontal levels at 130.65, 128.00 and 127.35. A bullish move could find resistance around 134.00.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. They have said that no rate change is expected in the near or distant future. Inflation targets and economic growth forecasts have been lifted for this year.

The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is expected to make a moderate recovery from the COVID crisis but some analysts are stating that the Japanese economy is stagnant and may experience economic challenges in the coming months.

EURUSD – Daily Chart

EURUSD Daily Chart

The EURUSD has been bearish.

Price action has formed a series of lower swing highs and lower swing lows, signalling a downtrend. Price action has also formed a bearish channel. The moving averages are bearish and widening, suggesting that the downside momentum may continue. The EURUSD is also indecisive on higher time-frames.

Selling opportunities could exist around the bearish channel resistance area, around the dynamic resistance of the moving averages and around any of the horizontal levels at 1.1620, 1.1670, 1.1890 and 1.2250.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery. The current rate is set at 0.25% (record lows). The US economy is bouncing back quicker than originally expected and is making a strong economic recovery post-COVID. Inflation has elevated and may continue to do so in the coming months.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. They have said that no rate change is expected in the near or distant future. Inflation targets and economic growth forecasts have been lifted for this year.

Start trading today with Triumph’s Forex MT4 trading platform – https://www.tfxi.com/