Euro Weekly Forecast: Geopolitics And Heavyweight US Data Will Run EUR/USD Next Week

Date

4/20/2024 4:34:32 AM

(MENAFN- DailyFX) orecast: Geopolitics and Heavyweight US Data Will Run EUR/USD Next Week Skip to Content

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here , or by following the LINK at the bottom of any page on our site. See our updated Privacy Policy here .

Search Search results No entries matching your query were found.

Englis
日本

- Market Overview
- Real-time News
- Economic Calendar
- Market Themes
- EUR/USD News
- Gold News
- Oil - US Crude News
Recent Market News Headlines
Apr 19, 2024 Japanese Yen Sentiment Analysis & Outlook: USD/JPY, EUR/JPY, GBP/JPY Apr 19, 2024 US Dollar Braced for Further Swings in Risk as Middle East Conflict Escalates Apr 19, 2024 Gold Price Update: Israeli Attack Lifts Safe Haven Appeal, Weighs on Risk Assets
Free Guide

Introduction to Forex News Trading
- Technical Analysis
- Analyst Picks
- Forecasts
- Market Outlook
- DailyFX TV
Recent Trading Strategies Headlines
Apr 20, 2024 Euro Weekly Forecast: Geopolitics and Heavyweight US Data Will Run EUR/USD Next Week Apr 19, 2024 British Pound Weekly Forecast: Lighter Data Week Could Mean Some Respite Apr 19, 2024 Will US Growth and Inflation Provide the Next Leg Higher for the Greenback?
Free Guide

The Fundamentals of Range Trading
- EUR/USD
- GBP/USD
- AUD/USD
- USD/JPY
- All currencies
- Major currency pairs
Recent Currencies Headlines
Apr 20, 2024 Euro Weekly Forecast: Geopolitics and Heavyweight US Data Will Run EUR/USD Next Week Apr 19, 2024 British Pound Weekly Forecast: Lighter Data Week Could Mean Some Respite Apr 19, 2024 Japanese Yen Sentiment Analysis & Outlook: USD/JPY, EUR/JPY, GBP/JPY Apr 19, 2024 US Dollar Braced for Further Swings in Risk as Middle East Conflict Escalates
- Oil - US Crude
- Gold
- Silver
- Natural Gas
- All commodities
- Major commodities
Recent Commodities Headlines
Apr 19, 2024 US Dollar Braced for Further Swings in Risk as Middle East Conflict Escalates Apr 19, 2024 Gold Price Update: Israeli Attack Lifts Safe Haven Appeal, Weighs on Risk Assets Apr 18, 2024 The Impact of Geopolitical Tensions on Oil Prices Apr 18, 2024 Market Sentiment Analysis & Outlook: Gold, Silver, Crude Oil
- Wall Street
- US 500
- US Tech 100
- FTSE 100
- All stocks
- Major stock indices
Recent Stocks Headlines
Apr 19, 2024 FTSE 100, DAX 40 and S&P 500 drop on Israel retaliatory strike on Iran Apr 18, 2024 Trading the Giants: Strategies for the S&P 500, Nasdaq 100, FTSE 100, and DAX 40 Apr 18, 2024 Dow retreat slows and S&P 500 holds above 5000, while Hang Seng rallies sharply Apr 17, 2024 Market Sentiment Analysis and Outlook: Crude Oil, Dow 30, AUD/USD
- Bitcoin
- Ethereum
- Litecoin
- All cryptocurrencies
- Major cryptocurrencies
Recent Cryptocurrencies Headlines
Apr 15, 2024 Bitcoin (BTC), Ethereum (ETH) Rally on Hong Kong Spot ETF Approval Rumors Apr 8, 2024 Bitcoin (BTC) Nears New All-Time High as Halving Event Looms, Coinbase (COIN) Benefits Apr 3, 2024 Market Q2 Forecasts: US Dollar, Gold, Euro, Oil, Bitcoin, Yen, Equities Outlooks Mar 31, 2024 Markets Q2 Outlook: Gold, Stocks, Bitcoin, US Dollar, Euro, Pound, Yen. What's Ahead?
- Rates
- Earnings Calendar
- Sentiment
- DNA FX
- Economic Calendar
- Live Chart
- Support & Resistance
- View All Tools
Free Guide

How to Use IG Client Sentiment in Your Trading

Trading Tools

Rates
Live forex rates at a glance

Earnings Calendar
Keep track of companies that are about to announce their earnings

Sentiment
Discover who is going long and short

DNA FX
Check what kind of trader you are

Economic Calendar
Explore key global events on the horizon

Live Chart
Latest price data across forex and major assets

Support & Resistance
View S&R levels for forex, commodities and indices

View All Tools
Economic Calendar
04:00:00 Medium Balance of Trade(Mar) Actual Forecast PreviousRevised $0.87B
04:30:00 Medium Consumer Confidence(Apr) Actual Forecast PreviousRevised -22
09:00:00 Medium Government Budget to GDP(2023) Actual Forecast PreviousRevised -3.6%
11:30:00 Medium BCB Focus Market Readout() Actual Forecast PreviousRevised

Economic Calendar
Earnings Calendar
Central Bank Calendar

FOMC
ECB
BOE
BOC
Free Trading Guides

Forex for Beginners

Traits of Successful Traders

Cryptocurrency Trading
View All
Free Trading Guides
- Trading Courses
  - Forex Trading Basics
  - Understanding the Stock Market
  - Commodities Trading
  - Forex for Beginners
- Free Trading Guides
- Trading Research
- Company
- Authors
- Contact
- English
- 日本語
Select Live Webinar Events0 Economic Calendar Events0
Notify me about

H
High
M
Medium
L
Low
Host: Duration: min 08:28:00 widgets/economicCalendar._abbr () Actual Forecast PreviousRevised EUR/USD Bullish
14h Last updated:Apr 19, 2024
Long Short
Note: Low and High figures are for the trading day.
Data provided by News US Dollar Still on Bullish Path; Setups on EUR/USD, GBP/USD, USD/JPY, USD/CAD 2024-04-17 23:00:00 Euro Price Forecast: EU Inflation Data Bolsters Case for June Rate Cut 2024-04-17 14:10:48 Oil - US Crude Bearish
14h Last updated:Apr 19, 2024

Long Short
Note: Low and High figures are for the trading day.
Data provided by News The Impact of Geopolitical Tensions on Oil Prices 2024-04-18 18:00:03 Market Sentiment Analysis & Outlook: Gold, Silver, Crude Oil 2024-04-18 17:00:00 Wall Street Bullish
14h Last updated:Apr 19, 2024

Long Short
Note: Low and High figures are for the trading day.
Data provided by News Dow retreat slows and S&P 500 holds above 5000, while Hang Seng rallies sharply 2024-04-18 10:04:10 Market Sentiment Analysis and Outlook: Crude Oil, Dow 30, AUD/USD 2024-04-17 17:00:00 Gold Mixed
14h Last updated:Apr 19, 2024

Long Short
Note: Low and High figures are for the trading day.
Data provided by News US Dollar Braced for Further Swings in Risk as Middle East Conflict Escalates 2024-04-19 10:30:14 Gold Price Update: Israeli Attack Lifts Safe Haven Appeal, Weighs on Risk Assets 2024-04-19 08:10:07 GBP/USD Mixed
14h Last updated:Apr 19, 2024

Long Short
Note: Low and High figures are for the trading day.
Data provided by News British Pound Trade Setups & Technical Analysis: GBP/USD, EUR/GBP, GBP/JPY 2024-04-18 23:00:05 Pound Sterling Latest: BoE Inflation Nod Hampers GBP Recovery 2024-04-18 14:39:53 USD/JPY Bullish
14h Last updated:Apr 19, 2024

Long Short
Note: Low and High figures are for the trading day.
Data provided by News Japanese Yen Sentiment Analysis & Outlook: USD/JPY, EUR/JPY, GBP/JPY 2024-04-19 15:30:00 USD/JPY Latest: Trilateral Meeting Hints at Co-ordinated Intervention Effort 2024-04-18 11:11:21 MoreView More

GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator ...
Monetary Policy Inflation Recession More
Share:

Euro Weekly Forecast: Bearish

ECB messaging on rates is clear.
Escalating Middle East tensions control the short-term market narrative.
Preliminary Q1 GDP and Core PCE among next week's heavyweight data releases.

Our Q2 Euro Technical and Fundamental Forecasts are free to download
Recommended by Nick Cawley Get Your Free EUR Forecast Get My Guide
The European Central Bank is set to change its monetary policy stance soon and start cutting interest rates with the next ECB meeting in June the likely start date, according to various ECB voting members. After President Lagarde gave a nod to the June 6th meeting back in March, the messaging coming from various central bank members since then has been clear and nearly unanimous, if inflation continues to move lower, interest rates are coming down. With the June meeting seen as a done deal, talk has already moved on to the second rate cut with the July meeting mooted by some. This has weighed on the single currency over the past weeks and with the Fed now seen lowering rates much later in the year, EUR/USD will struggle to move higher.
The latest escalation in the Israel-Iran conflict – Israel's drone attack on Isfahan in Iran – prompted a sharp risk-off across markets today, including a US dollar haven bid. Iran later said that they had no 'immediate plans' to retaliate, hopefully drawing the two sides back from the edge of a full-blown conflict.
US Dollar Braced for Further Swings in Risk as Middle East Conflict Escalates
Next week is packed with economic and sentiment data releases, including the latest global PMI releases along with the first look at US Q1 GDP and the Fed's preferred measure of inflation Core PCE. And to add to potential market volatility, some heavyweight companies report next week, including tech giants Microsoft and Alphabet, an underfire Tesla, along with some traditional stalwarts including General Electric, Ford, Intel, Chevron, and Exxon.
For a detailed list of high-impact data and events, see the real-time DailyFX Economic Calendar
For a detailed list of quarterly US earning releases, see the DailyFX Earnings Calendar
This week's price action suggests that EUR/USD may struggle to break above 1.0700 convincingly. All three simple moving averages are in a bearish set-up, while the CCI indicator is moving out of oversold territory. Support is seen off the 38.2% Fibonacci retracement at 1.0610 before 1.0600 comes into play.
Learn How to Trade EUR/USD with our Expert Guide
Recommended by Nick Cawley How to Trade EUR/USD Get My Guide EUR/USD Daily Price Chart

Retail trader data shows 66.33% of traders are net-long with the ratio of traders long to short at 1.97 to 1.The number of traders net-long is 2.70% higher than yesterday and 3.63% lower than last week, while the number of traders net-short is 10.03% lower than yesterday and 13.43% higher than last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/USD prices may continue to fall.
EUR/USDBullish Data provided by

of clients are net long. of clients are net short.

Change in	Longs	Shorts	OI
Daily	-10%	-4%	-8%
Weekly	-13%	35%	0%

What does it mean for price action? Get My Guide

What is your view on the EURO – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1 .

MENAFN20042024000076011015ID1108117482

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.