{"id":3431,"date":"2023-07-24T14:02:11","date_gmt":"2023-07-24T14:02:11","guid":{"rendered":"https:\/\/blog.trive.com\/?p=3431"},"modified":"2023-07-24T14:02:12","modified_gmt":"2023-07-24T14:02:12","slug":"eurusd-opens-central-bank-interest-rate-decision-week-on-bearish-momentum","status":"publish","type":"post","link":"https:\/\/blog.trive.com\/de\/handel\/eurusd-opens-central-bank-interest-rate-decision-week-on-bearish-momentum\/","title":{"rendered":"EURUSD Opens Central Bank Interest Rate Decision Week On Bearish Momentum"},"content":{"rendered":"<p><em>Piece written by Mfanafuthi Mhlongo, Trive Financial Market Analyst<\/em>\u00a0<\/p>\n\n\n\n<p>The EURUSD currency pair opened the crucial central banks\u2019 interest rate decisions week on the backfoot after disappointing services and manufacturing PMI data from the Eurozone weighed on the Euro during the session. The manufacturing PMI fell to its lowest in three years, after reaching 42.7 in July from&nbsp; 43.4 in June, while the services and composite PMI came in at 51.1 and 48.9, respectively, from 52.0 and 49.9 achieved in June.&nbsp;<\/p>\n\n\n\n<p>The softer-than-expected economic data from the Eurozone weighed on the cross, helping it reach a two-week low ahead of the highly anticipated interest rate decisions from the Fed on Wednesday, 26 July 2023, and the ECB on Thursday, 27 July 2023. The market is firmly expecting a 25-basis point rate hike from the respective banks, with the subsequent remarks towards the potential monetary policy path from the banks likely to have as high impact on the cross in the upcoming sessions.&nbsp;<\/p>\n\n\n\n<p><strong>Technische Analyse<\/strong>&nbsp;<\/p>\n\n\n\n<p>The 4H chart shows that the cross is currently under bearish pressure following the release of PMI data from the Eurozone, with the price action firmly trading below the 50-EMA (blue line) and the daily pivot point. Therefore, should the bearish momentum persist, a short-term trading opportunity could exist as the price action moves towards the 50% and 61.80% Fibonacci retracement levels at 1.10563 and 1.10043. A break below the 61.80% Fibonacci retracement level could trigger a run towards lower levels, with the major support level at 1.08360 (red line) likely to act as a level of interest.&nbsp;<\/p>\n\n\n\n<p>However, should upside momentum prevail, short-term trading opportunities could exist as the price action moves towards the 50-EMA, with the 23.60% Fibonacci retracement level at 1.11726 likely to act as the next level of interest. A sustained break above the level would bring the major resistance level at 1.12758 (green line) into play.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"555\" src=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/07\/image-47-1024x555.png\" alt=\"\" class=\"wp-image-3432\" srcset=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/07\/image-47-1024x555.png 1024w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/07\/image-47-300x162.png 300w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/07\/image-47-768x416.png 768w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/07\/image-47-18x10.png 18w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/07\/image-47.png 1381w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Zusammenfassung<\/strong>&nbsp;<\/p>\n\n\n\n<p>The cross started the week on the back foot, declining below the 1.11 price level before the bulls recouped some of the losses, and traders could expect the volatility experienced in Monday\u2019s session to persist as the market turns their focus to the central banks\u2019 interest rate decision due later this week. Thus, traders could keep a keen eye on the 1.11726 and 1.10563 price levels for potential short-term trading opportunities.&nbsp;<\/p>\n\n\n\n<p><strong>Quellen<\/strong>: Tradingview, Trading Economics, Reuters, Dow Jones Newswire.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"<p>Piece written by Mfanafuthi Mhlongo, Trive Financial Market Analyst\u00a0 The EURUSD currency pair opened the crucial central banks\u2019 interest rate decisions week on the backfoot after disappointing services and manufacturing PMI data from the Eurozone weighed on the Euro during the session. The manufacturing PMI fell to its lowest in three years, after reaching 42.7 [&hellip;]<\/p>","protected":false},"author":15,"featured_media":2644,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.10 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EURUSD Opens Central Bank Interest Rate Decision Week On Bearish Momentum - Trive Blog<\/title>\n<meta name=\"description\" content=\"The EURUSD currency pair opened the crucial central banks\u2019 interest rate decisions week on the backfoot after disappointing services and manufacturing PMI data from the Eurozone weighed on the Euro during the session.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.trive.com\/de\/handel\/eurusd-opens-central-bank-interest-rate-decision-week-on-bearish-momentum\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EURUSD Opens Central Bank Interest Rate Decision Week on Bearish Momentum\" \/>\n<meta property=\"og:description\" content=\"The EURUSD currency pair opened the crucial central banks\u2019 interest rate decisions week on the backfoot after disappointing services and manufacturing PMI data from the Eurozone weighed on the Euro during the session.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blog.trive.com\/de\/handel\/eurusd-opens-central-bank-interest-rate-decision-week-on-bearish-momentum\/\" \/>\n<meta property=\"og:site_name\" content=\"Trive Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-24T14:02:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-24T14:02:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/04\/THUMB-EURUSD-2.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"CONNECT TRIVE\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"EURUSD Opens Central Bank Interest Rate Decision Week on Bearish Momentum\" \/>\n<meta name=\"twitter:description\" content=\"The EURUSD currency pair opened the crucial central banks\u2019 interest rate decisions week on the backfoot after disappointing services and manufacturing PMI data from the Eurozone weighed on the Euro during the session.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/04\/THUMB-EURUSD-2.png\" \/>\n<meta name=\"twitter:label1\" content=\"Verfasst von\" \/>\n\t<meta name=\"twitter:data1\" content=\"CONNECT TRIVE\" \/>\n\t<meta name=\"twitter:label2\" content=\"Gesch\u00e4tzte Lesezeit\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 Minuten\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/blog.trive.com\/trading\/eurusd-opens-central-bank-interest-rate-decision-week-on-bearish-momentum\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/blog.trive.com\/trading\/eurusd-opens-central-bank-interest-rate-decision-week-on-bearish-momentum\/\"},\"author\":{\"name\":\"CONNECT TRIVE\",\"@id\":\"https:\/\/blog.trive.com\/#\/schema\/person\/1b50e17681b87a48acedbf0270821e31\"},\"headline\":\"EURUSD Opens Central Bank Interest Rate Decision Week On Bearish Momentum\",\"datePublished\":\"2023-07-24T14:02:11+00:00\",\"dateModified\":\"2023-07-24T14:02:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/blog.trive.com\/trading\/eurusd-opens-central-bank-interest-rate-decision-week-on-bearish-momentum\/\"},\"wordCount\":392,\"publisher\":{\"@id\":\"https:\/\/blog.trive.com\/#organization\"},\"articleSection\":[\"Trading\"],\"inLanguage\":\"de-DE\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blog.trive.com\/trading\/eurusd-opens-central-bank-interest-rate-decision-week-on-bearish-momentum\/\",\"url\":\"https:\/\/blog.trive.com\/trading\/eurusd-opens-central-bank-interest-rate-decision-week-on-bearish-momentum\/\",\"name\":\"EURUSD Opens Central Bank Interest Rate Decision Week On Bearish Momentum - 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