Will 100 eur to usd be profitable tomorrow?
If you believe in moving average crosses, it is safe to say we are seeing a sell signal, which confirms the euro to us dollar price to decline. Your 100 euro purchase could strengthen as USD goes up. You may need to send money sooner as this exchange rate appears to switch over faster.
Note; As a currency exchange tip, you could always use a legit forex currency converter. If you want a lower transaction fee, you could use a legit crypto exchange for real-time money transfer for the lowest fee prices. There might be a limited selection of currency pairs but still useful to know.
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Simple moving average
Exponential moving average
One classic indicator to confirm if EUR USD goes down with an Aanoon Oscillator. Check out the elevatedAroon Down signals below.
Even the EURUSD price line drops below the trend of the Fibonacci retrace,ment which also confine firms’ price decline.
Even from a quantitative analysis point of view, the Kurtosis distribution shows a decline with this 14 days analysis.
The price goes ver thgoesnext day. Realize to convert the euro appear unstable, so do it as soon as possible.
Here is an example of a one-year historical EUR/USD price trend for the first day of each month.
One year of historical data for 1st day of each month
These are your forward rates.
It appears that this forex pair eyes PMI and German inflation with a potential run to $1.07
EUR/USD bears take out key lows, breaking below 1.0570 so far
The link below had a headline EUR/USD Forecast: Bears looking for fresh monthly lows
This article highlights the following:
- Hotter-than-expected Spanish and French inflation underpinned the Euro.
- US CB Consumer Confidence shrank for a second consecutive month in February.
- EUR/USD failed around 1.0640, aiming for a downward extension towards 1.0500.
This same article mentioned a big highlight:
“EUR/USD pair advanced on Tuesday to reach 1.0644 early in the American session. It later changed direction to end the day with modest losses around 1.0590. The Euro surged during London trading hours as hotter-than-expected Spanish, and French inflation figures fueled speculation that the European Central Bank (ECB) will continue hiking rates until early 2024.
Hawkish comments from ECB officials further fueled the advance. On Tuesday, ECB Chief Economist Philip Lane said that the “case for 50 bps rate hike in March remains solid,” reaffirming the well-known central bank message. Market players now see ECB’s terminal rate at 4%.”
As you can see, these new items confirm our above theory based on technical charts, among other techniques mentioned,
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