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16 11, 2024

Fuse Introduces Volt 2.0 DeFi Banking App With Crypto Card

By |2024-11-16T07:26:40+02:00November 16, 2024|News, NFT News|0 Comments


Payments-centric blockchain ecosystem Fuse has announced the public release of Volt App 2.0, its flagship decentralized finance (DeFi) application. With the newest release, the app elevates it into a decentralized banking ecosystem with a host of new features, including a crypto debit card.

Volt App 2.0 with native crypto card introduced by Fuse blockchain

Fuse, a new-gen programmable blockchain for payment applications, releases a new version of its major DeFi Volt App. Release v2.0 is designed to simplify DeFi interactions and adds a slew of improvements that will significantly enhance the user experience and lower entry barriers.

Volt App 2.0 is released with many game-changing options, including multi-chain deposits, yield-earning instruments, seamless worldwide spending and gamified educational features that support a robust suite of alternative banking services.

Besides that, the new application is seamlessly integrated with a native Visa crypto debit card. Assets from Volt App can be converted into funds on cards and vice versa.

The launch of a Volt debit card will enable fast and secure conversion of digital assets to fiat, so they can be spent instantly in-store or online. This will provide greater flexibility for users, who can enjoy the upside of holding their crypto for longer, coupled with the freedom to spend it on bills and purchases.

The introduction of multichain support enables users to deposit assets from any major blockchain network, including Ethereum (ETH), Polygon (POL) and BNB Smart Chain (BSC).

As covered by U.Today previously, FUSE token recently debuted on Bitget, a tier-1 centralized exchange for spot and futures pairs.

Claimr’s gamified rewards program opens up new opportunities 

Volt App 2.0’s multichain integration allows users to manage their crypto seamlessly, no matter the network, making DeFi accessible to a wider audience.

The app’s new gamified rewards program, powered by Claimr, rewards users for exploring DeFi’s tools and learning about the app. Guided tasks encourage users to explore staking, saving and swapping, turning financial discovery into an educational and rewarding journey.

With all these upgrades, Volt App 2.0 evolves into a one-stop DeFi hub for Fuse, which is a high-performance EVM blockchain with smart contracts.





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16 11, 2024

Binance Coin (BNB) Price Prediction for November 15

By |2024-11-16T05:34:09+02:00November 16, 2024|Crypto News, News|0 Comments

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

A correction may have begun on the market, according to CoinStats.

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BNB chart by CoinStats

BNB/USD

The price of Cardano (ADA) has dropped by 6.84% since yesterday.

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Image by TradingView

On the hourly chart, the rate of BNB is in the middle of the local narrow channel, between the support of $607.12 and the resistance of $625.22. 

Related

XRP Price Prediction for November 14

If the growth continues to the upper line, one can expect a level breakout, followed by a move to the $630-$640 range.

Article image
Image by TradingView

On the daily chart, the price of BNB has once again bounced off the support of $610. If the bar closes far from that mark, there is a chance to see growth to the middle of the channel by the end of the week.

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Image by TradingView

From the midterm point of view, the rate of the native exchange coin is far from support and resistance levels. If nothing changes by the end of the week, consolidation in the range of $610-$650 is the more likely scenario.

BNB is trading at $618.20 at press time.

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16 11, 2024

XAG/USD remains bearish biased, dips below $30.30

By |2024-11-16T05:16:17+02:00November 16, 2024|Forex News, News|0 Comments


  • Silver struggles to maintain momentum, hovering near the 100-day SMA at $30.34 with a downward bias.
  • Potential further decline could see silver test key supports at $30.00 and the 200-day SMA at $28.63.
  • A rebound above $31.00 could challenge higher resistances, targeting the 50-day SMA at $31.51 and beyond.

Silver’s price fell over 0.70% beneath $30.30 after robust US Retail Sales data suggested the Federal Reserve could gradually ease policy. At the time of writing, the XAG/USD trades at $30.21 after hitting a daily peak of $30.81.

XAG/USD Price Forecast: Technical outlook

Silver price remains subdued at around the 100-day Simple Moving Average (SMA) at $30.34. Nevertheless, the mid-term bias is tilted to the downside, and once bears push prices below August’s 26 high turned support at $30.18, they will test the psychological $30.00 mark. A breach of the latter will expose the 200-day SMA at $28.63, followed by the September 6 swing low of $27.69.

If Silver moves back above $31.00, this could pave the way for challenging the 50-day SMA at $31.51. Once surpassed, XAG/USD’s next resistance would be $32.00.

Oscillators like the Relative Strength Index (RSI) hint that further XAG/USD’s downside is seen, as RSI remains shy of being oversold.

XAG/USD Price Chart – Daily

Silver FAQs

Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.

Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.

Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.

Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.

 



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16 11, 2024

What Adding Turmeric Supplements Can Do for Your Health

By |2024-11-16T03:55:57+02:00November 16, 2024|Dietary Supplements News, News|0 Comments


Turmeric is touted as a “cure-all” spice that can heal your gut, boost memory, and reduce inflammation. However, studies on the health benefits of this golden root have yielded mixed results.

A small study found that curcumin—the active ingredient in turmeric—may improve memory and attention. However, a larger randomized controlled trial showed that curcumin had no impact on reducing inflammation following aortic aneurysm repair surgery.

Zhaoping Li, MD, PhD, a professor of medicine at the University of California, Los Angeles, said curcumin “definitely has an anti-inflammatory effect.” However, it’s most effective when used for preventative purposes or to suppress low levels of inflammation associated with chronic disease.

If someone has a painful gout flare-up, for example, Li said turning to a curcumin supplement wouldn’t be the most effective treatment.

Although clinical trials on turmeric and curcumin are limited, existing research suggests that these may contain anti-inflammatory properties that could help manage osteoarthritis and support heart health.

How Much Turmeric Do You Need in Your Diet?

Many nutrition experts say that adding turmeric to your diet is relatively safe and likely won’t lead to any adverse side effects. However, some turmeric powders have been found to contain concerning traces of lead.

Li said if you plan to add turmeric to your diet, you will see the most benefits by using it in place of a pro-inflammatory seasoning like salt. Cooking turmeric with olive oil, avocado, or other healthy fats may increase curcumin absorption and enhance anti-inflammatory effects.

While culinary doses of turmeric are generally considered safe, it’s challenging to figure out how much to consume.

“Since the benefits of turmeric aren’t universally agreed upon in the scientific community, there are no established values for the recommended dietary allowance of turmeric,” Matthew Black, MS, RDN, LD, a registered dietitian for The Ohio State University Wexner Medical Center, told Verywell in an email.

Should You Take a Turmeric Supplement?

“Get what you need from foods first,” said Sue-Ellen Anderson-Haynes, MS, RDN, LDN, a national spokesperson for the Academy of Nutrition and Dietetics in Boston.

She added that cooking with turmeric and incorporating it into smoothies and teas several times a week should be enough.

Supplements are an option for people who don’t like turmeric or don’t want to cook with it daily. However, experts say that turmeric supplements may contain much higher doses of curcumin than people typically get from their regular diet, which could increase the risk of side effects like heartburn or stomach pain.

Turmeric supplements may also interact with blood thinners, diabetes medications, and other drugs, so experts recommend talking to a healthcare provider before taking a new supplement.

Most turmeric supplements are packaged in 500mg daily doses. If you decide to take a supplement, Black recommends looking for products with the highest amount of curcuminoids and piperine, an extract of black pepper that can enhance curcumin absorption.

Turmeric supplements are generally safe, but there have been a few cases of reported toxicity. An ongoing study found 10 instances of turmeric-related liver injuries out of 1,798 cases, and a few of those tested samples contained a combination of turmeric and piperine.

“The FDA does not regulate turmeric supplements, so potency does not have to be verified. You may be paying for a supplement with low amounts of curcuminoids,” Black said. “Additionally, since label accuracy is not regulated, individuals using these supplements may be placing themselves at risk for potential harm when taking too much.”

Summary

Turmeric may offer anti-inflammatory benefits for people who incorporate this spice into their regular diet. While turmeric supplements are available, they’re unregulated, and their daily dosage might far exceed what you’d typically get from food.

Speak with a healthcare provider before taking turmeric supplements because these may also interact with your medications.

Verywell Health uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy.

  1. Hewlings S, Kalman D. Curcumin: A review of its effects on human health. Foods. 2017;6(10):92. doi:10.3390%2Ffoods6100092

  2. National Center for Complementary and Integrative Health. Turmeric.

  3. Small GW, Siddarth P, Li Z, et al. Memory and brain amyloid and tau effects of a bioavailable form of curcumin in non-demented adults: A double-blind, placebo-controlled 18-month trial. The American Journal of Geriatric Psychiatry. 2018;26(3):266-277. doi:10.1016/j.jagp.2017.10.010

  4. Garg AX, Devereaux PJ, Hill A, et al. Oral curcumin in elective abdominal aortic aneurysm repair: A multicentre randomized controlled trial. CMAJ. 2018;190(43):E1273-E1280. doi:10.1503/cmaj.180510

  5. Paultre K, Cade W, Hernandez D, Reynolds J, Greif D, Best TM. Therapeutic effects of turmeric or curcumin extract on pain and function for individuals with knee osteoarthritis: A systematic review. BMJ Open Sport & Exercise Medicine. 2021;7(1):e000935. doi:10.1136/bmjsem-2020-000935

  6. Cox FF, Misiou A, Vierkant A, et al. Protective effects of curcumin in cardiovascular diseases—impact on oxidative stress and mitochondria. Cells. 2022;11(3):342. doi:10.3390/cells11030342

  7. Stohs SJ, Chen O, Ray SD, Ji J, Bucci LR, Preuss HG. Highly bioavailable forms of curcumin and promising avenues for curcumin-based research and application: A review. Molecules. 2020;25(6):1397. doi:10.3390%2Fmolecules25061397

  8. Mount Sinai. Turmeric.

  9. Halegoua-DeMarzio D, Navarro V, Ahmad J, et al. Liver injury associated with turmeric—a growing problem: Ten cases from the drug-induced liver injury network [DILIN]. The American Journal of Medicine. 2023;136(2):200-206. doi:10.1016/j.amjmed.2022.09.026

By Stephanie Brown

Brown is a nutrition writer who received her Didactic Program in Dietetics certification from the University of Tennessee at Knoxville. Previously, she worked as a nutrition educator and culinary instructor in New York City.



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16 11, 2024

Analysts Predict A XRP Price Rally While INTL And DOGE Ride The Bullish Wave

By |2024-11-16T03:31:04+02:00November 16, 2024|Crypto News, News|0 Comments

Analysts predict a bullish run for Ripple (XRP), while investors flock to IntelMarkets (INTL) and Dogecoin (DOGE), riding the wave of a price increase.

The crypto market is heating up again as market analyst Crypto Catalysts predicts a potential bull run for Ripple (XRP). Meanwhile, IntelMarkets (INTL), now in phase four of its crypto ICO event, keeps attracting investors. Some experts even foresee this newcomer becoming a potential 6x altcoin in 2025 as it will tap into the AI market.

On the other hand, Dogecoin (DOGE) is also riding a bullish wave, and many experts, like Limbo, are making bullish price predictions.

Ripple (XRP) Could See a Price Rally Soon

Ripple (XRP) is one of the top altcoins at the moment. CoinMarketCap shows that the price of Ripple increased nearly 30% on the 1-week chart. During that period, its value moved between $0.53 and $0.70.

TradingView also shows that the Ripple crypto trades above its 20-day EMA ($0.57) and its 50-day EMA ($0.55). Furthermore, its MACD level sits at 0.028, which is in the buy zone. This suggests a good entry point for new Ripple (XRP) buyers.

Market analyst Crypto Catalysts also made a bullish Ripple price prediction. In his X post, he said that this altcoin is now seeing a bull run and predicts a potential surge above $1.50 for Ripple soon.

IntelMarkets (INTL) To Tap Into the AI Market, Price Expected To Surge

According to Statista, the AI market could be worth $826B by 2030. IntelMarkets (INTL) noted this prediction and aimed to capitalize on it. It will launch a new crypto exchange powered by AI technology to accomplish this. As a result, countless traders are eagerly awaiting the launch of this project and are rushing to its crypto ICO event right now.

IntelMarkets will stand out from its peers by utilizing AI technology to its full potential. Therefore, unlike regular trading robots, IntelMarkets will use the Intelli-M™ robots, which are self-learning and will improve their performance over time. Furthermore, IntelMarkets will be a dual-functionality exchange, which means it is supported by Solana (SOL) and Ethereum (ETH) blockchains. This will let people choose the best blockchain that fits their needs.

Those interested in this project are now buying its native token, INTL, in phase five of its presale. It costs just $0.045, a 400% increase from its starting price. But phase six will cause another jump to $0.054. Once a Tier-1 crypto exchange lists INTL soon, its expected launch price will be $0.15 – a 233% surge from its current price.

Dogecoin (DOGE) Price Looks Ready for a Leg-Up

Dogecoin (DOGE) is a meme coin making big waves in the sector. Over the past week alone, the price of Dogecoin increased nearly 100%, according to CoinMarketCap. The Dogecoin market cap jumped from $28B to $60B in that period.

Crypto analyst Limbo remains optimistic about Dogecoin (DOGE). According to his X post, this meme coin looks ready for a leg up. This could mean a potential price surge above $0.50 for the Dogecoin crypto soon.

The technicals support this Dogecoin price prediction. TradingView shows that this meme coin trades above its 20-day EMA ($0.22) and its 50-day EMA ($0.17). Additionally, its momentum indicator sits at 0.24 which is in the buy zone and suggests this bullish trend may continue.

Ripple (XRP) vs. IntelMarkets (INTL) vs. Dogecoin (DOGE) – Which Crypto Currency May Surge First?

Some experts say Ripple (XRP), IntelMarkets (INTL), and Dogecoin (DOGE) are all altcoins to watch. However, they are most bullish on IntelMarkets. Since this altcoin will have a smaller market cap than them, INTL could see faster price growth with less money. As a result, they forecast INTL potentially soaring by 6x in 2025.

Discover More About IntelMarkets:

Presale: https://intelmarketspresale.com/

Telegram: https://t.me/IntelMarketsOfficial

Twitter: https://x.com/intel_markets

The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. 

The information on this page does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained herein.

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16 11, 2024

What is NAD? The supplement may help boost longevity, energy, strength. Here’s what doctors say about benefits, side effects

By |2024-11-16T01:54:34+02:00November 16, 2024|Dietary Supplements News, News|0 Comments


LOS ANGELES — A relatively new dietary supplement is getting a lot of buzz – it’s called NAD.

Many influencers and podcasters are pushing the supplement – claiming NAD, which stands for nicotinamide adenine dinucleotide, can turn back the clock on aging – boosting energy, sharpness and strength. Preliminary research shows promise, but will it really work?

At The Vitamin Shoppe in Pasadena, on the highest shelf, you’ll find sought after supplements store manager Gabriel Carranza says he can’t keep in stock.

“We sell out pretty frequently, so every week we probably receive about three or four bottles, and they probably go within the two weeks that we get them,” Carranza said.

So what is the buzz over NAD? Early science shows it may help boost longevity. Enthusiastic customers convinced 37-year-old Fredy Barroso of North Hollywood to try it himself.

“We’re getting up there in age like we all are, and I heard good things about it,” Barroso said.

Dr. Sarah Espinoza, director of Translational Geroscience at Cedars-Sinai, and her colleagues have been studying NAD, a coenzyme key to metabolism and cellular functions.

“We know that levels go down with age, and that there is an association with age-related diseases,” she said.

Age-related diseases include dementia, diabetes and vascular conditions. Side effects may include headaches, fatigue, nausea and indigestion. Initial human studies focused on safety.

“There are no major adverse effects of taking it for relatively short periods of time like a few weeks. And it does increase NAD levels in cells in the blood,” Espinoza said.

It was a small study, and while NAD levels increased, researchers didn’t find any significant benefit in terms of a cognitive boost.

Some animal studies suggest that boosting NAD can improve mitochondrial function, insulin regulation and cognition, but those benefits have yet to be proven in human studies.

“We may show with future larger trials that there is benefit, but I would say at the moment, it’s not recommended based on current evidence,” she said.

To date, most of the research has been done on oral supplements, but the popularity of pricey NAD Intravenous infusions and injectables are growing. Espinoza said like the pills, there’s no evidence that shows benefit.

Bottles of NAD can run between $20 to $150 per month depending on the brand and dosage. For Barroso, it’s a small price for something he hopes will reap big benefits.

“You’re trying to keep yourself young. You’re trying to keep yourself healthy,” he said.

Copyright © 2024 KABC Television, LLC. All rights reserved.



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16 11, 2024

Analyst Predicts Cardano Price Will Hit $6, Here’s When

By |2024-11-16T01:29:14+02:00November 16, 2024|Crypto News, News|0 Comments

Crypto analyst Ali Martinez has made a bold prediction for the Cardano price, stating that it will reach $6 in this market cycle. The analyst went further to provide a timeline for when exactly ADA will reach this target based on historical trends.

When Cardano Price Will Reach $6

In an X post, Ali Martinez stated that the Cardano price will reach $6 by July to September 2025. The analyst made this ADA price prediction based on historical trends.

Analyst Predicts Cardano Price Will Hit , Here’s When

Martinez’s accompanying chart showed how the ADA price witnessed a rally of over 4,000%, which began in November 2020 and led to the coin reaching its current all-time high (ATH) of $3.10 in September 2021. The analyst believes Cardano can witness a similar run again and rally over 2,200% to reach $6.2.

The chart also showed that the Cardano price rally to this target had begun since the fourth of this month. Indeed, this might be the case as CryptoRank data showed that the crypto is up over 90% since the start of this month. ADA has also increased by over 20% in the last 24 hours.

This bullish outlook for the ADA price follows Cardano’s founder, Charles Hoskinson, confirming that he will serve as a crypto advisor in the Trump administration. Meanwhile,  Bitwise recently filed a multi-crypto ETF application, which will include ADA.

A Rally To $1 Might Be Imminent

Crypto analyst Sebastian indicated that the Cardano price could rally to $1 in the short term. In an X post, the analyst highlighted a bullish pennant that had formed on ADA’s daily chart. He added that the breakout target is $1.

Interstingly, Sebastian recently raised the possibility of the Cardano price reaching $20 in this market cycle. The analyst noted that ADA’s market cap would be $700 billion if it reached this price target. The analyst suggested this price target was feasible since the Ethereum price reached a $560 billion market cap last cycle.

According to him, two important factors could send ADA to that price. First, he mentioned that this could happen if Bitcoin holders started investing heavily in the Cardano ecosystem after Cardano became Bitcoin’s layer-1 for smart contracts. The second factor he mentioned is whether Hoskinson will eventually become a crypto advisor in Trump’s administration.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.



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16 11, 2024

Natural Gas Price Forecast: Rebounds with Potential Breakout Above Key Levels

By |2024-11-16T01:13:57+02:00November 16, 2024|Forex News, News|0 Comments


Successful Test of 20-Day MA is Bullish

Today’s price action shows a successful retest of support around the 20-Day MA, which followed the first successful test on November 4. It potentially clears the way for a possible new breakout attempt about the 3.02 high (B). The last attempt failed attempt occurred on Wednesday. It remains to be seen whether that high retains resistance or whether a sustainable bullish breakout triggers. A daily close above 3.02 would confirm a breakout and put natural gas in a position to test higher potential targets.

Near-term Symmetry Points to 3.22

The first target would be the swing high from August at 3.16. But that level should be easily surpassed given the potential for a strong market response. There are two patterns that would be triggered. A sustained rally above 3.02 would trigger a breakout of a large symmetrical triangle pattern, as well as a continuation of the rising trend that began from the August swing low.

If the 3.16 high can be exceeded, the completion of a small rising ABCD pattern (purple) point to 3.22. But that is a relatively easy target to hit and possibly surpass. A more significant target range looks to be from 3.35 to 3.45, which is where there is a confluence of targets from Fibonacci projections and price structure.

Watch Behavior Following a Breakout

Regardless of the potential for higher targets to be reached as indicated by the analysis, how the price of natural gas behaves following a breakout should provide clues as to the strength or weakness of demand. There is always the possibility of a failed breakout. In general, the breakout of a trendline may not be as reliable as a break above a horizontal price level. This is why a break above a prior swing high in natural gas, especially if it makes up part of the triangle structure can be an important confirmation of strength.

For a look at all of today’s economic events, check out our economic calendar.



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15 11, 2024

Bring health supplements under drug control watch, suggests panel

By |2024-11-15T23:53:21+02:00November 15, 2024|Dietary Supplements News, News|0 Comments


Panel recommended that health supplements claiming to cure or mitigate diseases be classified as drugs

NEW DELHI: In a major shift in policy to regulate manufacture and sale of health supplements in the country, an inter-ministerial committee has suggested that supplements claiming to cure or mitigate any specific disease should be considered a drug and, therefore, come under the purview of Central Drug Standards Control Organisation (CDSCO).
Currently, all such products come under the purview of Food Safety and Standards Authority of India (FSSAI). The committee, headed by former health secretary Apurva Chandra, has suggested they should be brought under the purview of CDSCO. This would mean more scrutiny of such products before licencing and increased penalty on making false claims about disease-risk reduction.
Main reason why many companies transfer some products from medicine or drug category to dietary supplements category is to escape price regulation. National Pharmaceutical Pricing Authority (NPPA) regulates pricing of drugs and ensures availability of medicines at affordable prices.
While NPPA has the authority to monitor and fix prices of drugs, it cannot take any action if the same drug is re-launched as a food supplement. The recommendation to categorise many health supplements as drugs will, therefore, have an impact on pricing of these products as well, officials said.
Other steps suggested include a separate provision of Good Manufacturing Practices (GMP), establishing a dedicated cell for monitoring of advertisements for such products.





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15 11, 2024

EUR/USD Forecast – Benzinga

By |2024-11-15T23:30:32+02:00November 15, 2024|Forex News, News|0 Comments

The EUR/USD pair has recently been on a bearish trajectory, with multiple economic and geopolitical factors pointing to continued downward pressure over the coming months. As inflation concerns ease, central banks have made dovish rate decisions and softening U.S. jobs data influences the bearish sentiment for this pair. Forex traders are now closely watching for signals on how to capitalize on the pair’s declining exchange rate. 

This EUR/USD forecast summarizes Benzinga’s technical and fundamental analysis for the currency pair, highlighting key support and resistance levels and potential influences from upcoming economic indicators and events. With a generally bearish outlook and more losses expected for EUR/USD, understanding these dynamics can present strategic opportunities for forex traders following this trend. Read on for our in-depth market forecast, providing actionable insights into trading the EUR/USD currency pair.

Disclosure: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% to 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

The products and services available to you at FOREX.com will depend on your location and on which of its regulated entities holds your account

Current Market Analysis

The EUR/USD currency pair has experienced a notable decline recently. Some of the key factors influencing the forex market’s bearish move in this currency pair include:

  • Economic Data: Recent economic indicators from both the eurozone and the United States have significantly influenced the EUR/USD exchange rate. For instance, market participants have closely watched Germany’s ZEW survey and the U.S. Federal Reserve’s policy decisions.
  • Central Bank Policies: The Federal Reserve recently announced a 25 basis point cut in the Fed Funds Rate, bringing it down to 4.50%-4.75%. This decision was widely expected, influenced by the Fed’s assessment that inflation is increasing closer to its 2% target, while the U.S. labor market has shown signs of easing. In the eurozone, expectations have increased for further ECB rate cuts.
  • Geopolitical Events: Donald Trump’s recent election victory as President of the United States has also impacted the EUR/USD exchange rate, with the dollar strengthening in response to anticipated policies under the Trump administration, including potential trade tariffs.

These factors contributed to recent downward pressure on the EUR/USD pair, with the exchange rate hitting fresh lows below the 1.0600 psychological support point. 

Technical Analysis

The EUR/USD pair is in a bearish trend, with key support levels at 1.0595/1.0602, 1.0484, 1.0449 and 1.0294. Resistance levels are noted at 1.0683/1.0685, 1.0762/1.0778 and 1.0936/1.0937. 

Furthermore, the 14-day Relative Strength Index (RSI) is approaching oversold levels at 32.60, while the exchange rate lies significantly below its 200-day Moving Average (MA), now sitting at 1.0867 with a negative slope. 

Overall, our technical analysis suggests that the EUR/USD may be nearing a potential short-term reversal to correct its oversold condition, but the overall medium-term trend remains bearish.

Fundamental Analysis

Let’s breakdown the fundamental analysis of EUR/USD by examining recent economic indicators, political events, trade relations and other global factors to yield an overall fundamental outlook:

Economic Indicators

Eurozone: The Eurozone’s GDP growth has been relatively weak. The European Central Bank (ECB) projects that economic growth will remain subdued in the near term but should improve with rising household incomes, a resilient labor market and stronger foreign demand.

United States: The U.S. economy expanded at an annual rate of 2.8% in the third quarter of 2024, down from 3.0% in the second quarter. The GDP growth is expected to be around 2.7% for the full year of 2024.

Eurozone: Inflation in the eurozone has been falling. The ECB projects inflation to increase slightly in the fourth quarter of 2024 but returns to target by the end of 2025 as cost pressures ease. The EU inflation rate was 2.10% in September 2024, down from 2.40% in August 2024 and it is expected to fall further as the year progresses.

United States: The annual inflation rate for the 12 months ending September 2024 was 2.4%, down from 2.5% in August 2024. The Federal Reserve forecasts core PCE inflation to drop to 2.4% in 2024 and 2.2% in 2025.

Eurozone: The ECB has been cautious with interest rates, recently cutting the Deposit Facility Rate to 3.25% and the Main Refinancing Operations Rate to 3.4%. 

United States: The Federal Reserve Bank in the U.S. has also been cutting its benchmark interest rates, with the current Fed Funds rate at 4.75% after a recent 25 basis point cut in November.

Political Events

The recent U.S. election had a significant negative impact on the EUR/USD pair, as the USD strengthened in its wake. The forex market is currently assessing the impact of Donald Trump’s return as President positively. Trump’s protectionist stance on trade and his promise of potential tax cuts could lead to higher inflation and interest rates, thereby boosting the USD in the long term. 

Trade Relations

Trade relations between the U.S. and its major trading partners, including the eurozone, have been tense. Newly elected U.S. President Donald Trump’s harsh policies on tariffs and trade could lead to higher inflation in the U.S. and negatively impact eurozone exports, thereby strengthening the USD versus the EUR over time. 

Global Factors

Global factors such as geopolitical tensions, supply chain disruptions and economic policies in other major economies also play a role in the dynamics of the EUR/USD exchange rate. The ongoing geopolitical tensions in the Middle East and the US-China trade dispute, which seems likely to worsen given Trump’s victory, have increased risk aversion, thereby boosting the USD as a safe-haven currency versus the EUR.

Outlook

Economic indicators, political events, trade relations and global factors influence the exchange rate of the EUR/USD currency pair. The recent U.S. election and the Federal Reserve’s dovish interest rate decisions are the most significant current drivers of the currency pair’s movements. The Eurozone’s economic recovery and inflation trends will also play a key role in the future direction of EUR/USD, which seems likely to decline over the coming months.

Forecast for the EUR/USD Pair

Overall, the EUR/USD pair is currently in a downtrend, which was strongly influenced by the 2024 U.S. election results and the Federal Reserve’s decision to cut its benchmark Fed Funds rate by 25 bps in November. Going forward, the Eurozone’s ongoing economic recovery and inflation trends should be monitored closely since those factors can play a major role in the future direction of EUR/USD.

Given the current bearish outlook for the EUR/USD pair following the 2024 U.S. election, here’s a short and long-term forecast for the currency pair:

Short-Term Forecast

  • Current Exchange Rate: Around 1.0625
  • Current Direction: Bearish
  • Key Support Levels: 1.0595/1.0602, 1.0484, 1.0449, 1.0294 
  • Key Resistance Levels: 1.0683/95, 1.0762/78, 1.0936/37

Long-Term Forecast

  • Anticipated direction: Bearish
  • Potential Range: 1.0300 – 1.0750 over the next six months.

Possible Factors That Could Influence Future EUR/USD Movements

The following factors could potentially affect upcoming movements in the EUR/USD exchange rate:

Possible Bearish Factors

  • U.S. Economic Strength: Strong U.S. economic data and higher interest rates could strengthen the USD versus the EUR.
  • Political Uncertainty in the eurozone: Any political instability or economic challenges in the eurozone could weaken the EUR.
  • Trade Tensions: Increased trade tensions between the U.S. and its trading partners could strengthen the USD.

Possible Bullish Factors

  • Eurozone Economic Recovery: If the eurozone economy shows signs of stronger growth, this could boost the EUR.
  • ECB Policy Changes: Any indication of tightening monetary policy by the European Central Bank could strengthen the EUR.
  • U.S. Dollar Weakness: Any negative economic data or political instability in the U.S. could weaken the USD.

Capitalizing on EUR/USD’s Exchange Rate Movements

You can use Benzinga’s forecast bearish movements in the EUR/USD exchange rate by signing up with a trusted online forex broker like FOREX.com. As an industry leader, FOREX.com provides access to advanced trading tools, competitive dealing spreads and fast, reliable trade executions to help you capitalize on currency market trends and volatility. The broker’s real-time data, powerful charting options and useful risk management features empower you to implement your currency market views as you learn to trade forex and profit from current trends. 

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