EUR USD
Target Date: 29/7/2019 – 02/08/2019
Technical Analysis:
EUR/USD has been getting used to the lower range, and downside momentum persists on the four-hour chart. Moreover, the recent bounce has taken the Relative Strength Index above 30 – exiting oversold conditions and opening the door to fresh falls. Initial support awaits at 1.1125, which was a low point earlier last week. Thursday's new 2019 low of 1.1101 is critical support. Below, 1.1025 and 1.0900 are the next lines to watch, and they date back to 2017. Some resistance awaits at 1.1155, which held EUR/USD down earlier this week. It is followed by 1.1190, which was the high point on Thursday. Next up, we find 1.1245, which served as both support and resistance earlier in July.
Our Sentiment: sell Till 1.11 (until the support is broken at 1.1025)
The Big Picture:
The EUR currency may suffer another downside drift with US GDP and will be affected with the below news:
News affecting USD:
Tuesday 30/7 – CB Consumer Confidence (July) – Expected to increase (124 vs 121)
Tuesday 30/7 – Pending Home sales – Expected to decrease (0.5% vs 1.1%)
Wednesday 31/7 - ADP Non Farm Employemt – Expected to increase (-0.429M)
Wednesday 31/7 - Fed Interest Rate Decision – Expected to decrease (2.25% vs 2.5%)
Thursday 01/8 – ISM Manufacturing PMI – Expected to increase (52 vs 51.7)
Friday 02/08 – Nonfarm Payrolls (July) – Expected to decrease (165k vs 224K)
Friday 02/08 – Unemployment rate (July) – Expected to decrease (3.6% vs 3.7%)
News affecting EUR:
Tuesday 30/7 – Germany Consumer climate index release – expected to decrease (9.7 vs 9.8 MoM)
Tuesday 30/7 – French GDP – expected to be the same (0.3% vs 0.3% QoQ)
Tuesday 30/7 – German CPI – expected to be the same (0.3% vs 0.3% QoQ)
Wednesday 31/8 – German Retail Sales – expected to be the same (0.3% vs 0.3% QoQ)
Wednesday 31/8 – German Unemployment change Sales – expected to increase (3k vs -1K QoQ)
Wednesday 31/8 – EUR CPI – expected to decrease (1.1% vs 1.3% QoQ)
Thursday 01/08 – Spanish PMI - Expected to be the same (47.7 vs 47.9)
Thursday 01/08 – German PMI - Expected to be the same (43.1 vs 43.1)
Target Date: 29/7/2019 – 02/08/2019
Technical Analysis:
EUR/USD has been getting used to the lower range, and downside momentum persists on the four-hour chart. Moreover, the recent bounce has taken the Relative Strength Index above 30 – exiting oversold conditions and opening the door to fresh falls. Initial support awaits at 1.1125, which was a low point earlier last week. Thursday's new 2019 low of 1.1101 is critical support. Below, 1.1025 and 1.0900 are the next lines to watch, and they date back to 2017. Some resistance awaits at 1.1155, which held EUR/USD down earlier this week. It is followed by 1.1190, which was the high point on Thursday. Next up, we find 1.1245, which served as both support and resistance earlier in July.
Our Sentiment: sell Till 1.11 (until the support is broken at 1.1025)
The Big Picture:
The EUR currency may suffer another downside drift with US GDP and will be affected with the below news:
News affecting USD:
Tuesday 30/7 – CB Consumer Confidence (July) – Expected to increase (124 vs 121)
Tuesday 30/7 – Pending Home sales – Expected to decrease (0.5% vs 1.1%)
Wednesday 31/7 - ADP Non Farm Employemt – Expected to increase (-0.429M)
Wednesday 31/7 - Fed Interest Rate Decision – Expected to decrease (2.25% vs 2.5%)
Thursday 01/8 – ISM Manufacturing PMI – Expected to increase (52 vs 51.7)
Friday 02/08 – Nonfarm Payrolls (July) – Expected to decrease (165k vs 224K)
Friday 02/08 – Unemployment rate (July) – Expected to decrease (3.6% vs 3.7%)
News affecting EUR:
Tuesday 30/7 – Germany Consumer climate index release – expected to decrease (9.7 vs 9.8 MoM)
Tuesday 30/7 – French GDP – expected to be the same (0.3% vs 0.3% QoQ)
Tuesday 30/7 – German CPI – expected to be the same (0.3% vs 0.3% QoQ)
Wednesday 31/8 – German Retail Sales – expected to be the same (0.3% vs 0.3% QoQ)
Wednesday 31/8 – German Unemployment change Sales – expected to increase (3k vs -1K QoQ)
Wednesday 31/8 – EUR CPI – expected to decrease (1.1% vs 1.3% QoQ)
Thursday 01/08 – Spanish PMI - Expected to be the same (47.7 vs 47.9)
Thursday 01/08 – German PMI - Expected to be the same (43.1 vs 43.1)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.