ThetaTrading

UPBEAT US RETAIL SALES SUPPORT 'TRIANGLE CASE' IN EUR/USD

FX:EURUSD   Euro Fx/U.S. Dollar
A decent US retail sales report keeps rate hike hopes alive. The number for July grew 0.6% after a revision showed sales were flat in June. Retail sales ex autos, considered a more accurate metric, grew 0.4% vs -0,1% last month. Dollar gained support after the release. On the other hand, initial jobless claims ticked higher to 274,000 from 269,000 last week, which curbed USD advance.

I am sticking to the Triangle pattern development in EUR/USD             . As predicted in the last post, the price reached the first resistance cluster at 1.1168-1.1195, and bounced off. There are two scenarios: either Wave C is complete and the pair is likely to slide back to 1.0902-1.0962 area; or another upward move will help it reach 1.1255-1.1287 cluster.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out