Currency : EUR USD Target Date: 22/7/2019 – 26/7/2019
Currency : EUR USD
Target Date: 22/7/2019 – 26/7/2019
Technical Analysis:
The EUR/USD pair has retreated for a second consecutive week from a critical Fibonacci resistance, the 38.2% retracement of the latest daily decline, measured between 1.1411 and 1.1192, finishing it not far above this last, with a potential downside till 1.15 and with the support levels at 1.1180 1.1150 1.1106 respectively, if broken further downside is possible.
Our Sentiment : sell Till 1.15
The Big Picture:
The EUR Is 23% undervalued and will be affected with the below news:
News affecting USD:
Tuesday 23/7 – release of the USA Existing home sales ( June) – Expected to be the same (5.34m)
Wednesday 24/7 - release of the USA New house sales ( June) – Expected to increase (660k vs 626K)
Wednesday 24/7 – Release of the USA Crude oil inventories - TBR
Thursday 25/7 – Durable Goods order release – Expected to decrease to 0.2% MoM
Friday 26/7 – USA GDP QoQ release – Expected to decrease 1.8% vs 3.1% ( QoQ)
News affecting EUR:
Wednesday 24/7 – Germany Manufacturing PMI Release – Expected to increase 45.2 vs 45 (MoM)
Thursday 25/7 – Germany Business climate index release – expected to decrease (97.1 vs 97.4 MoM)
Thursday 25/7 – Deposit Facility Rate decision Expected to be the same @0.25%
Thursday 25/7 – ECB Interest rate decision – expected to be the same
Target Date: 22/7/2019 – 26/7/2019
Technical Analysis:
The EUR/USD pair has retreated for a second consecutive week from a critical Fibonacci resistance, the 38.2% retracement of the latest daily decline, measured between 1.1411 and 1.1192, finishing it not far above this last, with a potential downside till 1.15 and with the support levels at 1.1180 1.1150 1.1106 respectively, if broken further downside is possible.
Our Sentiment : sell Till 1.15
The Big Picture:
The EUR Is 23% undervalued and will be affected with the below news:
News affecting USD:
Tuesday 23/7 – release of the USA Existing home sales ( June) – Expected to be the same (5.34m)
Wednesday 24/7 - release of the USA New house sales ( June) – Expected to increase (660k vs 626K)
Wednesday 24/7 – Release of the USA Crude oil inventories - TBR
Thursday 25/7 – Durable Goods order release – Expected to decrease to 0.2% MoM
Friday 26/7 – USA GDP QoQ release – Expected to decrease 1.8% vs 3.1% ( QoQ)
News affecting EUR:
Wednesday 24/7 – Germany Manufacturing PMI Release – Expected to increase 45.2 vs 45 (MoM)
Thursday 25/7 – Germany Business climate index release – expected to decrease (97.1 vs 97.4 MoM)
Thursday 25/7 – Deposit Facility Rate decision Expected to be the same @0.25%
Thursday 25/7 – ECB Interest rate decision – expected to be the same