Review Brokers
No Result
View All Result
Friday, September 29, 2023
  • Login
  • Home
    • Forex Advertising
    • Economic Calendar
    • Contact Us
  • Forex Brokers
    • Best Broker 2023
  • Education
    • Forex Trading Strategies
    • Forex Trading Indicators
    • Forex/CFDs/Cryptos News
    • Promotional Content
  • Forex Promotions
    • Best Promotions
    • Affiliate Program
    • Forex No Deposit Bonus
    • Forex Demo Contest
    • Forex Rebate (Cashback)
    • Forex Live Contest
    • Forex Deposit Bonus
    • Other Promotions
  • Expert Advisors
    • Expert Advisors Price
  • Rebate Service
    • Terms and Conditions of Rebate Services
  • Home
    • Forex Advertising
    • Economic Calendar
    • Contact Us
  • Forex Brokers
    • Best Broker 2023
  • Education
    • Forex Trading Strategies
    • Forex Trading Indicators
    • Forex/CFDs/Cryptos News
    • Promotional Content
  • Forex Promotions
    • Best Promotions
    • Affiliate Program
    • Forex No Deposit Bonus
    • Forex Demo Contest
    • Forex Rebate (Cashback)
    • Forex Live Contest
    • Forex Deposit Bonus
    • Other Promotions
  • Expert Advisors
    • Expert Advisors Price
  • Rebate Service
    • Terms and Conditions of Rebate Services
No Result
View All Result
Review Brokers
No Result
View All Result

EURUSD Forecast: Bulls are losing the battle

Admin by Admin
August 16, 2022
in Forex/CFDs/Cryptos News
0
EUR_USD
0
SHARES
2
VIEWS

(Valeria Bednarik – FXStreet)

EUR/USD Current Price: 1.0163

– Tepid EU data hints at a steeper economic decline in the Union.

– Wall Street ignored soft housing data and cheered encouraging industrial news.

– EUR/USD is at risk of falling despite bouncing ahead of the daily close.

EUR_USD

The EUR/USD pair recovered from a fresh weekly low of 1.0121 to end the day pretty much unchanged in the 1.0160 price zone. The American dollar maintained its positive momentum until the US opening, helped by a cautious mood amid recession fears.

Disappointing macroeconomic data affected both currencies. During the European session, the shared currency was hit by the EU June Trade Balance, which posted a seasonally adjusted deficit of €30.8 billion. Also, the German ZEW Survey showed that the Economic Sentiment in the country plunged to -55.3 in August, while the sentiment for the whole Union declined to -54.9.

US figures were mixed. July Building Permits declined by 1.3% MoM, while Housing Starts in the same period were down a whopping 9.6%. The figures exerted pressure on the greenback. On a positive note, and backing stocks’ rally, Industrial Production was up 0.6% MoM in July, while Capacity Utilization in the same period increased to 80.3%, both beating the market expectations.

On Wednesday, the EU will publish the second estimate of the Q2 Gross Domestic Product, foreseen at 0.7% QoQ, while the US will publish July Retail Sales, expected to have increased by 0.1% MoM. In the American afternoon, the FOMC will publish the Minutes of the latest US Federal Reserve monetary policy meeting. Market players will be looking for clues on the size of the September rate hike, considering inflationary pressures have finally started easing.

EUR/USD short-term technical outlook

The EUR/USD pair trades in the 1.0170 price zone, below the 38.2% retracement of the 1.1614/0.9951 decline at 1.0205 but above the next Fibonacci support at 1.0105. Technical readings in the daily chart skew the risk to the downside, as the pair is currently developing below a now flat 20 SMA,  while the longer moving averages maintain their firmly bearish slopes far above the current level. Meanwhile, the RSI indicator consolidates at around 45, while the Momentum indicator crosses its midline into negative territory, supporting another leg south.

In the 4-hour chart, the pair is still developing below all of its moving averages, with the 20 SMA accelerating its decline above the longer ones. Technical indicators have bounced from oversold levels, heading north below their midlines but falling short of supporting a firmer recovery. The bearish case should lose steam if the pair recovers above 1.0205, the aforementioned Fibonacci resistance level. A break below 1.0105, on the other hand, would expose the pair to a retest of parity.

Support levels: 1.0150 1.0105 1.0070  

Resistance levels:  1.0205 1.0240 1.0280

Read AUDUSD Forecast: Focus on Australian wages

Post Views: 380

Related posts:

RoboForexForex Trading Analysis: USD/JPY, USD/CHF, AUD/USD, EUR/JPY, USD/CAD FXStreetWill Dogecoin price take a hit as Twitter looks to sue Elon Musk FXStreetTechnical Outlook: EURUSD, GPBUSD FXStreetFX daily: Heatwaves MarketNewsBitcoin’s attempt to break the downtrend GoldGold missed the latest rally, but prepares for a notable reversal dogecoinDogecoin launches new update to improve security and efficiency FXStreetTechnical Outlook: USDCAD, WTI Oil, EURUSD
Tags: EUR/USD short-term technical outlookForex Trading AnalysisForex/CFDs/Cryptos News
30 USD No Deposit Bonus 30 USD No Deposit Bonus 30 USD No Deposit Bonus
Previous Post

LegacyFX | Loyalty Membership Program

Next Post

AUDUSD Forecast: Focus on Australian wages

Admin

Admin

Related Posts

ForexNews
Forex/CFDs/Cryptos News

Economic Headwinds in Europe: Exploring the Lower Trading Figures

July 25, 2023
EUR-USD
Forex/CFDs/Cryptos News

EUR/USD Forecast: Turbulent Times Ahead for the Euro

July 17, 2023
FXcurrencies
Forex/CFDs/Cryptos News

Mastering Murrey Math Lines for Trading USD/JPY and USD/CAD

April 19, 2023
oil
Forex/CFDs/Cryptos News

Navigating the Turbulent Waters of Commodity Markets: Higher Prices and Weaker Margins

April 19, 2023
oil
Forex/CFDs/Cryptos News

Energy Prices Spark Inflation Surge in the US: Expert Analysis

April 17, 2023
Gold
Forex/CFDs/Cryptos News

Gold Forecast: Will it Reach $2040 Again and What are the Risks Involved?

September 11, 2023
Load More
Next Post
AUD_USD

AUDUSD Forecast: Focus on Australian wages

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
PrimeXBT

PrimeXBT | Step2earn Contest (06.06.22)

May 31, 2022
FBS

FBS | $100 Quick Start Bonus

February 21, 2023
PrimeXBT

PrimeXBT | TradinatoR Contest (27.06.22)

June 6, 2022
xtrade

XTrade | Xmas Season Bonus (26.12.21)

May 24, 2022
CMC Markets

What Is Bitcoin?

52
forexknowledge

What is Forex?

32
Tiomarkets

MT4 vs MT5: What trading platform to choose?

31
CMC Markets

What Is Ethereum?

29
JustMarkets-Grab a Risk-Free $30 Welcome Bonus in Forex Trading

JustMarkets – Grab a Risk-Free $30 Welcome Bonus in Forex Trading

September 25, 2023
Boost Your Profits with OctaFX 50% Bonus Offer

Boost Your Profits with OctaFX 50% Bonus Offer

September 25, 2023
XM Group - How to Claim $30 Forex Welcome Bonus

XM Group – How to Claim $30 Forex Welcome Bonus

September 24, 2023
RoboForex How to Claim $30 as a Forex Welcome Bonus

RoboForex Free Welcome Bonus: How to Claim $30 as a Forex Welcome Bonus

September 22, 2023

Advertisement

exness

fbs

XM



octafx

icmarkets

XM

Recent Posts

  • JustMarkets – Grab a Risk-Free $30 Welcome Bonus in Forex Trading
  • Boost Your Profits with OctaFX 50% Bonus Offer
  • XM Group – How to Claim $30 Forex Welcome Bonus
  • RoboForex Free Welcome Bonus: How to Claim $30 as a Forex Welcome Bonus
  • Winning Gold Trading Strategies

Connect to ReviewBrokers

facebook twitter telegram
liveinternet liveinternet
Review Brokers

ReviewBrokers Information

Address: Ho Chi Minh City, Vietnam, 70000

Contact us:
– Skype: fxvnpro
– Email:

admin@reviewbrokers.com

reviewbrokers.net@gmail.com

Payment methods:
– Webmoney
– Perfect Money
– Paypal
– Skrill
– Neteller
– Bank Wire
– Bitcoin

Categories

  • Affiliate Program (63)
  • Best Promotions (42)
  • Broker Listing (7)
  • Education (95)
  • Expert Advisors (2)
  • Forex Demo Contest (38)
  • Forex Deposit Bonus (239)
  • Forex Live Contest (53)
  • Forex No Deposit Bonus (28)
  • Forex Rebate (Cashback) (64)
  • Forex Trading Indicators (26)
  • Forex Trading Strategies (15)
  • Forex/CFDs/Cryptos News (963)
  • Other Promotions (51)
  • Promotional Content (14)

Disclaimer

Any promotions, reviews, and other information in the website are just for the information purpose only.

There is no invitation or encouragement to invest in the Financial Market such as CFDs, Forex, Binary Options, Indices, Cryptocurrencies and so on. We disclaim liability for any loss resulting from the use of information contained on this website.

The published comments are private opinions or feedback of the users. ReviewBrokers is not responsible for any information on the website.

Recent Posts

  • JustMarkets – Grab a Risk-Free $30 Welcome Bonus in Forex Trading
  • Boost Your Profits with OctaFX 50% Bonus Offer
  • XM Group – How to Claim $30 Forex Welcome Bonus
  • RoboForex Free Welcome Bonus: How to Claim $30 as a Forex Welcome Bonus
  • Winning Gold Trading Strategies
  • Top Forex Brokers with No Deposit Bonuses
  • FBS Global Roadshow: Nurturing Global Trading Communities Worldwide
  • What is a No Deposit Forex Bonus and How to Get It
  • Maximize Profits with Free Forex Trading Bots
  • How to Start Making Money with Forex Trading for Beginners
  • Trading Forex with No Deposit Bonus
  • Orbit Global FX | August Month Offer For Traders

Risk warning

Please be aware of your investment into trading markets which is high risk and not suitable for everyone.

© 2013 - 2023 Review Brokers - Forex Brokers Review - Rebates Service - Expert Advisors Signals - Forex Promotions & News.

No Result
View All Result
  • Home
    • Binary Options Brokers
    • Forex Advertising
    • Best Brokers 2022
    • Economic Calendar
    • Contact Us
  • Expert Advisors
    • Expert Advisors Price
  • Forex Brokers
  • Education
    • Forex/CFDs/Cryptos News
    • Promotional Content
  • Forex Promotions
    • Best Promotions
    • Forex No Deposit Bonus
    • Forex Demo Contest
    • Forex Rebate (Cashback)
    • Affiliate Program
    • Forex Deposit Bonus
    • Forex Live Contest
    • Other Promotions

© 2013 - 2023 Review Brokers - Forex Brokers Review - Rebates Service - Expert Advisors Signals - Forex Promotions & News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Warning: array_sum() expects parameter 1 to be array, null given in /home/betbonus/reviewbrokers.net/wp-content/plugins/jnews-social-share/class.jnews-social-background-process.php on line 111