A new week is about to begin and we welcome as our tests have been successful. Always maintaining restraint, caution and discipline we deserved to congratulate the success of our recent operations.
As we have mentioned several times, all of our analysis have a temporary account daily to weekly, so do not recommend intraday operations.
Anyway, back to our favorite Forex market, which is the EUR / USD we can see that the price is within a beautiful downstream channel, which challenges us to take positions.
addition to the above two announcements rocked the forex market EUR / USD: a loss that was smaller than expected jobs in the United States and other bad news for the economy in the euro area, this time in Germany where the indicator retail sales (detail), an important indicator for measuring consumer, fell more than expected (1.4%).
Fundamental Analysis
Despite the result of non-farm-payroll better than expected, the unemployment rate in the U.S. economy was worse than expected. There is no doubt that the U.S. economy is having mixed indicators, becoming positive surprises better than negative surprises. And neither can deny that the news from the euro zone are getting worse, ie, negative economic indicators are increasingly seeing.
Oil continued to bounce off its low for the area of \u200b\u200b$ 120, closing the week at $ 125 a barrel. The price closed higher, but we think the uptrend is over. A complete analysis was performed on the following link for a student of one of our sponsors Forex courses. In which states that it is very possible that oil will drop further.
The level of employment in the U.S. economy probably will become the focus of importance to measure the recovery - the indicators given an unemployment rate of 5.7% when 5.6% was expected. This suggests that the Fed would not soon raise rates.
On the other hand, Europe, with lower oil prices reduce inflationary pressure, more negative economic indicators makes us think that the Euro area should maintain the interest rate.
For fundamental analysis we think the dollar should be further strengthened and every hike that the Euro is expected a rebound.
Technical Analysis
The price of the Euro is in a beautiful canal and the price closed down together in the middle of it. Technically, the price should rise in the early days of the week should not exceed 1.5680. It is hoped that once touch the top of the channel the price should come down. Surely the next stop should be the 1.5350 low. After overcoming the price could easily reach 1.5000 (But it's for later).
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