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Main » 2019 » July » 17 » Fundamental analysis and forecast of EUR / USD 17.07.2019: greenback strengthened across the market
Fundamental analysis and forecast of EUR / USD 17.07.2019: greenback strengthened across the market


The EUR / USD completed yesterday's trading lower by 0.45% against the dollar strengthening across the board, and the publication of the next portion of weak economic data from Germany. According to the report presented yesterday ZEW index of economic sentiment in Germany fell to its lowest level in the current year, while the index of economic conditions updated with lows from August 2010!


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The United States responded fairly good report on retail sales, which shows the growth in consumer spending, thereby strengthening the position of the dollar in the foreign exchange market. A series of good economic reports from the US prompted investors to reconsider their views on the further policy of the Fed. The market is still waiting for the Fed to reduce the mill, but, obviously, it will be less significant than previously expected. Experts are now talking about a possible decline of 0.25% in 2019.

Today, the focus of investors will be data on the consumer price index in the EU, which could have some impact on the results of the ECB meeting (25.07). Previously published data on individual EU countries were better than market expectations, so today we can also expect a strong report, which can be a good signal for the development of the pair EUR / USD correction. The US dollar can affect the data on the construction sector, as well as the "Beige Book" Federal Reserve.



On the EUR / USD chart still prevail bearish signals. Sellers euro gradually increasing pressure on the level of 1.1200, which significantly increases the probability of breakdown of the mark and the further development of the downward movement to 1.1130.

soprotivleniyaEUR / USD levels: 1.1225, 1.1265, 1.1300.

Levels of support for EUR / USD: 1.1200, 1.1170, 1.1130.

The main scenario - correction 1.1225 area and a decrease in EUR / USD to 1.1270.  

Alternative - the breakdown of local resistance at 1.1225 and EUR correction / USD to 1.1265.

In the Forex market is dominated by negative news background. On the EUR / USD chart is also dominated by bearish signals. Intra-day preference is given to sell the pair, which should be considered on the resistance levels 1.1225 and 1.1265.


EURUSD forecast and analyst every day  FORTFS



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