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Main » 2019 » July » 23 » Fundamental analysis and forecast of EUR / USD 23.07.2019: Euro under pressure
11:48
Fundamental analysis and forecast of EUR / USD 23.07.2019: Euro under pressure

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The EUR / USD is still trading with a decrease against the background of strengthening the dollar and expectations of monetary policy easing by the ECB.


The dollar had a statement of Donald Trump have reached an agreement with Congress on the budget and increase the debt ceiling. Investors also reacted positively to the very information about the full resumption of direct contacts between the US and China to regulate the trade conflict.

 

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Demand for the European currency continues to fall due to the commutation signals of monetary policy against the backdrop of the worsening situation in the economy. On the eve of one of the representatives of the ECB, Philip Lane, he said he constantly low inflation points to the need for new interventions by the regulator. Therefore, many experts and investors expect the ECB's reduction at the September meeting and the resumption of QE program to the end of the year interest rates.

 

Today, the focus of investors will be data on sales of existing homes in the United States, as well as the situation in the debt market and geopolitical news.

 

 

At present in the EUR / USD pair took support on the breakdown of 1.1200. This is a strong bearish signal, in which today can be expected to update the minimum EUR / USD June 18, at 1.1180, and further development of the bearish movement towards the 1.1130 level.

 

resistance levels EUR / USD: 1.1225, 1.1280, 1.1300.

Levels of support for EUR / USD: 1.1170, 1.1130, 1.1100.

The main scenario - reduction of EUR / USD to 1.1130.

Alternative scenario - securing EUR / USD above 1.1200 and the development of corrective movement.


In the forex market is dominated by negative news background, which contributes to the further development of the downward movement. Therefore, preference is given to intra-day sales EUR / USD, which are worth looking for near the level of 1.1225. 

 

EUR / USD Forecast analyst and today  FORTFS

 

 

 

 

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