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Main » 2019 » July » 24 » Fundamental analysis and forecast of EUR / USD 24.07.2019: on the EUR / USD pressured the weak data from Europe
11:27
Fundamental analysis and forecast of EUR / USD 24.07.2019: on the EUR / USD pressured the weak data from Europe

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The EUR / USD continues to decline in the course of today's trading has tested 2-month low, in the mark of 1.1140. Pressure on prices continues to the US dollar, which strengthened on the news of the resumption of the US-China trade negotiations and reach an agreement on a two-year budget between Democrats and Donald Trump.

 

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Additional pressure on the European currency has ECB meeting, the results of which will be announced tomorrow. Most investors expect the regulator commutation signals of monetary policy and the resumption of QE program, the medium-term is a strong negative factor for the euro.


Today, the focus of the market will be preliminary data on the PMI service sector and the manufacturing sector in the US and Europe. Morning were published data on PMI in France. Both figures were lower than predicted values, increasing the pressure on the pair EUR / USD. Later, the same data will be published in Germany, the EU and the US. Also in US today will be announced data on new home sales.

 

 

On the EUR / USD chart situation has not changed locally is still current downtrend. Today should pay attention to the level of 1.1155. If buyers EUR / USD will be able to gain a foothold above this mark can rely on the formation of the corrective movement in the area of ​​1.1200 and above. While EUR / USD stays below 1.1155 is more likely to work out is an option to lower to 1.1120.

 

resistance levels EUR / USD: 1.1155, 1.1200, 1.1240.

Levels of support for EUR / USD: 1.1120, 1.1100, 1.1080.

The main scenario - reduction of EUR / USD to 1.1120.

Alternative Scenario - consolidation above 1.1155 and rising EUR / USD to 1.1200 .  


In the forex market the pair EUR / USD keeps negative fundamental background. The graph bearish signals predominate. Intraday consider selling EUR / USD, while rolling back prices to the area of ​​1.1200. 

 

EUR / USD Forecast fundamental  FORTFS

 

 

 

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