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Fundamental analysis and forecast of EUR / USD 14.11.2019: Data from Germany can support a pair of E URUSD


The EUR / USD maintains the downward motion vector remains under strong pressure from the dollar.

Local support quotes today may have published data on Germany's GDP for the third quarter. According to the report in the annual growth of GDP was 1.0%, the forecast of 0.9% and the data for the last month -0.1%. GDP growth compared with the last quarter was 0.1%, the forecast of -0.1%. Unexpectedly for many participants in the auction were better than forecast values ​​and can trigger a short-term growth of the pair EUR / USD.


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In the US today expected to publish data on producer price index. Most likely, these data will have a very limited impact on trade, since the day was previously issued a more important indicator - the Consumer Price Index. Also, investors will be watching a statement Niemi Jerome Powell to the US Congress core committee. There also does not expect a large market fluctuations. Likely Powell in his speech will follow theses voiced earlier. Yesterday's speech Powell has not had a strong impact on the market. Bernanke said that the regulator is now quite little room for maneuver. Low inflation, low interest rates and low rates of economic growth are now the norm. This situation is not unique to the US economy, but also for the whole world.

On the chart the dominant vector is a downward price movement. In this case, the rate of decline slowed significantly in quotations, which may indirectly indicate an approaching turn. But, most likely, to expect the formation of a strong recoil movement -less stands after a minimum break of 15 October at 1.0990.


Resistance levels: 1.1055, 1.1090, 1.1130.

Levels of support: 1.0990, 1.0945, 1.0890

The main scenario - reduction of under 1.0990 and the formation of recoil movement.  

Alternative Scenario - consolidation below 1.0990 and decline to 1.0945.  


The fundamental background can be characterized as moderately positive (with the publication of good data from Germany). The graph bearish signals predominate. Intra-day preference is given to the level of sales from the first 1.1035 and 1.1055.


The fundamental analyst and forecast of the euro against the dollar  FORTFS



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