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Business / Finance

THE EUR/USD. August 11. The end of the week. The EU economy falls into recession.

RSS feed for Forex Review 11.08.2019 at 13:35

Daily analytical reviews of the Forex market

4-hour timeframe

the Amplitude of the last 5 days(high-low): 46p – 110 points – 82p – 63p – 59p.

the Average amplitude over the last 5 days: 72p(74p).

the Trading week ended with the EUR/USD pair without incident. On Friday, August 9, no important macroeconomic reports in the EU and America were not published, and the first person States and the Alliance was silent and in no way pleased with the Forex market. Thus, during the whole observed the same flat that started a few days earlier. We continue to believe that the potential strengthening of the European currency is very limited and the factors that can support the Euro, can only be technical. That is a necessity from time to time be adjusted, allows the Euro to show growth. But from a fundamental point of view, everything is bad for the Euro. Macroeconomic indicators of the EU and its main economy, Germany continues to decline, to slow down and just fall, indicating a recession, the recession of the economy of the EU. Thus, the fact that the fed lowered interest rates and could do it several times, fades into the background, because the European regulator will have in the near future to ease monetary policy, but in addition the ECB could still raise the asset purchase program and run the program long-term crediting of commercial banks that will suffer first from declining rates on deposits, which now stands at -0.4 per cent. Well, everything is together forgotten that just a few months ago Donald trump had intended to start a trade war with the EU, but only at the last moment took pity and postponed the imposition of duties on products of automobile industry for 6 months. And just closer to November-December, the U.S. President can "remember" about the postponement and then the European Union can obtain a "below the belt". It is clear that the United States also will suffer from new trade war, but trump, it seems, do not much care. But for the Euro it can be a serious shock.

Trading recommendations:

the EUR/USD Pair continues to be adjusted sideways, and not being able to overcome the level 1,1233. Thus, traders are advised to buy Euro with targets 1,1272 and 1.1305, but only after overcoming the level of R2 – 1,1233.

in Addition to the technical picture should also consider the fundamental reports and time of their release.

trading recommendations:

Ichimoku:

Tenkan-sen – red line.

the Kijun-sen – blue line.

the Senkou span a – light brown dotted line.

the Senkou span B – light purple dotted line.

the Chinkou span – green line.

the Indicator Bollinger bands:

3 yellow lines.

MACD:

the Red line and the histogram with white bars in the indicators ' window.The material has been provided by InstaForex company - www.instaforex.com