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EURUSD Forecast And Technical Analysis 07-27-2018

EURUSD Forecast And Technical Analysis 07-27-2018

Fundamentals: 

  • Draghi confirmed that rates will remain on hold at least until September 2019.  And it is not a secret that he does not want a stronger EURO.
  • U.S Q2 GDP will be released today. 4.1% is expected.

Technically:

The pair is trading at 1.16500 as of writing. The price is below EMA 50  and EMA 100. RSI headed south.

Midterm:

1.17500 is the main resistance and pair will be under bearish pressure as long as it holds below.

1.16500 is the critical support. Upside, 1.16800  and 1.17100  are the key levels to watch.  The downside, 1.16100  is the key support. Break below 1.16100 will carry the price 1.15700 and 1.15200.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

 

EURUSD:   Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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