Blacklist of scam sites

Forex Traiding

Last minute forecast for EUR / USD from 04/08/2021


The mood regarding the single European currency has changed dramatically. And the point is not that since the opening of the American session, it began to actively go down. This became clear even during the publication of the final data on the indexes of business activity in the euro area, which turned out to be much better than forecasts. For example, the index of business activity in the service sector rose from 48.8 points to 53.2 points, although the preliminary estimate showed an increase to 52.5 points. The composite business activity index was supposed to rise from 45.7 points to 48.8 points, but rose to 49.6 points. Nevertheless, the single European currency showed extremely modest growth. Much less significant than all the previous days, when the macroeconomic background could be described as absent. In other words, speculative excitement has already driven the single European currency so high that it simply has nowhere to grow. As a result, this led to its subsequent decrease. Composite PMI (Europe): Producer prices are being released in Europe today, which could accelerate from 0.0% to 1.1%. This is not just a leap forward. This is a direct indication of further growth of inflation, about which there are already too many fears. The market is seriously concerned that the European Central Bank will lose control of the situation and will be forced to sharply change the direction of its monetary policy. What European business is clearly not ready for. So even without any speculative interest in a decline in the single European currency, there will be quite a serious reason for the weakening. Producer Price Index (Europe): The EURUSD currency pair during the last trading day showed speculative activity, as a result of which it was possible to observe an upward and downward movement. The level of resistance on the way of buyers is the level of 1.1900, the role of support is played by the variable coordinates 1.1865. Market dynamics continues to delight traders, as volatility on a stable basis is at least average, which positively affects the volume of the daily fluctuation. If we proceed from the current location of the quotes, then another stagnation is seen during the Asian session, where the fluctuations do not exceed 25 points. Considering the trading chart in general terms, the daily period, it is worth highlighting the upward movement from the pivot point 1.1703 (March 31), the scale of which is not yet able to overcome the downward activity from the high of the medium-term trend at 1.2349. In this situation, it can be assumed that the amplitude within the 1.1860 / 1.1880 range will again become a catalyst for trade forces and will attract the attention of speculators. If we take into account the fact that the upward movement is slowing down, we will receive a sell signal if the price is kept below 1.1860, with the prospect of a move to 1.1830-1.1800. From the point of view of complex indicator analysis, we see that the indicators of technical instruments on the minute and hour intervals have a variable signal (buy / sell) due to the amplitude fluctuations of the price. – Source: InstaForex

Related posts
Forex Traiding

plan for the European session on April 16. Commitment of Traders COT reports (analysis of yesterday's deals). Traders are in no rush

Forex Traiding

Simple guidelines for entering and exiting the market for novice traders. (analysis of forex transactions). Currency pairs EURUSD

Forex Traiding

US market 16.04 Intrigue of the moment - who gets tired first - the US market or the Third wave of covid?

Forex Traiding

74% of professional investors consider Bitcoin and other cryptocurrencies to be a bubble.

Subscribe to our newsletter and
Stay up to date

Leave a Reply

Your email address will not be published. Required fields are marked *