By - Jamel Lahiani
Today our analysis will be concerned with EURUSD, the most traded currency pair in the world. This pair represents the world’s two largest economies and has faced most volatility since the inception of the euro in 1999.
FOREX Market Insights
The market still expecting the trump rate cut impact at short term. US stocks have record more than 1% increase, issued from gains in the trade-sensitive technology and industrial sectors, as China expressed hope on trade negotiations but investors still frustrated from trade war. The progress in trade negotiation depends on mutual understanding and favorable conditions.
Eurostat will publish the consumer price index indicators that captures the changes in the price of goods and services and The Unemployment Rate that measures the number of unemployed workers divided by the total civilian labor force at 9H00 GMT. Those indicators could have a significant effect on the EURUSD pair evolution.
GRAPHIC 1: EURUSD HOURLY CHART (AUGUST 30, 2019)
We have a bearish trending market inside the colored channel. The MA14 in blue color is decreasing. A good entry to the market could be to enter the market at the break of the channel limit.
If after the publications at 9H00 GMT, the pair breaks the channel and close outside, a high probably powerful trend could be happen.
Copyright © MMXVI - MMXX. Africa 360 Degrees | African Economics | Business | and Political affairs 360 degrees coverage | Independent | Analysis | Insight | africa360degrees.com. All Rights Reserved.