empty
 
 
30.07.2021 05:26 AM
Forecast for EUR/USD on July 30, 2021

EUR/USD

Yesterday's economic data played into the hands of strategic buyers of the euro - even on average volumes, the single currency gained 43 points - this is the largest daily growth of the week. Unemployment in Germany in July decreased from 5.9% to 5.7%, the index of manufacturing sentiment in the euro area for the current month increased from 12.8 to 14.6, the harmonized consumer price index in Germany increased from 2.1% y/y up to 3.1% y/y. And in the US, GDP for the second quarter showed an increase of 6.5% against the forecast of 8.5% and the previous figure was revised down from 6.4% to 6.3%. US reports were even summed up by applications for unemployment benefits - the weekly figure was 400,000 against the forecast of 380,000.

Today there are data on expenses and income of individuals for June. Revenues are forecast to decline 0.3% after the previous -2.0%, expenses may increase 0.7% versus the previous 0.9%. Such data is able to push for the euro's growth.

This image is no longer relevant

The price stopped at the balance indicator line on the daily chart. The signal line of the Marlin oscillator has left its own channel upwards, now, after a short break, the price will attack the important resistance at 1.1925, consolidating above which opens the target at 1.2050.

This image is no longer relevant

The situation is completely upward on the four-hour chart. The Marlin Oscillator has turned down, but this appears as a discharge of the indicator before further growth. The correction limit is seen at the level 1.1850.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback