Last weekend the EURUSD price drew a bearish candlestick extending the previous decline and reaching the middle band line.
If we go to the weekly TF, the price area is now at the low of the previous candlestick, which is a possible support zone.
in the previous week USD seems to have managed to gain some composure as US economic data is supportive and investors continue to assess the prospect of lower interest rates in September amid a strong economy.
US economic data released last week, annual Gross Domestic Product (GDP) growth for the second quarter was 3%, higher than the previous forecast of 2.8%. Unemployment Claims and Personal Consumption Expenditure/PCE are in line with market expectations.
This week investors will focus on several important news, JOLTS Job Openings data, ADP Non-Farm Employment Change, Unemployment Claims, and Non-Farm Employment Change which are high-impact news.
However, in today's economic calendar schedule, some economic news should be concerning including PMI manufacturing data for several European countries such as German, French, and Spanish.
View attachment 7366
If we go to the weekly TF, the price area is now at the low of the previous candlestick, which is a possible support zone.
in the previous week USD seems to have managed to gain some composure as US economic data is supportive and investors continue to assess the prospect of lower interest rates in September amid a strong economy.
US economic data released last week, annual Gross Domestic Product (GDP) growth for the second quarter was 3%, higher than the previous forecast of 2.8%. Unemployment Claims and Personal Consumption Expenditure/PCE are in line with market expectations.
This week investors will focus on several important news, JOLTS Job Openings data, ADP Non-Farm Employment Change, Unemployment Claims, and Non-Farm Employment Change which are high-impact news.
However, in today's economic calendar schedule, some economic news should be concerning including PMI manufacturing data for several European countries such as German, French, and Spanish.
View attachment 7366
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