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Euro - Dollar Analysis

US Session Analysis for CFD Instruments 07/02/2019

Fundamental analysis

07 February, 2019

EUR/USD fell to its lowest rate since January 25 (1.13232) after EU Commission sharply cut on Thursday its forecasts for euro zone economic growth this year and next because it expects the bloc’s largest countries to be held back by global trade tensions and an array of domestic challenges. The Commission said euro zone growth will slow to 1.3% this year from 1.9% in 2018, before rebounding in 2020 to 1.6%. The new estimates are far less optimistic than those released in November, when Brussels expected the euro zone to grow 1.9% this year and 1.7% in 2020. The European Commission slashed its economic growth forecasts for Italy for 2019 and 2020 on Thursday. The Commission said Italian gross domestic product was likely to grow by only 0.2% in 2019, down from 1.0% in 2018 and against a 1.2% growth forecast the Commission made last November. Later this afternoon, US Initial Jobless Claims will be released.

Technical analysis

Euro - Dollar Analysis Technical analysis 07/02/2019
Time Frame: 1 hour

EURUSD Support & Resistance Table - 07/02/2019

Support & Resistance Level Explanation
Resistance 2 1.1393 Daily R2
Resistance 1 1.1365 Daily R1
Support 1 1.1307 Daily S1
Support 2 1.1278 Daily S2

EURUSD Indicator Table - 07/02/2019

Indicator Signal
SMA 20 Sell
SMA 50 Sell
SMA 100 Sell
MACD( 12;26;9) Sell
RSI (14) Buy
Stochastic ( 9;6;3) Buy

EURUSD Indicator / Period Table - 07/02/2019

Indicator / Period Day - SellWeek - SellMonth - Sell
MACD( 12;26;9) Sell SellBuy
RSI (14) Buy SellSell
SMA 20 Sell SellSell

EURUSD 07/02/2019 - Reference Price : 1.1336

Sell
Simple Moving AverageBuy (0)Sell (3)
Technical Indicators - OscillatorsBuy (2)Sell (1)
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