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Euro - Dollar Analysis

US Session Analysis for CFD Instruments 31/07/2020

Fundamental analysis

31 July, 2020

The Euro rallied against the US Dollar this morning before pulling back and then falling below where it opened to trade around 1.1829. There was a lot of data from the EU and its member states today. German Retail Sales for June beat expectations both Month-over-Month and Year-over-Year, coming in at -1.6% and 5.9% respectively. French CPI and consumer spending figures all came in stronger than analysts had forecast. French CPI printed at 0.4%, Month-over-Month. French Consumer Spending rose 9.0% in June, the forecast was for only 3.2%. Even Italian GDP beat expectations, contracting only 12.2% for the second quarter, Q-o-Q. The only worse than expected figures came out of the EU as a whole which saw Q2 GDP shrink 15%, Year-over-Year and 12.1%, Quarter-over-Quarter, both worse than the consensus forecast.

Technical analysis

Euro - Dollar Analysis Technical analysis 31/07/2020
Time Frame: 1 hour

EURUSD Support & Resistance Table - 31/07/2020

Support & Resistance Level Explanation
Resistance 2 1.1920 Daily R2
Resistance 1 1.1880 Daily R1
Support 1 1.1805 Daily S1
Support 2 1.1774 Daily S2

EURUSD Indicator Table - 31/07/2020

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

EURUSD Indicator / Period Table - 31/07/2020

Indicator / Period Day - BuyWeek - BuyMonth - Buy
MACD( 12;26;9) Buy BuySell
RSI (14) Sell BuyBuy
SMA 20 Buy BuyBuy

EURUSD 31/07/2020 - Reference Price : 1.1830

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (1)Sell (2)
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Euro - US Dollar Chart
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