EUR/USD: outlook for August 25 - September 1

EUR/USD: outlook for August 25 - September 1

2019-11-11 • Updated

EUR/USD kept trading near the benchmark line of 200-week MA (1.1760). The euro continued its consolidation and stayed within a narrower range.

ECB President Mario Draghi avoided giving any clues on the European Central Bank’s current thinking in his speech in Germany. According to Draghi, central banks must be open-minded on policy innovations as they prepare for future economic developments. Another speech at Jackson Hole on Friday evening will set the tone for the next trading days. Other comments from the ECB policymakers were hawkish and bullish for the euro.

European economic data were mostly bright. Euro zone business growth maintained solid pace in August due to a strong manufacturing PMI, although the region’s services PMI declined. German Ifo business climate surprised to the upside. 

In the upcoming days, there will be some data releases of medium importance in the euro area. Pay attention to German preliminary CPI on Wednesday and flash consumer inflation figures for the entire euro zone on Thursday: these figures will be crucial for further ECB policy and, consequently, will move the market.

EUR/USD remains within the overall uptrend. Only a decline below 1.1650 will mean reversal to the downside. This level will become in focus if the euro slips below 1.1765 and 1.1690. An increase above 1.1845 is needed for the uptrend to continue. In this case, further bullish targets will lie at 1.1900 and 1.2000. 

EURUSDDaily.png

Similar

Pound Sterling’s Foggy Future
Pound Sterling’s Foggy Future

Weaker recoveries were seen in both the UK manufacturing and service sectors, with the latter recording the greatest loss of momentum since July.

Latest news

USD: Powell Speaks on Cutting Interest Rates
USD: Powell Speaks on Cutting Interest Rates

Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...

WTT: Currency Pairs To Trade In April
WTT: Currency Pairs To Trade In April

Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera