asarefredua
Short

EUR/USD to Lower Despite Good USA Retail Sales

FX:EURUSD   Euro / U.S. Dollar
Despite the positive economic news for USD; overcoming the forecasts of analysts that predicted only a 0.4% increase in retail sales, although it was actually a 0.6% increase. This fundamental analysis shows that the consumer spending within the economy of the USA is above par which can also conclude to good accounting and money management throughout the country.
Although, through Fibonacci analysis the 38.2 level is proving to be a very strong resistance line for the EUR/USD             pair and it is currently on a downtrend from looking at trend lines for previous H4 candlesticks . Also, a bearish spinning after the uptrend from the economic news just below the 38.2 Fibonacci level which indicates a 'bounce' from the resistance.
Comment: Small fakeout from trending channel from 15-16th August but seems to have found consolidation within the declining trend line again.
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out