Overview of the EUR / USD as of July 27, 2018

EUR / USD

On Thursday, as expected by most market participants, the ECB retained absolute neutrality regarding monetary policy. Mario Draghi confirmed that the rate will not change until the end of next summer. Against this background, the slightly worse than expected data on orders for durable goods in the US in June were taken by investors optimistically. Durable Goods Orders showed an increase of 1.0% against expectations of 3.0%, Core Indicator Core Durable Goods Orders showed an increase of 0.4% against expectations of 0.5%.

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The price on the chart of the daily scale went under the balance priceline (red), and the signal line of the oscillator Marlin quickly moved to the zero line, reporting the launch of a downward trend. Since the Krusenstern trend line has fallen over the past day, the support for the price was level 1.1607. After its overcoming in full measure, the scenario for the medium-term reduction of the euro will be launched. The nearest target is the range 1.1475-1.1508.

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On the four-hour chart, the downward trend is completely formed. The price was fixed under all indicator lines, the oscillator Marlin also indicates the development of bearish sentiment.

Today, the main event will be the publication of US GDP for the 2nd quarter (13:30 BST). The forecast is very good - 3.8% -4.2%. We are looking forward to a good development for the dollar.

The material has been provided by InstaForex Company - www.instaforex.com