MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Global macro overview for 25/08/2016

Global macro overview for 25/08/2016:

The Existing Home Sales data from US disappointed global investors. According to the National Association of Realtors, sales of existing properties dropped more than expected last month to the level of 5.39M (-3.2%), while economists anticipated just a slight decrease to the level of 5.52M (-0.1%) from 5.57 (1.1%) a month ago. Nevertheless, economists blame the seasonal factors and still expect the further sales to pick up later this year. In conclusion, the housing sector plays a vital role in the US economy results, but is not being counted to the overall GDP figures mainly due to its sensitivity to business cycle twists.

Let's now take a look at the EUR/USD technical picture in the 4H time frame. Bears have managed to push the price lower towards the important key support at the level of 1.1233, but the market reversed after it hit the dashed blue trend line. Currently, the market is still trading in tight horizontal congestion zone between the levels of 1.1363 - 1.1233 as it is awaiting the Jackson Hole economic summit.

analytics57beb5a72f693.jpg

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