Overview of EUR / USD as of July 30, 2018
EUR / USD
On Friday, in the first half of the day, economic data on France came out. The GDP for the 2nd quarter showed an increase of 0.2% against expectations of 0.3%, and consumer spending for June added just 0.1% against expectations of 0.6 %. The data raised investor interest in US economic data. US GDP for the 2nd quarter showed very good growth: 4.1%. The forecast was 3.8% -4.2%, but even earlier the US government released a rumor about a possible incredible growth to 4.8%. As a result, investors’ expectations turned out to be overheated, and by the end of the day, the euro grew by 15 points.
Technically, the picture has not changed; the price is still held under the red balance line and the blue trend also continues to play a supporting role (1.1600). The breakdown of the line will entail an increase in bearish market sentiment, the subsequent target is 1.1475-1.1508. And further on 1.1300.
On the four-hour chart, the price is also under all the indicator lines, the Marlin oscillator on both scales shows a decline in the trend.
Today, unfinished sales in the secondary real estate market for June are forecast for the USA – 0.4% forecast, tomorrow personal income and consumer spending for June – 0.4% forecast, which creates a good mood for dollar buyers.