EUR / USD expects: bull is encouraged
EUR / USD expects: bull is encouraged

The Asian session was quiet on the data front, though the local stock exchanges followed their overseas counterparts, the day below and the bond interest reaches the weekly summers they were in before the event. European indices are also negative, indicating that risk appetite is not over yet.

Germany July inflation figures remained unresponsive, with the data ahead of expectations and anticipation, while the Consumer Price Index (CPI) remained at 0.4% on a monthly basis and 1.7% on an annual basis. For the US, inflation is expected to reach 1.8% in July compared with the previous 1.6%, compared to the previous 0.2%, versus the previous 12-month period. Such a level or above may help the USD to recover against the Yen and weaken the GBP, but the move may be shallow against the Euro. On the other hand, a result below expectations may result in a recovery of EUR / USD to 1.1800.

On the third day in a row, the pair managed to advance to 1.1784 late Thursday, but quickly returned to the current comfort zone. The short-term picture is modestly positive, 4-hour tablord, price, 20 SMA downward and 100 SMA levels up a few pips in the RSI neutral zone, the Momentum indicator rises above 100, supporting a progression.

Significant technical levels for EUR / USD
1.1785, 1.1820 and 1.1850 / 60 levels of resistance may provide support for parity levels 1.1730, 1.1690, 1.1650 and 1.1610.

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