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EURUSDdaily page 0011

The EUR/USD pair might fall in the medium-long term, according to our technical and fundamental analysis. The RSI oscillator remains below 50, and this is a clear sign of a downtrend. The price is also below EMA 20, EMA 50, and EMA 100, on the weekly chart. Even if this pair rises in the short term, it will enter into a medium-long term downtrend.
Possible Germany’s recession also sustains the EUR/USD downtrend. Germany, Europe’s industrial powerhouse and biggest economy may be entering a recession, according to a gloomy report from the country’s central bank. This could have repercussions for the rest of the eurozone and the United States.

The most important data of this week:

August 27
Germany GDP QoQ (-0.1% expectation); ( -0.1% previous)
YoY (0.4% expectation); ( 0.4% previous)
August 29
France GDP QoQ (0.2% expectation); ( 0.2% previous)
YoY (1.3% expectation); ( 1.3% previous)
Germany Unemployment Change (3.5k expectation); ( 1k previous)
Rate (5% expectation); ( 5% previous)
Germany CPI MoM (-0.1% expectation); (0.5% previous)
YoY (1.5% expectation); (1.7% previous)
US GDP QoQ (2% expectation); ( 2.1% previous)
August 30
Eurozone CPI YoY (1% expectation); ( -0.9% previous)
Italy GDP QoQ (0.00% expectation); (0.00% previous)
YoY (0.00% expectation); ( 0.00% previous)

weekly chart page 001

 

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