The EUR/USD pair will fall in the near term, according to the daily and weekly charts. The price is above EMA 20, EMA 50, and EMA 100 on the daily chart. The MACD indicator is into negative territory. The RSI oscillator on the weekly chart is above 50, and the downtrend RSI pattern is in the progress of getting completed. The price on the weekly chart is still above EMA 20, EMA 50, and EMA 100, and the stochastic moves down. EUR/USD pair also declines because of the interest rate differentials between the US and Eurozone. The interest rate in the US is higher than the interest rate in Eurozone.
The most important data from this week:
November 27
US GDP Q3 (1.9% expectation); ( 1.9% previous)
November 28
Germany CPI YoY (1.2% expectation); ( 0.9% previous)
MoM (-0.6% expectation); ( 0.1% previous)
November 29
Germany Unemployment Change (5k expectation); (6k previous)
Unemployment Rate (5.0% expectation); ( 5.0% previous)
Eurozone CPI YoY (1.2% expectation); (1.1% previous)
MoM (-0.4% expectation); ( 0.1% previous)
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