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Today the US Dollar is Appreciating Against the EURO
Today the US Dollar is Appreciating Against the EURO
Posted

By - Jamel Lahiani

Posted - 23-07-2019
  • The US Dollar is bearish: Sell at short term if you have validation.
  • The US Dollar is bearish: Sell at long terms.

Today our analysis will be concerned with EURUSD:

EURUSD: The most traded currency pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999.

CLICK ALSO: Summary Market Report: 8-19 July 2019

GRAPHIC 1: EURUSD DAILY CHART (JULY 23, 2019)
The daily chart is under the resistance line in red. The resistance line is decreasing. It is more plausible that the pair is bearish and a swing entry could be taken if there is confirmation by the publication of fundamentals data by the US government.

GRAPHIC 2: EURUSD 1 HOUR PRICE CHART (JULY 23, 2019)
The hourly chart is belongs the resistance line in red. But, the resistance line is decreasing. Also, the EURUSD chart breaks the support line in green. The EURUSD pair movement is bearish. The Federal Housing Finance Agency provides an estimated value of housing market conditions: Housing Price Index (MoM) and Existing Home Sales (MoM). This data will be published respectively at 15H and 16H GMT and can have an important effect to the EURUSD pair price.

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