2020-08-06 15:46
Market analysisEUR/USD Outlook (06 August 2020)
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Market analysis：
Overall, EUR/USD is trending upwards.
The eurozone Final Services PMI data (Actual: 54.7, Forecast: 55.1, Previous: 55.1) released yesterday indicated a slight downward revision in the growth of the services sector in July.
Also, the eurozone Retail Sales m/m data (Actual: 5.7%, Forecast: 6.5%, Previous: 20.3% revised from 17.8%) released indicated a slowdown in consumer spending in June.
Currently, EUR/USD is moving towards the resistance zone of 1.19000 and the next support zone is at 1.17200.
Look for short-term buying opportunities of EUR/USD if it breaks above the resistance zone of 1.19000.
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EUR/USD Outlook (06 August 2020)
Singapore | 2020-08-06 15:46Overall, EUR/USD is trending upwards.
The eurozone Final Services PMI data (Actual: 54.7, Forecast: 55.1, Previous: 55.1) released yesterday indicated a slight downward revision in the growth of the services sector in July.
Also, the eurozone Retail Sales m/m data (Actual: 5.7%, Forecast: 6.5%, Previous: 20.3% revised from 17.8%) released indicated a slowdown in consumer spending in June.
Currently, EUR/USD is moving towards the resistance zone of 1.19000 and the next support zone is at 1.17200.
Look for short-term buying opportunities of EUR/USD if it breaks above the resistance zone of 1.19000.
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