2020-08-20 16:43
Market analysisEUR/USD Outlook (20 August 2020)
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Market analysis：
Overall, EUR/USD is trending upwards. Recently, EUR/USD bounced off the resistance zone of 1.19000 after the release of the dovish FOMC meeting minutes, causing a strong sell-off in the stock and bond markets, thus pushing the USD higher.
The eurozone final CPI y/y data released yesterday confirms the preliminary release of the CPI y/y data earlier this month that annual inflation in the eurozone is rising.
-Final CPI y/y (Actual: 0.4%, Forecast: 0.4%, Previous: 0.3%)
-Final Core CPI y/y (Actual: 1.2%, Forecast: 1.2%, Previous: 1.2%)
The European Central Bank will be releasing the minutes of the recent monetary policy meeting later at 1930 (SGT).
EUR/USD’s next support zone is at 1.17200 and the next resistance zone is at 1.19200.
Look for short-term selling opportunities of EUR/USD.
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EUR/USD Outlook (20 August 2020)
Singapore | 2020-08-20 16:43Overall, EUR/USD is trending upwards. Recently, EUR/USD bounced off the resistance zone of 1.19000 after the release of the dovish FOMC meeting minutes, causing a strong sell-off in the stock and bond markets, thus pushing the USD higher.
The eurozone final CPI y/y data released yesterday confirms the preliminary release of the CPI y/y data earlier this month that annual inflation in the eurozone is rising.
-Final CPI y/y (Actual: 0.4%, Forecast: 0.4%, Previous: 0.3%)
-Final Core CPI y/y (Actual: 1.2%, Forecast: 1.2%, Previous: 1.2%)
The European Central Bank will be releasing the minutes of the recent monetary policy meeting later at 1930 (SGT).
EUR/USD’s next support zone is at 1.17200 and the next resistance zone is at 1.19200.
Look for short-term selling opportunities of EUR/USD.
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