Thursday , August 18 2022

Euro Dollar continues to push conflicts following the first US statistics of the day


EUR / USD identifies new interactive numbers following US publications.

Commissions for glass goods rose 1.2% from 1.0% previously and 0.8% were expected. Core, less volatile and more representative core and resilient commodity orders rose, only 0.1% versus 0.2% expected and -0.2%.

In addition, the manufacturing index of Philadelphia Food has strongly shocked the decline, stood at -4.1 against 15.6 expected and 17.0 previously.

These two unexpected disappointments are heavy on the Dollar on the Forex, pushing the EUR / USD slightly higher on the session, after the previous conflicts. The post-European PMI bearish movement towards 1.1325 seems far behind us.

However, the objection is close to 1.1370, with the peak yesterday, before an area of ​​1.1380 / 85 and the threshold of 1.1400. A break above above 1.1370 would strengthen the bullish trend, but the resulting resistance will have to be addressed.

In terms of disadvantage, it is necessary to move under 1.1325 to consider correction towards 1.1305 and 1.1270.

On the economic calendar, we will continue the US PMI Market indexes at 15:45, and the sale of existing homes for 16 hours.

Currently, the EUR / USD is trading about 1.1360 on the Forex.

EUR / USD Chart H1

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