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> EUR/USD Technical Analysis - July 14, 2017
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EUR/USD Technical Analysis - July 14, 2017

ArgusFX

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General Analysis

The EUR/USD oscillates within a stable formation slightly above today's critical area, the 1.1395 level.

EUR/USD stable above 1.1395

The latest bearish momentum noticed since July 12, 2017, may increase the probabilities of the sellers in retracing the pair once again to the downside.

On the other hand, the buyers could take advantage of the stability above the 1.1395 to their favor.

Probable Scenario

In the scenario where the EUR/USD holds above the 1.1395 area, the buyers may exert far more pressures leading the price as high as 1.1455.

Alternative Scenario

Alternatively, in the event where the pair breaks below the 1.1395, the sellers may force the EUR/USD as low a 1.1330.

Today’s Key Events

The euro zone’s Trade Balance n.s.a (May) and the Trade Balance s.a (May) releases may have a medium impact on the euro.

The U.S. Retail Sales (MoM) (Jun), the CPI (YoY) (Jun) and the CPI Ex Food & Energy (YoY) (Jun) releases are expected to have a strong influence on the U.S. dollar.

Read More

ArgusFX Review

Source: https://www.argusfx.com/en/research-education/market-analysis/technical/eurusd-technical-analysis-july-14-2017
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