empty
05.09.2019 12:35 AM
EUR/USD. 4 September. Results of the day. Macroeconomic statistics supported the euro

4-hour timeframe

This image is no longer relevant

Amplitude of the last 5 days (high-low): 25p - 51p - 98p - 39p - 53p.

Average volatility over the past 5 days: 53p (average).

On Wednesday, September 4, the EUR/USD currency pair consolidated above the critical Kijun-sen line and as a whole continues the upward movement, which is now characterized precisely as a movement, and not as a correction. The first and most anticipated event of the day was a speech by Christine Lagarde to the Committee on Economic and Monetary Affairs of the European Parliament. Many traders feared that Lagarde's rhetoric would be similar to her speech last Friday, which brought the euro down. However, this time the fears were in vain. Christine Lagarde only stated that inflation in the EU will remain significantly below the target level in the near future, the eurozone economy may face new difficulties, and also said that it approves the actions of the ECB's board of governors, which maintain an accommodative monetary policy. Also, the future head of the ECB urged not to exert strong pressure on innovative tools, such as cryptocurrencies, in order to protect consumers as much as possible. In general, an interesting performance, but this time Lagarde did not report anything interesting, so traders ignored her performance.

But macroeconomic reports from the eurozone unexpectedly supported the euro. The Markit services business activity index exceeded the forecast value of 53.5, while the composite index in August was 51.9, which is also better than market expectations.In addition, retail sales in the European Union turned out to be better than analysts expected in July - an increase of 2.2% instead of 2.0% y/y previously forecasted. In monthly terms, the indicator still showed a decline of 0.6%. Nevertheless, on the whole, the package of today's statistics can be characterized as positive for the euro, so it is not surprising that its growth continued today. As usual, the main question is how long will the strengthening of the European currency last this time? It is no secret that in the long run, an openly downward trend persists. The overall fundamental background also remains extremely negative for the euro. It was only in the last two days that at first the US statistics disappointed, and then the European pleased. In addition, the impossibility of a constant fall of one currency (the euro in our case) and the banal sell-off of the euro/dollar pair with the bears' desire to take part of the profit on short deals and we get the current correction. But the general situation has not changed. Moreover, tomorrow an important ISM index for the US services sector will be released, and after tomorrow GDP for the second quarter of the eurozone and NonFarm Payrolls in the United States, and Jerome Powell will make a statement to complete the week. With such a fundamental background, it is unlikely that a clear strengthening of the euro can be expected.

The technical picture of the pair shows the willingness of the bulls to continue to gradually build up their positions. However, when the information that is negative for the euro is available to the traders, the bulls will immediately stop the attack and leave the market, and the euro will rush down again. Therefore, for buyers the pair is very important the next two days, strong macroeconomic statistics from overseas should not come.

Trading recommendations:

The EUR/USD pair continues the long-awaited correction. Thus, now long formally even long positions with goals 1.1076 and 1.1113, but small lots have become formally relevant. Tomorrow and the day after tomorrow it is recommended not to lose sight of all the important news, as the forex market could return to selling the euro/dollar currency pair.

In addition to the technical picture, fundamental data and the time of their release should also be considered.

Explanation of the illustration:

Ichimoku indicator:

Tenkan-sen is the red line.

Kijun-sen is the blue line.

Senkou Span A - light brown dotted line.

Senkou Span B - light purple dashed line.

Chinkou Span - green line.

Bollinger Bands Indicator:

3 yellow lines.

MACD indicator:

Red line and bar graph with white bars in the indicator window.

Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

Análisis del USDJPY para el 4 de noviembre de 2022

El USDJPY está a punto de proporcionar una nueva señal bajista según el indicador de nube Ichimoku. Como mencionamos en publicaciones anteriores, la resistencia en 148.90 sigue siendo clave

Alexandros Yfantis 14:23 2022-11-04 UTC+2

Análisis del indicador de nube Ichimoku sobre el oro para el 7 de septiembre de 2022

El precio del oro se cotiza alrededor de $1,-700. Usamos el indicador de nube Ichimoku para identificar los niveles de resistencia clave que deben romperse para que la tendencia

Alexandros Yfantis 17:08 2022-09-07 UTC+2

El oro sigue estancado en $1,710

A pesar de la debilidad del dólar, los alcistas del oro no han encontrado la fuerza para impulsar el precio al alza y superar la resistencia de $1,720-25. Como mencionamos

Alexandros Yfantis 17:29 2022-07-20 UTC+2

Análisis del indicador de la nube de Ichimoku del oro para el 12 de noviembre de 2021

El precio del oro se mantiene en una tendencia alcista ya que el precio está por encima de los indicadores tenkan-sen y kijun-sen en el gráfico de 4 horas

Alexandros Yfantis 18:53 2021-11-12 UTC+2

Análisis del indicador de la nube Ichimoku sobre el oro para el 1 de octubre de 2021

El precio del oro está desafiando la nube Ichimoku de 4 horas (Kumo). El precio todavía está por debajo del Kumo, lo que implica que la tendencia sigue siendo bajista

Alexandros Yfantis 18:22 2021-10-01 UTC+2

Análisis de indicadores de la nube Ichimoku del oro para el 24 de septiembre de 2021

El precio del oro se mantiene en tendencia bajista. El precio fue rechazado por la resistencia de la nube del gráfico de 4 horas. El precio está haciendo mínimos

Alexandros Yfantis 19:52 2021-09-24 UTC+2

El oro sigue vulnerable y en una tendencia bajista

El precio del oro ha subido de $1,780 a $1,800, sin embargo, según el indicador de nube de Ichimoku, esto no tuvo mayor importancia. Advertimos a los operadores que para

Alexandros Yfantis 17:11 2021-09-15 UTC+2

Análisis del indicador de la nube Ichimoku del oro para el 25 de agosto de 2021

El precio del oro se cotiza a $1,785 ya que el precio fue rechazado por la resistencia de la nube. En nuestras publicaciones anteriores, advertimos a los operadores

Alexandros Yfantis 17:27 2021-08-25 UTC+2

Análisis del indicador de la nube Ichimoku del oro para el 22 de julio de 2021

Gold price is at $1,797. Gold price is below the 4hour cloud. This is a sign of weakness. Gold price is vulnerable to a move lower, unless bulls manage

Alexandros Yfantis 16:17 2021-07-22 UTC+2

Análisis del indicador de la nube Ichimoku del EURUSD para el 16 de junio de 2021

El EURUSD en el gráfico diario sigue en una tendencia alcista según el indicador de la nube Ichimoku, pero con el precio por debajo del tenkan-sen y kijun-sen, es vulnerable

Alexandros Yfantis 16:06 2021-06-16 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.