- Outlook EUR / USD indicates construction enthusiasm due to trade talks between the United States and the eurozone.
- Moody has reduced the U.S. Government’s credit rating.
- American data on Friday discovered a weaker consumer sensitive feeling.
EUR / USD appears to build whiteness due to trade talks between the United States and the eurozone, which increases the euro. At the same time, the dollar fell after the credited credit score of the American government.
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The financial time reported that serious trade talks started between the United States and the eurozone. The news increased the probability of a trade agreement, strengthening the euros. The United States has already signed entries in the UK and China, improving the risk appetite. An agreement with the eurozone would further inhale the appearance of the global economy.
By the way, Moody reduced the U.S. Government’s credit rating due to huge and growing debt. Demand for American property, including the dollar. A weak dollar allowed the euro to get to get the beginning of the week.
Data on Friday discovered a weaker consumer sensitive feeling in the US. American consumers lost confidence in the American economy, because Trump began his aggressive tariff campaign. However, recent data has shown resilience, especially in the labor market. Therefore, Fed does not rush into lower borrowing costs. However, experts believe that incoming data in the next few months may continue to reflect the negative impact of Trump tariffs on the economy. However, currently, market participants expect the next price to reduce in September.
EUR / USD Key events Today
Participants in the market are not looking forward to any key releases from the United States or the Eurozone.
EUR / USD Technical Outlook: Bulls Eye 1.1301 Resistance
On the technical side, EUR / USD price rose above 30ths, showing that the bulls have strong leadership. At the same time, RSI trades above 50 years, proposes solid prayers’ momentum. Sentiment recently transferred after the price found support at the key level 1,100.
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The bulls showed up at this level with enough power to push over 30ths. After that, the price consolidated some time near SMA before they gather according to the levels of resilience at 1,1301. The break above this level would make a bigger high, strengthening of bicocracy.
Moreover, it would clean the trail for EUR / USD to reset the key psychological level of 1,1500. To start a bikovski trend, the price would have to create a form of larger high and more lowest value.
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