28 July EURUSD trading outlook

Trading EURUSD? This 28 July EURUSD trading outlook from ADS Securities’ team of market analysts will come in handy. What is your projection?

 28 July, ADS Securities – Despite an unexpected rise in the German consumer confidence index to a sixteen-year high level in August, the Euro traded lower against the US Dollar in the prior session and closed at 1.1677, after making a low at 1.1650.

28 July EURUSD trading outlook

At present, the pair is trading with a positive bias on the 1H chart, hinting the presence of bullish momentum in the coming session. In addition, the MACD indicator has witnessed a signal line crossover from below, further endorsing the above stance. Besides, traders would eye inflation data in Germany and key economic indicators in Eurozone, to be released today.

Immediate resistance is located at the 1.1705 level, followed by the 1.1735 and 1.1770 levels. A surge above the latter might trigger positivity in the pair. Conversely, crucial support is placed at the 1.1660 level, followed by the 1.1635 and 1.1600 levels.

28 July EURUSD trading outlook

ADS Securities Risk Disclaimer

Trading foreign exchange, foreign exchange options, foreign exchange forwards, contracts for difference, bullion and other over-the-counter products carries a high level of risk. Hence, it may not be suitable for all investors.

All opinions, news, analysis, prices or other information contained in this communication are provided as general market commentary. It does not constitute investment advice. Nor a solicitation or recommendation for you to buy or sell any over-the-counter product or another financial instrument.

    Share Your Opinion, Write a Comment