Forecast EUR / USD from August 12 to 16 – The euro bounces again with strong positive aspects

German ultimate CPI: Tuesday at 18:00. Buyers are eager about inflation ranges in Germany, the biggest financial system within the euro zone. The preliminary studying of the German CPI is established at zero.5% and the second studying ought to affirm this forecast.
German ZEW: financial local weather: Tuesday at 9:00. This key confidence indicator fell sharply to -24.5 in July, barely decrease than the -22.1 forecast. One other drop is predicted in August, with an estimate of -27.eight. The euro space indicator stood at -20.three in July and the estimate for August at -21.7.
German preliminary GDP: Wednesday, 6 hours. The German financial system grew by zero.four% within the first quarter, which corresponds to the estimate. The state of affairs seems to be completely different within the second quarter, with an preliminary estimate of zero.1%.
French ultimate IPC: Wednesday, 6:45. Inflation stays low within the second-largest financial system within the euro space and rose zero.2% in June. Markets count on a drop of zero.2% in July.
Flash GDP of the euro zone : Wednesday, 9:00. The euro space financial system grew by zero.2% within the first quarter, in accordance with preliminary July estimates. The second estimate ought to affirm this acquire.

EUR / USD Technical Evaluation

Technical traces from high to backside:

We begin with the resistance at 1.1621. This line lasts because the first week of October.

1.1515 was a peak on the finish of January. 1.1435 was a low level in early February.

The 1.1390 ​​was a stepping stone upward in late January and capped the EUR / USD earlier.

The 1.1345 is the next. 1.1290 has resisted because the first week of July.

Close by, the 1.1270 was a double backside in December 2018.

1.1215 (talked about final week) is the subsequent line of resistance.

1.1119 rose to help early within the week because the EUR / USD posted strong positive aspects.

1.1025 was a cap in Might 2017.

The following is 1.0950.

1.0829 has been in help since April 2017. That is the most recent stage of help for the time being.

I stay bearish on the EUR / USD

The euro zone's financial system stays weak and key indicators level to a weak second quarter for Germany, the eurozone's largest financial system. With the escalating international commerce tensions, the euro might face headwinds.

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