EUR/USD Forecast Euro Dollar July 31, 2020 FOREX24.PRO

EUR/USD forecast: Dollar should survive before it thrives

EUUSD forecast: Dollar should survive before it thrives

Fundamental U.S. dollar forecast for today

Investors do not believe in the U.S. economy and sell off the U.S. dollar

When the U.S. economy looks like a bubble, the dollar can’t but fall. Investors have not been confused by the biggest rise of the U.S. manufacturing PMI since February 2019. The U.S. employment in the private sector added 165,000 jobs in July, sharply missing expectations of more than 1 million new jobs. The number of jobless claims, according to the experts polled by the Wall Street Journal, should continue rising. When people had money granted by the government, they spent it. Now, they have run out of money. Democrats and Republicans can’t reach an agreement on the extra financial aid package, and this is a big problem.

Dynamics of U.S. employment


Source: Wall Street Journal
The $600 unemployment boost expired on July 31. It will result in a sharp decline in household spending and a slowdown in the U.S. GDP recovery. In the middle of summer, over 12 million people received benefits, which allowed them to pay rent, utilities, auto, and other loans. Now, financial aid has finished, and the debts continue growing.
The unemployment benefits, supporting consumer spending, is only the tip of the iceberg. The US labor market is weak, which kills the hope for the V-shaped GDP rebound. According to the poll of the National Federation of Independent Business, about 20% of firms plan to lay off workers after using the loans from the Paycheck Protection Program. According to Cornell University, one in four workers, recruited back through the program, received a notice that they could be fired again.
The grim outlook of the U.S. economy contrasts with the confidence in a soon rebound of the euro-area GDP, which is signaled by the euro-area PMI report, which is stronger than the flash data.

Dynamics of euro-area PMIs


Source: Bloomberg
According to the Societe Generale, there is no doubt the dollar has made a cyclical turn now and should continue falling amid the current Fed’s monetary policy stance and the outlook for the U.S. growth over the next few years. 33 of 62 experts surveyed by Reuters said the USD bear trend would continue for at least another six months. 15 analysts, said it would be less than six months. While 11 said it would be less than three months, just three respondents said it was already over. The consensus view suggests the EUUSD will be trading at 1.18 in August 2021, which is the highest in a year.
In my opinion, the market is too fast. It starts pricing the weak data on the U.S. nonfarm payrolls in July. As a result, volatility risks are growing. The euro could grow first, and, next, it could fall even faster, as big traders should be exiting longs. However, we should see the publication of the U.S. jobless claims data, which can push the EUUSD up above 1.192. I recommend holding the long positions opened at level 1.173 and preparing for exiting a part of trades.
For more information follow the link to the website of the LiteForex
https://www.liteforex.com/blog/analysts-opinions/eurusd-forecast-dollar-should-survive-before-it-thrives/?uid=285861726&cid=79634
submitted by Maxvelgus to Finance_analytics [link] [comments]

EUR/USD forecast: Poor management will kill dollar

EUUSD forecast: Poor management will kill dollar

Fundamental U.S. dollar forecast for today

EUUSD pair is being corrected, but the euro uptrend is strong

You can take all my factories, all my capital, everything I have from me. But leave me five of my best managers, and before you know it, I’ll be ahead of everyone else again. One of the richest men of the 19th century, Andrew Carnegie, was right. Success in business depends on efficient management. Forex trading is also a business. The strength of a currency is determined also by efficient management. The euro-area used to envy the USA that could afford to redistribute financial resources from strong states to weak ones. Only the pandemic has forced the EU to abandon the principle “at court everyone is for himself.” It has immediately influenced the EUUSD.
In the modern world, a bet on a currency is a bet on the control over the coronavirus. However, Congress failed to agree on the extension of the program of weekly unemployment benefits that officially expired on July 31, leaving more than 25 million people without support. In Europe, however, the rich North provides aid for the poor South. So, the management in the euro-area seems to be more effective. Financial analysts suggest that poor management could kill the US dollar.
In August, the USD index has featured the worst drop over almost two years. The bear speculative
sentiment in the derivatives market is as strong as in April 2018.

Dynamics of US dollar speculative positions

Source: Wall Street Journal.
As I suggested earlier, weak data on European GDPs triggered the EUUSD correction. However, amid the divergence in the epidemiological environment, the euro-area economy is likely to recover sooner than the US growth. Federal Reserve Bank of Minneapolis President Neel Kashkari has even suggested a fresh lockdown for 4 – 6 weeks. Allegedly, the US Congress can afford it.
The euro-area GDP in the April-May period fell by 40.3% on an annual basis, which, compared with the same period of 2019, seems to be a more dramatic drop than the US GDP drop by 32.9%. However, population support programs will continue in 2021; the worst-affected regions, including Italy, performed better than expected. The control over the coronavirus relieves fear, which is a key factor in the economic recovery trend.

Dynamics of European GDPs

Source: Bloomberg
Of course, there are many problems in the euro area. The European economy is much dependent on exports and tourism, which makes foreign demand a very important factor. Under the current conditions, it could slow down the economic recovery. Besides, the number of coronavirus cases has increased amid the end of the lockdown in some parts of the region, including Spain.
The epidemiological situation in the US is difficult, the management is poor. Besides, the US even now, when all the countries try to unite to solve a common problem, continues its attacks on China trying to please the ambitions of the White House. All these factors support the idea of the strong EUUSD uptrend. It makes sense to use the drawdowns to 1.173, 1.168, and 1.162 to enter long-term purchases.
For more information follow the link to the website of the LiteForex
https://www.liteforex.com/blog/analysts-opinions/eurusd-forecast-poor-management-will-kill-dolla?uid=285861726&cid=79634
submitted by Maxvelgus to Finance_analytics [link] [comments]

EUR/USD Technical Analysis for July 28, 2017 by FXEmpire.com EUR/USD Technical Analysis - 16/07/2020 EUR/USD Technical Analysis for July 3, 2020 by FXEmpire EUR/USD and GBP/USD Forecast June 16, 2020 EUR/USD Technical Analysis for June 9, 2020 by FXEmpire EUR/USD Technical Analysis for June 2, 2020 by FXEmpire Weekly Forex Forecast XAUUSD, EURUSD, GBPUSD, AUDUSD, USDCAD, USDJPY, USDCHF July 27 - 31, 2020 EUR/USD Technical Analysis for June 30, 2020 by FXEmpire Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, NZDUSD ... EUR/USD, GBP/USD Analysis & Setups 20-21 July '20

EUR/USD Forecast July 27-31 – Euro soars to 22-mth high 0. By Kenny Fisher Published: Jul 26, 2020 17:09 GMT Last Modified: Jul 29, 2020 17:57 GMT EUR/USD Forecast, Majors, Weekly Forex Forecasts. EUR/USD jumped 2% last week, as the pair climbed to its highest level since September 2018. There are five events in the upcoming week, including eurozone and German inflation. Here is an outlook ... USD/RUB Forecast Russian Ruble July 31, 2020. An additional signal in favor of raising the USD/RUB currency pair on July 31, 2020 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the growth option for the USD/RUB pair on ... On July 31, 2020 the Official EUR to USD Exchange Rate: Close: 1 EUR = 1.1779 USD. Best: 1 EUR = 1.1907 USD. Worst: 1 EUR = 1.1765 USD. Today's Live Euro to US Dollar Spot Rate: EURUSD Daily Forecast: July 31; EURUSD Forecast The EURUSD continued its bearish momentum yesterday bottomed at 1.0892 but traded higher earlier today hit 1.0946. The bias remains bearish in nearest term retesting 1.0892. A clear break below that area could trigger further bearish pressure testing 1.0820 key support. Immediate resistance is seen around 1.0950. A clear break above that area ... EUR/USD and GBP/USD Forecast - 31 July 2018. Christopher Lewis on July 31, 2018 Updated On Jul 30, 2018 Latest News. EUR/USD Technical Analysis: Anticipation of ECB’s Policy . 10 hours ago Mahmoud Abdallah Technical Analysis Gold Technical Analysis: Upward Momentum . 10 hours ago Mahmoud Abdallah Technical Analysis GBP/USD Technical Analysis: Negotiations and Developments. 11 hours ago ... EUR/USD forecast Euro Dollar on July 31, 2020. As part of the forecast, the Euro/Dollar pair is expected to test the level of 1.1690. Where can we expect an attempt to continue the growth of the EUR/USD pair and the further development of the upward trend. The purpose of this movement is the area near the level of 1.1950. The conservative ... As part of the Forex forecast for July 31, 2020, we should expect an attempt to continue the downward correction and test the support level near the 1.1595 area. Further, a rebound and continued growth of the Euro/Dollar currency pair. The potential target of such a movement on FOREX is the area above the level of 1.2005. EUR/USD Forecast Euro Dollar July 31, 2020. An additional signal in ...

[index] [4311] [17593] [18274] [12172] [21426] [13179] [3740] [25891] [16575] [20850]

EUR/USD Technical Analysis for July 28, 2017 by FXEmpire.com

The Euro has gone back and forth during the trading session on Monday, as we are starting to see the Euro recognize gravity for the first time in a couple of weeks. For the full article: https ... Weekly Forex Forecast for XAU/USD, EUR/USD, GBP/USD, AUD/USD, USD/CAD, USDCHF, USD/JPY July 27 - 31, 2020 by Forex Daily, Forex free VIP signals, Daily forex forecast , daily forex signals, daily ... EUR/USD Technical Analysis for July 3, 2020 by FXEmpire ... Weekly Forex Forecast for EURUSD, GBPUSD, NZDUSD, GBPNZD, VETUSD (July 6 – 10, 2020) - Duration: 12:30. Justin Bennett 10,100 views ... Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, USDJPY, NZDUSD, and USDCAD through June 12, 2020. Watch this ... Published on Jul 15, 2020 We have been in a swing trade long in the EUR/USD for over a month and reached our second target in the mid 1.1400s which allowed us to lock in 2/3's of our position. For ... EUR/USD and GBP/USD Forecast June 30, 2020 ... Weekly Forex Forecast for EURUSD, GBPUSD, AUDUSD, NZDCAD, XAUUSD (December 30 - January 3, 2020) - Duration: 17:31. Justin Bennett 13,558 ... The Euro initially tried to rally during the trading session on Monday but found enough resistance near the 1.1150 level to find sellers again. For the full article: https://www.fxempire.com ... EUR/USD and GBP/USD Forecast July 28, ... DailyForex 931 views. 1:41. 27-31 July 2020 Weekly Forex Forecast Gold Oil EURUSD - Duration: 10:22. Fx Market Strategy 1,550 views. 10:22. Weekly ... The EUR/USD pair continue to rally a bit during the day on Thursday, but gave back a significant amount of the.... For the full article go to https://www.fxe... WTI Crude Oil Forecast July 31, ... Euro US Dollar - Practical Forex Trading - Duration: 7:56. Practical Forex Trading 608 views. 7:56. EUR/USD and GBP/USD Forecast June 22, 2020 - Duration: 1:01 ...

https://arab-binary-option.cesmelab.tk