EUR/USD Review, August 19-23, 2019
19 августа 2019
The currency pair declined last week due to the weaker than expected German ZEW Economic Sentiment, which continued to decline being in negative area.
US data was more positive than expected. US CPI has reached 0,3% growth as it was expected. US Core CPI reached 0,3% growth, which was higher than expected.
Retail Sales wen upwards as well. Core Retail Sales has reached 1,0% growth. Philly Fed Manufacturing Index has reached 16,8, which was higher than 10,1, forecasted by the experts.
The currency pair is able to grow regardless the fundamental pressure. EUR/USD is likely to have a correction as there is a hammer pattern on the chart. This model will be rejected if the price will break down its low.
