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[QUOTE="Antony_NPBFX, post: 197629, member: 38727"] [SIZE=5][B]EUR/USD: EUR remains under pressure 21.07.2021 [/B][/SIZE] Good afternoon, dear forum visitors! [URL=https://www.tb.marketinstructor.com/?referer1=earnforex.com]NPBFX[/URL] offers the latest release of analytics on EUR/USD for a better understanding of the current market situation and more efficient trading. [B]Current trend [/B] EUR shows a slight decline against USD during the Asian session, developing a fairly stable "bearish" trend, which pushes the instrument to new local lows since April 5. The atmosphere of risk distrust still prevails in the market. Investors are alarmed by another increase in the incidence of coronavirus in the world, fearing that the pace of economic recovery may slow down again, and some countries will introduce new restrictive measures. Yesterday's macroeconomic statistics from Germany and the eurozone did not provide any additional support for EUR. Producer Price Index in Germany accelerated in June from +7.2% YoY to +8.5% YoY, in line with analysts' forecasts. On a monthly basis, the indicator slowed down from +1.5% MoM to +1.3% MoM, being slightly better than forecasts at +1.2% MoM. At the moment, investors are preparing for the meeting of the European Central Bank (ECB), which will take place tomorrow. Analysts do not expect any changes in the vector of the regulator's monetary policy, but comments from officials and updated forecasts for the near future will be very interesting. [b] Support and resistance [/b] Bollinger Bands in D1 chart demonstrate a moderate decrease. The price range expands from below, making way for new local lows for the "bears". MACD is declining keeping a weak sell signal (located below the signal line). Stochastic is declining somewhat more confidently, indicating growing risks of oversold EUR in the ultra-short term. Resistance levels: 1.1800, 1.1846, 1.1900, 1.1950. Support levels: 1.1754, 1.1700, 1.1657, 1.1600. [img]http://businesspr-finance.com/wp-content/uploads/2021/07/EURUSD210721-33.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2021/07/EURUSD210721-3333.png[/img] [b] Trading tips [/b] To open new short positions, one can rely on the breakdown of 1.1754. Take-profit – 1.1657. Stop-loss – 1.1800. Implementation time: 1-2 days. A rebound from 1.1754 as from support followed by a breakout of 1.1800 may become a signal for new purchases with the target at 1.1900. Stop-loss – 1.1754. [B]Use more opportunities of the NPBFX analytical portal: economic indicators [/B] Regular monitoring of global economic indicators plays an important role in trading, because of their strong influence on FOREX market and possibility to provoke significant price fluctuations. For the convenience of traders the "Education" section on the NPBFX portal contains the most popular and significant world economic indices with a detailed description, their possible impact on the economy and exchange rates (GDP, consumer price index, unemployment rate, Nonfarm Payrolls (NFP), etc.). If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on EUR/USD and trade efficiently with [URL=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex.com]NPBFX[/URL]. [/QUOTE]
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