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Technical Analysis
Video | Market Technical | Solid ECN
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[QUOTE="SOLIDECN, post: 213211, member: 80239"] [JUSTIFY][B]EURUSD - In anticipation of poor statistics on business activity in the EU[/B] The European currency is showing negative dynamics against its main competitors in anticipation of tomorrow's publication of an extensive block of macroeconomic statistics: analysts predict a decline in business activity indicators for September in almost all leading EU countries. Thus, Composite PMI in Germany may fall to 46.0 points from 46.9 points in August, and Composite PMI in France may fall to 49.8 points from 50.4 points earlier. EU Composite PMI index of business activity in the EU is expected to be 48.2 points, down from 48.9 points in the previous period. Yesterday, analysts' attention was focused on the US markets. The US dollar renewed the year's high and is currently trading around 111.200 in the USD Index after the country's financial regulator raised its interest rate by 75.0 basis points to 3.25% and provided forecasts for the development of the economic situation. Expectations worsened on all three main indicators: inflation in 2022 is expected at 5.4% from 5.2% previously, unemployment will increase to 3.8% from 3.7% earlier, and economic growth may slow to 0.2% from 1.7% earlier, which most disappointed experts, as the decline in the gross domestic product (GDP) confirms the annual recession. [img]https://i.ibb.co/CKzyNxV/eurusd.png[/img] The trading instrument is moving within the global downward channel, falling towards the support line. Technical indicators maintain an increasing sell signal: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO oscillator histogram is forming bars in the sell zone. [B]Resistance levels[/B]: 0.9900, 1.012 | [B]Support[/B] [B]levels[/B]: 0.9800, 0.965[/JUSTIFY] [/QUOTE]
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