EURUSD HEFFX Expects Parity in 2017
Official figures show that economic growth across the 19-country eurozone halved in the second quarter of the year, a development that is probably more likely due to the fading boost from a lower oil prices and weaker euro than to concerns in the run-up to the British vote on whether to leave the European Union.
closed up 0.010 at 1.117. Volume was 1% below average (neutral) and Bollinger Bands were 43% narrower than normal.
Open High Low Close Volume___
1.107 1.120 1.107 1.117 77,855
EURUSD Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.10 1.12 1.11
Volatility: 8 12 11
Volume: 72,627 82,740 69,302
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
EURUSD is currently 0.9% above its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of EUR= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on EUR= and have had this outlook for the last 24 periods.
Eurostat, the EU’s statistics agency, said growth across the single currency bloc moderated to a quarterly rate of 0.3 percent from the previous quarter’s 0.6 percent. The decrease was in line with market expectations.
Separately, Eurostat said consumer prices across the region climbed to 0.2 percent in the year to July from the previous month’s 0.1 percent and that the eurozone unemployment in June was unchanged at 10.1 percent.
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