The Euro (EUR) has made a small decline against the US Dollar (USD) today, in the wake of data confirming that German inflation rates slowed during June.
The finalised figures have shown that base annual inflation slowed from 2.2% to 2.1%, while the monthly inflation rate fell further with a shift from 0.5% to 0.1%.
These outcomes were largely forecast by currency traders beforehand, but the confirmation has still lowered confidence and worsened the EUR/USD exchange rate.
Because Germany has such a large economy, slowing inflation here could mean that the overall Eurozone inflation rate declines.
This would reduce the likelihood of a near-term interest rate hike from the European Central Bank (ECB), especially if inflation fell below the 2% target range.
US Dollar to Euro (USD/EUR) Exchange Rate Rises as Trump Blasts NATO Spending
The US Dollar (USD) has made tentative gains against the Euro (EUR) today, although elsewhere the US currency has traded tightly against other peers.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 1.18.
The projected lower bound is: 1.15.
The projected closing price is: 1.17.
During the past 10 bars, there have been 4 white candles and 5 black candles for a net of 1 black candles. During the past 50 bars, there have been 23 white candles and 26 black candles for a net of 3 black candles.
A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 16.5498. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 3 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 47.66. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 32 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 3. This is not a topping or bottoming area. The last signal was a sell 2 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 14 period(s) ago.
Rex Takasugi – TD Profile
FOREX EUR= closed down -0.000 at 1.167. Volume was 100% below average (consolidating) and Bollinger Bands were 34% narrower than normal.
Open High Low Close Volume___
1.167 1.167 1.167 1.167 485
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.17 1.17 1.20
Volatility: 6 9 9
Volume: 141,520 149,184 127,893
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.
FOREX EUR= is currently 2.6% below its 200-period moving average and is in an upward 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 bullish on EUR= and have had this outlook for the last 10 periods.
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