EURUSD - BEARISH BIAS (19 JULY 2021)
EURO - Bearish
1️⃣ President Christine Lagarde of the European Central Bank said the July 22 meeting will include new forward guidance and ruled out an early withdrawal from the ECB's bond-buying program.
2️⃣ Concerns about the Delta variant's spread have grown as the summer holiday season approaches.
3️⃣ Eurozone industrial production fell 1% in May 2021.
4️⃣ The ECB is expected to keep its interest rates unchanged and continue its bond -buying program at the same rate.
USD - Bullish
1️⃣ The US dollar surged amid traders continued to look for safety amid rising COVID-19 cases.
2️⃣ In July, New York’s Empire State Manufacturing index rose sharply to 43.0, hitting a record high and far exceeding market expectations.
3️⃣ U.S. retail sales jumped 0.6% in June, beating market expectations for a 0.4% fall.
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TECHNICAL
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- Intraday setup on H1 chart.
- We're shorting this pair on support breakout.
- Confirmation with bearish Heikin Ashi
- Below SMA50.
TRADE AT YOUR OWN RISK!!
1️⃣ President Christine Lagarde of the European Central Bank said the July 22 meeting will include new forward guidance and ruled out an early withdrawal from the ECB's bond-buying program.
2️⃣ Concerns about the Delta variant's spread have grown as the summer holiday season approaches.
3️⃣ Eurozone industrial production fell 1% in May 2021.
4️⃣ The ECB is expected to keep its interest rates unchanged and continue its bond -buying program at the same rate.
USD - Bullish
1️⃣ The US dollar surged amid traders continued to look for safety amid rising COVID-19 cases.
2️⃣ In July, New York’s Empire State Manufacturing index rose sharply to 43.0, hitting a record high and far exceeding market expectations.
3️⃣ U.S. retail sales jumped 0.6% in June, beating market expectations for a 0.4% fall.
=====
TECHNICAL
=====
- Intraday setup on H1 chart.
- We're shorting this pair on support breakout.
- Confirmation with bearish Heikin Ashi
- Below SMA50.
TRADE AT YOUR OWN RISK!!
Trade active
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.