Forex forecasts and market outlooks

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19.08.2019 - 13.08.2019

EUR/USD: general analysis

Yesterday, the EUR/USD pair was corrected to two-week lows around ​​1.1078 (Murrey [3/8]). Comments by the head of the Federal Reserve Bank of St. Louis James Bullard and US President Donald Trump supported USD. Bullard in an interview with Fox Business News noted that the inverted yield curve should remain for a certain period to be taken as a “bearish” signal.

USD/CHF: wave analysis

The pair is in a correction and may grow.

On the 4-hour chart, the third wave of the higher level iii of 3 of (3) develops, within which the first wave (i) of iii formed. Now, an upward correction is developing as the wave (ii) of iii, within which the wave c of (ii) is forming. If the assumption is correct, the pair will grow to the levels of 0.9838–0.9871. In this scenario, critical stop loss level is 0.9705.

AUD/USD: wave analysis

The pair may grow.

On the daily chart, a correction of the higher level develops as the second wave 2 of (5), within which the wave b of 2 formed. Now, the development of the wave c of 2 is beginning, within which the first entry wave of the lower level i of (i) of c and the correction ii of (i) have formed. If the assumption is correct, the pair will grow to the levels of 0.7080–0.7205. In this scenario, critical stop loss level is 0.6674.

GBP/USD: general analysis

The GBP/USD pair has maintained a downward trend and has lost more than 400 points in the last two and a half trading weeks. Having reached the lower border of the channel at the level of 1.2015, the price reversed to corrective growth. Over the past few days, it has already gained about 100 points and is trading near a strong resistance level of 1.2110.

Core Retail Sales. United States, 14:30 (GMT+2)

The index reflects changes in the monthly US retail sales, excluding cars. It is an important indicator of consumer spending, as well as the pace of development of the US economy. The data above the forecast strengthen the USD, and the data below the forecast affect the national currency negatively. It is predicted that the July the index will remain at the same level of 0.4%, and total sales will fall from 0.4% to 0.3%.