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EURUSD - 20/09/2021 - The downtrend continues on the back of positive US data, why we always watch out for economic data!
US Retail Sales up by 0.7% rather than the negative 0.8% being predicted.
On top of that the Philadelphia Fed Manufacturing Index jumped to 30.7 in September from 19.4 in August.
Technically the pair looks oversold and we may see a bit of a retrace before travelling further down.
Going forward I’m eying the German elections on the 26th of September with centre-left Olaf Scholz looking in the lead and investors worried about a left leaning coalition.
Economic data to look out for this week:
Monday, German PPI
Do you guys think we’re going to see the EUR drop further?
#financiallyfreetrader
US Retail Sales up by 0.7% rather than the negative 0.8% being predicted.
On top of that the Philadelphia Fed Manufacturing Index jumped to 30.7 in September from 19.4 in August.
Technically the pair looks oversold and we may see a bit of a retrace before travelling further down.
Going forward I’m eying the German elections on the 26th of September with centre-left Olaf Scholz looking in the lead and investors worried about a left leaning coalition.
Economic data to look out for this week:
Monday, German PPI
- Wednesday, EUR Consumer Confidence
- Thurs, PMI
Do you guys think we’re going to see the EUR drop further?
#financiallyfreetrader