Business & Investment

Analysis of EURUSD and GBPUSD daily charts on August 30, 2021

EURUSD and GBPUSD daily chart views

Looking at the daily timeframe chart, we can see that the EURUSD pair is encountering current resistance with a 50-day moving average of 1.18000. To continue on the bullish side, you need to take a break above to climb to the next level at 1.19000, the location of previous resistance in early August. To continue the bearish downturn integration, we need a set of negative candlesticks on the chart and we will get a signal that the 38.2% Fibonacci level will drop further to 1.16950 in a new test of EURUSD nan.

EURUSD and GBPUSD daily chart views

GBPUSD Chart Analysis

Looking at the daily timeframe chart, GBPUSD is still integrated around 1.37500 today, but the moving average is still above us. The 200-day moving average is very important to us. To test both the 20-day and 50-day moving averages, we can expect the pair to initially rise to 1.38000. After that, the price will continue to fall to 1.36000, perhaps with a new low on 1.35000. .. For a bullish trend, a break beyond this is required above the resistance zone and the upper trend line. This shows that the pair can be expected to rise to the 1.40 million psychological level at the end of June.

EURUSD and GBPUSD daily chart views

Market overview

Inflation in Germany accelerated to its highest level since 2008 in August due to energy prices. Preliminary Destatis data was presented on Monday.

As expected, consumer price inflation rose from 3.8% in July to 3.9% in August.

EU harmony inflation It increased from 3.1% a month ago to 3.4%. The annual HICP rate also met the expectations of economists. The final data for August is scheduled for September 10.

Inflation rate of 3.4% was the highest since 2008.

The consumer price index remained unchanged on a monthly basis and was expected to rise by 0.1%. As economists expected, the HICP rose 0.1% in August.

The results of a survey conducted on Monday show that the economic situation in Switzerland has weakened for the third straight month and remained at a rapid pace in August, indicating that the recovery from the pandemic will continue, albeit at a slow pace. increase.

According to a monthly survey by the KOF Institute of Economic Research, the economic barometer fell from 130.9 in July to 113.5 and was revised from 129.8. Economists predict a score of 125.0.

The readings were well above the long-term average.

“Therefore, the economic recovery from the pandemic outcome is expected to continue in the coming months,” KOF said.

The European Central Bank needs to consider recent improvements in funding in discussions about the future of monthly purchases of pandemic assets, ECB policymaker François Villeroy de Garhow said Monday. rice field.

Bank of France Governor Bill Roy said there was no urgency to determine the future of the emergency purchase program, as the ECB could adjust monthly purchases in the event of a pandemic at the ECB meeting in September. Depending on the funding terms.

Billroy said funding in the euro area has improved since the last ECB meeting in June. He also said that the economies of France and the euro area should return to pre-COVID levels in early 2022 or earlier. At this stage, there is no risk of permanent high inflation.

post Analysis of EURUSD and GBPUSD daily charts on August 30, 2021 First appeared Finance Brokerage..

Analysis of EURUSD and GBPUSD daily charts on August 30, 2021 Analysis of EURUSD and GBPUSD daily charts on August 30, 2021

Back to top button