26/08/2020
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The EUR/USD pair trading
around 1.1800 as somehow the positiveness seen at the beginning of the week "faded".
Major pairs spent the first half of the day consolidating in tight ranges, with the greenback grabbing some strength ahead of the release of US Durable Goods Orders. According to the official report, orders were up 11.2% in July, much better than the 4.3% expected. Non-defence Capital Goods Orders ex-Aircraft met expectations at 1.9%. The greenback accelerated its advance afterwards trading now near a daily low at 1.1771.
The EU didn’t release relevant macroeconomic data this Wednesday, while equities fail to provide clues, hovering around their opening levels.
If we are taking advantage of economic indicators results, so we would like to say EUR/USD will fall, but our analysis showing is EUR/USD will renew 2018s high again and again.
We assume that the pair will reach to 1.2600 in the next ten weeks.
