When a top-tier indicator beats expectations and all the revisions are also in the black, the currency reacts. US retail sales beat expectations on all the different headline and core measures in July, whilst June’s numbers were revised higher. The US dollar reacted positively and for the euro, it means a drop under 1.17. The low so far is 1.1693. A key level is 1.1710, the swing high of 2015 that also served as a separator of ranges recently. Further support awaits at 1.1620, which was the high level in 2016 and remains relevant. The break awaits confirmation but the US dollar certainly has momentum. It had already begun the week on a positive tone, very different from the previous week. The data coming out from Europe has been OK, but not exciting. Germany reported a growth rate of 0.6%, a robust figure but below 0.7% expected. It was countered by a minor upwards revision. The euro-zone will release updated GDP numbers tomorrow. Many European countries are on holiday today. The next big event for markets is the FOMC Meeting Minutes released tomorrow. It could determine if the pair extends its drops or recovers. More: Is EUR/USD still overbought? Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next USD longs begin looking good ahead of the Fed minutes Yohay Elam 6 years When a top-tier indicator beats expectations and all the revisions are also in the black, the currency reacts. US retail sales beat expectations on all the different headline and core measures in July, whilst June's numbers were revised higher. The US dollar reacted positively and for the euro, it means a drop under 1.17. The low so far is 1.1693. A key level is 1.1710, the swing high of 2015 that also served as a separator of ranges recently. Further support awaits at 1.1620, which was the high level in 2016 and remains relevant. The break awaits confirmation but the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
