$EURUSD Forex Signal: Room for More Downside Before EU Data EURUSD Forex Signals FREE
Enter your emailThe pair will likely continue falling as sellers target the first support of the standard pivot point at 1.0130. Timeline: 1-2 days.EUR/USD priceIt dropped to a low of 1.0178, which was the lowest level since Thursday last week. The pair has dropped by more than 1.20% from its highest point this week.The EUR/USD pair continued dropping as tensions between the US and China continued following Nancy Pelosi’s visit to Taiwan.
The EUR/USD price also retreated after the relatively weak US job openings data. According to the labor department, the number of job openings in the US stood at 10.7 million on June 30th. This was a sharp decline from the 11.3 million it recorded at the end of May. The next key catalyst for the pair will be the upcoming European retail sales data. Economists expect the bloc’s retail sales dropped from 0.2% in May to -1.7% in June as inflation rose. Retail sales are an important part of the economy since consumer spending is the biggest part.
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