empty
 
 
31.08.2021 05:25 AM
Forecast for EUR/USD on August 31, 2021

EUR/USD

The euro spent the whole Monday in consolidation, accumulating strength to overcome the important resistance at 1.1824/47. The euro will be helped by today's economic data from Europe and the United States. The unemployment rate in Germany in August is expected to decrease from 5.7% to 5.6%, the French GDP for the second quarter in the second estimate is expected to be unchanged at 0.9%, the consumer price index of the euro zone for August is expected to grow strongly from 2.2% yoy to 2.7% y/y. In Canada, GDP for June is forecast to grow by 0.7%, and in the US itself, the Chicago manufacturing PMI for August is expected to decline from 73.4 to 68.0 and consumer confidence may decline from 129.1 to 124.0.

This image is no longer relevant

On the daily scale chart, the signal line of the Marlin oscillator lay on the horizon, into consolidation, the price finally broke above the balance indicator line. We are waiting for the price to move up.

This image is no longer relevant

On the H4 chart, the Marlin Oscillator is also consolidating in the positive area, the price is gathering strength above both indicator lines.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback