Baxia Markets
August 23, 2022

EURUSD - 0.98%

big mover analysis top header -1
The Euro is down 3.69% in the last seven trading days and reached its lowest level in 20 years. Energy prices surging across the Globe weakened the Euro as the energy crisis continues to unfold ahead of winter.

Later today, the Euro Area will release S&P Global Manufacturing and S&P Global Services PMI; the first economic indicator expert consensus is at 49, a contraction of 0.8 from the previous figure; this is likely to continue weakening the EUR. Furthermore, S&P Services PMI is expected to come out at 50.5, a figure 0.7 lower than the previous release.

The US will also release S&P Manufacturing PMI and S&P Services PMI. The Manufacturing PMI analyst consensus is 52, just 0.2 short of the previous number. The Services PMI is expected to increase from 47.3 to 49.2, leaving it inside the contraction area. A result better than expected will benefit the exchange rate for the USD.


TW_Big Mover - Purple AIG (2)
The Bollinger bands are opening up aggressively; volatility will be higher in the short term, and the price is trading below the lower band, indicating that the price is considered relatively low.

The pair trades below the short and long-term moving averages and the trend continue to be downwards; however, the relative strength index is at 32%, and once it reaches 30%, we will likely see a sentiment change.


We love to hear new ideas from traders and want to know what you think! 


If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.


Open Live Account  


Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 


Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

trading conditions, technical analysis, trading indicator, fundamental analysis

Subscribe by Email