100-Day SMA blocks bullish reversal

The EUR/USD pair registers gains of over 0.32% on Friday as traders face key resistance at the 100-day Simple Moving Average (SMA) at 1.1567, as bulls eye the 1.1600 psychological figure. At the time of writing, the pair trades at 1.1564 after bouncing off daily lows of 1.1526. EUR/USD Price Forecast: Technical Outlook The EUR/USD market structure suggests that…

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US July retail sales -0.6% vs +0.1% expected

Prior was +0.2% Ex autos -0.3% vs +0.2% exp Ex gas and autos -0.2% vs +0.4% prior Retail control -0.4% vs +0.3% exp Retail sales y/y nominal 5.01% vs +6.72% prior The thinking is that the US consumer will continue spend so long as the jobs market holds up but this report dents that view. I’d caution that it’s…

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