EUR News

EURUSD rebounded from 1.1728 after touching the bottom support trend line of the price channel on its 4-hour chart, indicating that the pair remains in the bullish movement from 1.1312. Key support is now at 1.1728, as long as this level holds, the bullish move could be expected to continue and next target would be at 1.2000 area. On the downside, a breakdown below 1.1728 support will indicate that the bullish movement had completed at 1.1909 already, then the pair will find support at bottom of the price channel on its daily chart.

German economy is likely to continue its strong growth momentum in the coming quarters of this year on the back of robust industrial production, Jack Allen, an economist at Capital Economics, said.

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EURUSD stays in a falling price channel on its 4-hour chart and remains in the downtrend from 1.1909. As long as the price is in the channel, the downside movement could be expected to continue and next target would be at the bottom support trend line of the price channel on its daily chart. On the upside, a clear break above the channel resistance could take price to test 1.1909 resistance, above this level could signal resumption of the uptrend from 1.0569 (Apr 10 low), then next target would be at 1.2000 area.

Belgium's consumer confidence remained unchanged at a record high in August as households' expectations regarding the economy and the unemployment situation continued to improve, survey data from the National Bank of Belgium showed Monday.

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EURUSD broke above the top trend line of the price channel on its 4-hour chart, suggesting that the downside movement from 1.1909 had completed at 1.1662 already. Further rise to test 1.1909 resistance is possible, a break out of this level could signal resumption of the uptrend from 1.0569 (Apr 10 low), then next target would be at 1.2000 area. On the downside, as long as 1.1909 resistance holds, one more fall towards the bottom support trend line of the price channel on its daily chart is still possible.

Monetary and regulatory policy actions and steps in supervision undertaken over the last decade have made the world more resilient, however, central banks must continue preparing for new challenges, European Central Bank President Mario Draghi said Wednesday.

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The German economy expanded as initially estimated in the second quarter, detailed report from Destatis showed Friday.

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France's consumer spending increased in July after falling in the prior month, figures from the statistical office INSEE showed Tuesday.

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France's economic growth held steady in the second quarter as initially estimated, latest figures from the statistical office Insee showed Tuesday.

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Eurozone economic confidence reached its highest level in more than a decade in August, signaling above-potential growth in the bloc as the credit rating agency Moody's projected in its latest report. The euro area as a whole is expected to grow around 0.3 percentage points faster in 2017 and 2018, Moody's Investors Service said Wednesday.

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