Morning Insights 23rd July

Simon Alagbe

Analyst


Instrument: EURUSD

The greenback edged higher in the session yesterday after the dovish statement of the ECB weighed on the common currency. The common currency recovered some lost ground earlier today after data from Markit showed better than expected PMI data for Germany.

Technicals: 

The presence of a bullish engulfing candle on the hourly timeframe favours the bulls on the pair with a target at 1.18144 and stop-loss at 1.17465. 


Fundamentals 

Flash Manufacturing PMI (EUR)  9:00 AM

Flash Services PMI (EUR)  9:00 AM

Flash Manufacturing PMI (US) 2:45 PM

Flash Services PMI (US) 2:45 PM


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