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Tuesday, July 30, 2019

Forex Signals Brief for July 30: A Busy Data Day in Europe

Markets are waiting patiently for the FOMC this week, but we are still seeing some good volatility.
Yesterday it was the GBP/USD that was busy thanks to more Brexit worries with their new leader Boris Johnson. Today the EUR/USD could be busy as well as we get a number of second-tier data points from across Europe.

In the morning, we’ll have French GDP and consumer spending followed by German consumer climate. Later in the session the one to watch is German CPI, which is expected to be 0.3% for the month of July.
The Euro continues to test the 1.1125 area as the Greenback has been very strong recently. So this will again be the major level of interest today.
Sometimes these busy days of data can slow down the price action so be aware of that during the European open.

Cryptocurrency Update

BTC has continued to ease off in the last 24 hours and so far it looks like the sellers have won the battle of the $10,000 level. 

Price did try to bounce but the sellers again stepped up at $9,600 and we have made a lower high in reality.
This all supports our bearish thesis and I will still be expecting a re-test of $9,000 in the coming days. If price can then take out that lower high, then we can reassess.
For now, the sector is bearish until proven otherwise.
     Posted By
GreenForexClub

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