EUR/USD & German Trade Balance: Not an enough catalyst for today's moves
Today at 06:00 GMT will be released the German trade balance’s figures and it seems that we could expect an increase from 19.4B to 20.0B for August. It should be noted that Eurozone has been living a surplus in terms of exports and the data for Germany is still showing some positive numbers, despite the latest two releases, where we saw some numbers below the forecasted. Today’s liquidity should be slow, as economic calendar’s data will be little, because of holidays in North America.
Our technical analysis for EUR/USD at H4 chart is showing a complex structure in the short-term, while the pair remains to trade below the 200 SMA. One could expect a rise to the 1.1227 level, but today’s events shouldn’t be enough catalysts to move the pair across the board. That’s why we can expect very technical moves for the EUR/USD and eventually, it can find dynamic resistance at 200 SMA to resume the bearish bias.