Tickmill’s Investing Diva, EURUSD Daily Outlook 16-07-20

<p>EURUSD Daily Outlook 16-07-20 – On Wednesday Bank of Canada held rate steady at 0.25%, and said the economy won’t recover to pre-COVID-19 levels until 2022. Reports showed Australia’s unemployment rate has surged to the highest level since 1998 with almost ONE MILLION now officially without work for the first time EVER. Meanwhile, China reported a 3.2% GDP growth in the second quarter, avoiding a recession, and indicating a recovery from the damage caused by the coronavirus pandemic.</p>
<p>Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the <a href="https://www.youtube.com/channel/UCygXlFW43dWBKnNty1s-W_g">Tickmill YouTube channel</a> and support us by liking and sharing this video with your forex trading friends.</p>
<p>On Thursday we’ll be watching the UK employment change, the ECB rate decision and the US retail sales for yet another busy trading day.</p>
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<p>Today I’m looking back at the EUR/USD pair which is pushing hard to break above the key resistance level of 1.1413, a level the pair hasn’t been able to break above since February 2019 despite multiple attempts.</p>
<p>This time around, the bulls appear to be determined… but if they fail, that makes this level even stronger than before and will likely get the bears to push the pair down towards the neckline of a potential double top chart pattern at 1.11.</p>
<p>Will you be shorting the EUR/USD if the current resistance level holds? Head over to the comments section and let me know.</p>
<p><strong>Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.</strong></p>
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<p>The post <a rel="nofollow" href="https://blog.tickmill.com/fund-analysis/tickmills-investing-diva-eurusd-daily-outlook-16-07-20/">Tickmill’s Investing Diva, EURUSD Daily Outlook 16-07-20</a> appeared first on <a rel="nofollow" href="https://blog.tickmill.com">Tickmill</a>.</p>