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16.07.201915:42 Forex Analysis & Reviews: EUR/USD for July 16,2019 - Down move is about to end for today

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The EURUSD has been trading downwards in the Asia and Europe session and there are high odds that EUR may rally on the US session. EUR did stop going down exactly at the support 1.1214. I expect upside during the rest of the day and potential testing of resistance levels at 1.1240 and 1.1254.

The numbers: Sales at U.S. retailers rose solidly in June for the fourth month in a row, pointing to a strong rebound in consumer spending in the second quarter that suggests the economy is not as fragile as the Federal Reserve apparently believes.

On the 30M time-frame I found that there is a bullish divergence on the %Bollinger indicator, which is indication that even the EUR went lower the Bollinger % oscillator didn't fallow. This is for me strong sign that down move for today is about to end on the EUR. My advice is to watch for buying opportunities with the upward targets at the price of 1.1240 and 1.1254. As long as the EUR is trading above the 1.1195, you should watch for buying opportunities.

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