Eurozone investors are showing negative sentiment in August. This is confirmed by the recent report published by Sentix. The experts assume that the Eurozone economy is actually capable of surviving global economic recession as well as the uncertainty triggered by Greece’s debt problems.
The indicator has decreased down to 18,4 points this month. For the sake of comparison, the indicator showed 18,5 points in July. The August figures also failed to come up to analyst expectations – an increase up to 20,2 points.
Well, despite the fact that the index of Eurozone economic sentiment by Sentix is down, the experts assume that the Eurozone’s economic health is totally fine, especially as the Eurozone managed to come off clear amid the Greek crisis and global economic slowdown.
At the same time, despite the fact that the overall index decreased, the sub-index reflecting the current conditions increased all the way up to 15,3 points – the highest value since summer 2011.
FOREX
In the meantime, Masterforex-V Academy reports that EURUSD keeps on consolidating after another bearish momentum within the scope of a-long term downtrend. In particular, the currency pair has completed a major bearish wave – A/B of level H12. At this point, the price is advancing within the scope of wave A/B of level H4.
On breaking above the local highs of 1.1113/29, the currency pair will show the start of wave A/B of level Daily. If that’s the case, the following Fibo levels are going to serve as major levels of resistance - 1.1167, 1.1205, 1.1252, 1.1288 + pivot 1.1215.
On the other hand, a break below the 1.0846 low will give way to wave а(С)/С of level Daily2. In this case, 1.0808, 1.0745/34 will act as support levels.
