EUR Fundamental Analysis
EUR's current outlook score of 47 shows that the long-term outlook is bearish, which means that traders with a long-term trading timeline will be looking to short EUR on rally.
The latest 10 economic indicators released out of Euro Zone have added 0 to the total Fundamental Outlook score of EUR. This represents a low rate of growth in recent months. More specifically, the most recent economic release with the greatest impact for EUR was the , which took place on October 28, 2020 at 4:53am GMT. The Deviation for the is and the Forecast at the time was . The actual figure came in at , which was a positive surprise for EUR.
Although the current score for EUR is 47, please understand that this merely reflects the long-term view based on official economic data out of Euro Zone. This outlook score does not account for market sentiment, namely risk appetite or risk aversion, order flows, or any breaking news that has the potential of changing the short-term market trend.
Fundamental Outlook Score is meant to be used as a direction confirmation tool, the idea behind this indicator is the sum of the effects of market sentiments into an easy to understand format. The proper use of this tool is to pre-qualify your trade. In the case of EUR, which has a low score, your bias would be to sell it against currencies with a strong outlook score. This DOES NOT MEAN you should trade in the direction of the score blindly, but use it to filter out other trading signals that may tell you to go in the opposite direction... I believe ultimately the market will follow the fundamentals, and that's the key to Fundamental Outlook Score. Click here for more information and detailed explanation on Fundamental Forex Outlook.
Recent Economic Indicators And Impact Score For Euro Zone
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|OPEC, Saudi Arabia ‘no longer in control’ of oil prices|