German Trade Balance below expectations

Blue avatar for FOREX.com guest contributors
By :  ,  Financial Analyst

German Trade Balance below expectations

The German Federal Statistical Office has posted August trade balance at 12.8 billion euros surplus, below 16 billion euros surplus expected. Yesterday, Germany's industrial production declined 0.2% on month in August, well below +1.5% expected.

From a technical point of view, on a daily chart, EUR/USD stands below a former rising trend line and stands below its 50-period moving average (in blue). Readers may therefore consider the potential for a new weakness below horizontal resistance at 1.1850. The nearest threshold would be set at September bottom at 1.1610 and a second one would be set at previous overlap at 1.1500.

Source: TradingView, GAIN Capital


Related tags: EUR Forex Forex

Open an account today

Experience award-winning platforms with fast and secure execution.

Web Trader platform

Our sophisticated web-based platform is packed with features.
Economic Calendar