The EUR/USD pair fixed at 1.10, which was facilitated by the sale of USD. The euro received a small boost and is now bouncing back from previous lows in the range of 1.1020/15 and trading at the top of the weekly range, continuing the recovery. The new sentiment against the dollar against the background of large-scale "oversold" of the pair during the previous sessions contributes to the ongoing recovery. The euro goes above the level of 1.10 dollars. The pair's growth is helped by a return of risk appetite, which is supported by positive headlines from the US-China trade front, improved sentiment on Brexit and some not so "dovish" comments from Christine Lagarde. However, on the other hand, the pair is pressed by the weakness of the industrial sector in Germany, where orders fell sharply in July – by 2.7% compared to the previous month.
However, while the pair is rising from the lows of 2019 amid renewed optimism about the conflict between the US and China and a new trend against the dollar, there is no special reason for joy. The continued upward movement is seen only as a correction, as recent weak reports maintain pressure on the single currency and further reinforce the need for ECB stimulus, which is likely to be presented at a meeting later this month. It is expected that these factors will constrain random bull attack.
