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German IFO expectations for August

German IFO expectations for August

Information is not investment advice

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Ichimoku Kinko Hyo

GBP/JPY: The GBP/JPY pair is trading slightly below the Tenkan Sen level. A higher thrust of the market will lead the exchange rate above this level, confirming the bullish outlook.

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European Market View

German IFO expectations for August are about to edge slightly higher. The details of the plunge in German GDP for the second quarter will be released.

The United States consumer confidence will indicate the extent to which consumers have been affected by uncertainty about the new fiscal package and the still high coronavirus cases.

European Key Point

  • German IFO expectations for August.
  • The United States consumer confidence.

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Gold price formed a bearish harmonic ‘Butterfly’ pattern. Still, the detour to $1760 may be the decline it forecasts. In addition, even the pattern allows expecting the increase up to $1780.

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