The EUR/USD shared currency pair is now trading in the close vicinity of the 1.3850 level this event became reality right after the early release of the E.M.U figure escape.
EUR/USD is losing steam
The EUR/USD shared currency pair is now bouncing on the E.M.U. Capital Supply which started to inflate the wrong way coming in under most predictions which were close to the positive value of +1.2% for the previous month compared with the estimated positive value of +1.4% for this current month. Other news indicate that the recent release of the C.C. data also known as the Consumer Confidence in Germany quickly generated a prediction of 8.5 value on a monthly basis following the next month. Many analysts believe that all the inflation levels will start to gather a lot of steam and with this a lot of pressure is more than probable to build up in the economic calendar for the European Union, hopefully the European Central Bank will keep a strong arm on the already promised policy-approval strategy.
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Low = 1.3850
S3 = 1.3764 S2 = 1. 3799 S1 = 1.3833
R1 = 1.3898 R2 = 1.3934 R3 = 1.3969
For the time being the EUR/USD shared currency pair is up by a small yet positive value of +0.05% in the close proximity of the 1.3858 level showing its first resistance points close to the 1.3880 level followed close up by the 1.3906 point and ending with the desired 1.3925 level.
On the other side of the coin there are several strong support levels therefore by breaching the 1.3832 trading gate this will clear the path towards the 1.3824 at first followed close by the 1.3815 level.