Today the EUR/USD shared currency pair is trading in the close vicinity of the 1.1020 level but unfortunately it is not showing any serious signs of moving upwards nor downwards
Analysts believe that the EUR/USD “fiber” currency pair is waiting since the beginning of the trading week for the release of the German CPI data therefore in anticipation to this economical event the trading cross jumped upwards in the proximity of the 1.1070 trading point and it is already showing signs of moving upwards near the 1.1000 level. At the same time there is a lot of risk sentiment brewing.
Traders have officially declared that the EUR/USD trading community is very unsatisfied with the latest E.M.U. data which has missed all major predictions. Once again everyone hopes that Germany will save the day.
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High = 1.1068
Low = 1.1006
S3 = 1.0952 S2= 1.0979 S1 = 1.1008
R1 = 1.1071 R2 = 1.1099 R3 = 1.1126
For the time being the EUR/USD shared currency pair is going upwards by a small yet positive value of+0.2% and is it trading in the proximity of the 1.1019 level therefore only by breaching the 1.0974 level this will clear the path towards the 1.0955 trading point and ending with the 1.0867 trading point.
On the other side of the medal there are several strong points beginning with the 1.1120 level continuing with the 1.1220 level followed close up by the desired level of 1.1379.