Today the EUR/USD shared currency pair is trading in the proximity of the 1.0885 level and it is having difficulties in holding this spot therefore the most comfortable area for this is the 1.0850 level.
Analysts have managed to conclude that for the EUR/USD shared currency pair is receiving a powerful influence from the E.M.U. inflation enhancement data which has managed to score at an all times low nonetheless the European Central Bank is preparing a package of policies waiting to be unveiled next week.
Traders have foreseen that the I.S.M. data in the United States will land somewhere close to the 48.3 level for the previous month.
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High = 1.0895
Low = 1.0836
S3 = 1.0764 S2= 1.0791 S1 = 1.0818
R1 = 1.0923 R2 = 1.0948 R3 = 1.0977
For the time being the EUR/USD shared currency pair is going upwards by a rather small value of +0.3% and it is trading in the close vicinity of the 1.0874 level therefore only by breaching the 1.0809 point this will open the path towards the 1.0777 level at first followed close up by the 1.0709 point.
On the other side of the coin there are many strong points beginning with the 1.0970 point beginning with the 1.1047 level and ending with the 1.1123 point.