Today the EUR/USD shared currency pair is trading in the close vicinity of the 1.1900 level but it will soon loosen up the grip on this level and begin trading close to the 1.1870.
EUR/USD analysts now believe that the shared currency pair will be trading for a while in the close vicinity of the 1.1870 level and at a certain point it will have to climb back up again close to the 1.1900 level and it will be receiving strong influence from the US DXY Index which will continue to stay close to the 92.00 level and further interact with the United States money markets.
At the same time the release of the EMU PMI data has landed under most predictions close to the 54.2 value in the previous month and has established a monthly value of -0.3%.
EUR/USD traders are patiently waiting for the FOMC figures to come out into the open and the US Fed has to react to the trading movements.
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High = 1.1920
Low = 1.1870
S3 = 1.1752 S2= 1.1782 S1 = 1.1752
R1 = 1.1930 R2 = 1.1954 R3 = 1.1212
For the time being the EUR/USD shared currency pair is going downwards by a negative value of -0.3% and it will be trading in the proximity of the 1.1898 level therefore by breaching the 1.1912 level this will definitely clear the path towards the 1.1981 level at first followed close up by the 1.2069 level.
On the other side of the coin there are several solid levels starting with the 1.1829 point continuing with the 1.1823 level and lastly ending with the 1.1737 point.