Today the EUR/USD shared currency pair has given up the 1.2060 level and has retreated towards the 1.2000 level where it seems that it is setting up camp.
EUR/USD analysts now believe that the shared currency pair is going to trade for a while close to the 1.2060 level in the upcoming trading session and it will definitely receive some influence from the releases of the European Central Bank decisions to modify the monetary values and it will also be highly influenced by Draghi’s speech on the evolution of the inflation data.
EUR/USD traders now believe that Mario Draghi has manage to let down some trading participants thus lowering some expectations of a stronger movement of the trading cross nonetheless everyone will keep a close eye on the inflation levels in the European Union.
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High = 1.2080
Low = 1.1940
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 upwards by a huge positive value of +0.86% and it is trading in the close vicinity of the 1.2017 level therefore by breaching the 1.2059 level this will clear the trading path towards the 1.2069 level followed close up by the 1.2167 point.
On the other side of the coin there are several solid levels starting with the 1.1924 point continuing with the 1.1848 level and lastly ending with the 1.1823 point.