Today the EUR/USD shared currency pair is trading in the close vicinity of the 1.2020 level in the middle of the Asian trading session.
EUR/USD analysts now believe that the shared currency pair has managed to jump past the 1.2000 level and at the bottom of this stands the release of the FOMC conference updates which has proved that it is going to be a significant event and at the same in the European Union the European Central Bank has settled that the inflation rates should drop.
EUR/USD traders now feel confident that the shared currency pair is going to receive plenty of positive influence from the previous month data releases such as the home sales and the DoE index and report regarding the oil stocks.
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High = 1.2020
Low = 1.1970
S3 = 1.1904 S2= 1.1928 S1 = 1.1963
R1 = 1.2019 R2 = 1.2042 R3 = 1.12076
For the time being the EUR/USD shared currency pair is going upwards by a positive value of +0.16% and it is going to trade close to the 1.2010 level therefore by breaching the 1.2041 level this will clear the trading path towards the 1.2092 level at first followed close up by the 1.2167 point.
On the other side of the coin there are several solid points beginning with the 1.1968 level followed close up by the 1.1864 level and lastly ending with the 1.1837 point.