Today the EUR/USD shared currency pair is trading in the proximity of the 1.1890 level.
EUR/USD analysts now believe that the shared currency pair will be trading in the close vicinity of the 1.1880 level for a while and it will be kept in this spot for a while mostly because of the recent data coming in from Germany which has posted the IFO figures and to a certain extent are rather disappointing just as the trading week began.
Still on top of the headlines the German elections have concluded with the success of Angela Merkel and her political party.
In the meantime the in the European Union the ECB is focusing on Mr. Draghi’s speech on the economic movement at the same time across the ocean all traders are keeping a close eye on the US data releases as well as on the evolution of the Fed conference and it policy updates.
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High = 1.1910
Low = 1.1850
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 trading downwards by a negative value of -0.55% and it is trading in the close vicinity of the 1.1885 level therefore by breaching the 1.1862 level this will clear the trading path towards the 1.1837 point at first followed close up by the 1.1793 point.
On the other side of the medal there are several strong points beginning with the 1.2006 level continuing with the 1.2033 point and lastly ending with the 1.2069 point.