Today the EUR/USD shared currency pair is trading in the close vicinity of the 1.1760 level and it seems that it is receiving a lot of strong influence from the release of the IFO survey in Germany.
EUR/USD analysts have recently noticed that the release of the IFO data in Germany has managed to land according to most expectations for this trading session actually most business predictions have been ranging from 109.5 towards 124.2 and this survey has managed to come exactly on the subject for the previous trading month.
EUR/USD traders are now waiting patiently for the European Central Bank conference to end where the quarterly evaluation is going to take place and the conclusions will surely have a strong effect on the overall trading process.
Next on tap there are is the release of the home sales figures as well as the goods orders figures in the United States.
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High = 1.1778
Low = 1.1745
S3 = 1.1669 S2= 1.1697 S1 = 1.1724
R1 = 1.1779 R2 = 1.1809 R3 = 1.1834
For the time being the EUR/USD shared currency pair is going upwards by a positive value of +0.4% and it is trading in the close vicinity of the 1.1766 level thus by breaching the 1.1858 level this will definitely clear the trading path towards the 1.1883 point continuing with the 1.1912 level.
On the other side of the coin there are several solid levels starting with the 1.1725 level followed close up by the 1.1686 point and lastly ending with the 1.1662 point.