EURUSD: Follows Through Higher.
EUR/USD is trading just above $1.3600. In the euro area watch for Spanish and Italian Manufacturing PMIs due at 08:15 and 08:45 GMT (higher readings are expected) and in the US for ISM Manufacturing PMI due at 15:00 GMT (forecast 55.2 vs. previous 56.4).
US dollar holds well against Japanese yen and Canadian dollar, but made a dramatic fall versus British pound. Demand for safety of American currency declined before reports that may signal a global manufacturing pickup.
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
EURUSD: With a second week of upside seen, further upside could follow in the new week. However, it will have to take out the 1.3547 level to prevent a return to the 1.3295 level. Further out, resistance resides at the 1.3650 level where a break will aim at the 1.3710 level. Price hesitation may occur here but if violated it will target the 1.3800 level. Conversely, support lies at the 1.3300 level with a break turning focus to the 1.3250 level and possibly lower towards the 1.3200 level. We may see bulls come in here and turn the pair higher but further decline is seen expect a move lower towards the 1.3100 level. All in all, EUR remains biased to the upside in the medium though vulnerable.