KEY GRAPHIC ELEMENTS
Forex traders remain optimistic about the euro as Christine Lagarde is due to speak this afternoon and the European Central Bank is expected to leave its interest rates unchanged at its meeting on Thursday. PMI data is still below 50, indicating a contraction in activity still underway in the euro zone. Investors are regaining confidence as 10-year rates ease after new annual highs. PMI statistics this afternoon in the United States at 3:45 p.m. could change the balance. Technically operators must always wait for a return towards 1.04 to initiate long positions and become cautious when approaching the resistance zone of 1.07-1.08.
MEDIUM TERM FORECAST
Considering the key graphical factors that we have mentioned, our opinion is neutral in the medium term on the Euro Dollar (EURUSD).
We will maintain this neutral opinion as long as Euro Dollar (EURUSD) prices are positioned between support at 1.0550 USD and resistance at 1.0693 USD.
News Bulletin 247 advice
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