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SpanishEuro depreciates ahead of German ZEW Economic Sentiment Data, 25+ PIP Volatility Likely in Euro Parity; June 08, 2021
Euro German ZEW Economic Sentiment
Today Euro will publish German ZEW Economic Sentiment Data at 0900 GMT/1430 IST. It’s a leading indicator of economic health – investors and analysts are highly informed by virtue of their job, and changes in their sentiment can be an early signal of future economic activity. This data is derived via a survey of about 300 German institutional investors and analysts which asks respondents to rate the relative 6 – month economic outlook for Germany.
Let’s see how Euro has reacted during the previous data release:
May 11:
April 13:
Technical View:
EUR/USD:
- The Euro starts a new day on a lower note and stabilizes below $1.22 mark.
- The pair made intraday high at $1.2194 and low at $1.2176 mark.
- A day and H1 chart suggest Bullish Trend for the time being.
- A consistent close above $1.2199 on H1 chart requires for the upside rally.
- Alternatively, a sustained close below $1.2150 on H1 chart will check further supports.
| RESISTANCES | SUPPORTS |
| $1.2199 | $1.2150 |
| $1.2222 | $1.2122 |
| $1.2248 | $1.2080 |
| $1.2272 | $1.2062 |
| $1.2304 | $1.2037 |
Take a look and do trade wisely!
Good Luck
TP Global FX Research Team
With a decade of Forex Market insight, TP Global FX Research Team delivers you the Market Insight that boosts your Trading Skills