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July 24, 2020

Euro Zone Services and Manufacturing PMI Data

Euro Zone Services PMI and Manufacturing PMI

Today Euro Zone is going to publish manufacturing as well as services PMI data from France, Germany and Euro Zone itself. Markets expect positive reading from all the upcoming data from the Euro Zone. Euro has already strengthens against U.S. dollar and hits highest level since Sept 2018 to $1.1626 mark. Now the upcoming data will give further directions to the parity.
Let’s see how Euro has reacted during this data release:

June 23: Positive data from France, Germany and Euro Zone itself

May 21: Positive data except German manufacturing PMI

Technical View:

EUR/USD: The euro rises visibly and touches $1.1621 mark against U.S. dollar. The pair made intraday high at $1.1621 and low at $1.1591 mark. A sustained close above $1.1595 tests key resistances at $1.1626, $1.1657, $1.1698 and $1.1720 mark respectively. On the other side, a sustained close below $1.1595 will target key supports around $1.1540, $1.1526, $1.1470, $1.1425, $1.1370, $1.1343, $1.1272 and $1.1240 marks respectively.

Take a look and do trade wisely!

Good Luck

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