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September 8, 2020

Euro Zone’s Economic Data May Bring 20+ PIP movement

Euro Employment Change & Revised GDP Q/Q

Euro Zone is going to publish employment change and revised GDP q/q data around 0900 GMT/1430 IST. Majority times, the Euro has released this data with flat numbers. In addition, actual data must be higher than expected one to make euro stronger.

Let’s see how Euro has reacted during the previous data release:

June 09:

March 10:

Technical View:

EUR/USD: The euro trades marginally higher ahead of revised GDP, employment change data. The pair made intraday high at $1.1827 and low at $1.1795 mark. A sustained close above $1.1854 tests key resistances at $1.1936, $1.1975, $1.2022, $1.2047, $1.2082 and $1.2120 mark respectively. On the other side, a sustained close below $1.1787 will target key supports around $1.1737, $1.1695, $1.1654, $1.1590, $1.1540 and $1.1526 marks respectively.

Take a look and do trade wisely!

Good Luck

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