How to trade Euro today?; May 31, 2021
How to trade Euro today?
Today’s Euro Calendar is light as German’s Prelim CPI data are tentative as can release any time during a day and Italy’s Prelim CPI data will release around 0900 GMT/1430 IST. Later during European time, German Buba VP Buch is scheduled to speak at 1100 GMT/1630 IST. Any hint on economic forecasts may bring volatility to the Euro parity.
European Indicators released till now:
The euro enjoys roller coaster movement on Monday and consolidating around $1.2190 mark. The pair made intraday high at $1.2204 and low at $1.2183 mark. Today triple EMA on a day chart is up but H1 chart suggests down trend for the time being. A consistent close above $1.2205 on H1 chart requires for the upside rally. Alternatively, a sustained close below $1.2176 on H1 chart will check further supports.
Key Resistances: $1.2205, $1.2228, $1.2262, $1.2290, $1.2327
Key Supports: $1.2176, $1.2150, $1.2132, $1.2100, $1.2078
Take a look and do trade wisely!