EUR/USD seems to be stabilizing
Investing.com – The EUR/USD pair seems to be stabilizing in the short term, in the context of a background trend remains negative, however, as you begin the last session of forex trading of the week.
Yesterday, several information little reassuring had pushed the Euro down, with, in particular, German industrial output is very disappointing, and especially with the lowering of growth forecasts by the European Commission.
In addition, the ECB had held about dovish in its monthly economic bulletin, without, however, bring new information compared to the last meeting of the ECB.
Today, the economic calendar will not contain, however, any event that may influence trade on the EUR/USD, which could allow the consolidation that seems to be put in place now to continue.
From a graphical point of view, a break below the low of yesterday at 1.1325 would trigger the decline towards the next support at 1.13, 1.1270, 1.1250 and 1.1215.
Has the increase, there is a line of downward trend is visible from the summit of 31 January, and is now at 1.1360 about. Beyond that, there is the moving average 100 hours at 1.1391, and then the psychological threshold of 1.14, the achievement of which would begin to question the bearish trend.
To sum up, the consolidation seems at this stage the most likely scenario on EUR/USD for Friday, and 1.1325 and 1.1360 are the first terminals to be monitored in case of increase of the volatility.
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