Current trend
The pair continues growing amid weakening in the US Dollar.
At the same time, data published by Standard & Poor’s ratings services firm showed that the pace of growth of the eurozone economy could be lower than forecasted 1.8%, and reach only 1.5%. To some extent, this is the result of recent terrorist attacks that substantially decreased tourist trips to the Union, while tourism makes up nearly 10% of the EU GDP.
Support and resistance
Yesterday the pair retested the resistance level at 1.1375 but failed to overcome it again.
The nearest support level is at 1.1244.
The nearest resistance level is at 1.1337.
Trading tips
Short positions can be opened from the level of 1.1300 with the target at 1.1247 and stop-loss at 1.1337.
The pair continues growing amid weakening in the US Dollar.
At the same time, data published by Standard & Poor’s ratings services firm showed that the pace of growth of the eurozone economy could be lower than forecasted 1.8%, and reach only 1.5%. To some extent, this is the result of recent terrorist attacks that substantially decreased tourist trips to the Union, while tourism makes up nearly 10% of the EU GDP.
Support and resistance
Yesterday the pair retested the resistance level at 1.1375 but failed to overcome it again.
The nearest support level is at 1.1244.
The nearest resistance level is at 1.1337.
Trading tips
Short positions can be opened from the level of 1.1300 with the target at 1.1247 and stop-loss at 1.1337.