Filed Under:
Forex pairs in this Article » EUR/USD (Chicago) - EUR/USD continues trading sideways after retracing from 1.3198 highs reached during the Asian trading session. No activity was recorded in the US as the markets were closed due to Labor Day.

Positive data in Europe

Earlier in Europe, the Markit Manufacturing PMIs were made public. In Spain, the results were 51.1 vs. previous 49.8 and expectations at 50.1. In Italy, results were 51.3 vs. prior 50.4 and estimates at 50.8. In France, the results matched expectations and past results at 49.7 while in Germany the results were 51.8 vs. past 50.7 and projected 52.0. In Greece, the results were 48.7 vs. past 47.0 while the Euro-zone printed a 51.4 vs. past 50.3 and estimates at 51.3. Ahead of producer price indexes due in the old continent and manufacturing US data, market participants remain alert about the US Congress decision to strike Syria militarily.

EUR/USD Technical Levels

Technically speaking, the pair trades at 1.3189 between supports at 1.3171 (August 5th lows), 1.3146 (July 17th highs) ahead of 1.3123 (July 20th highs) and resistances at 1.3189 (July 31st lows), 1.3210 (August 17th lows) followed by 1.3232 (August 11th lows). According to the trend index, the pair is slightly bearish on one-hour timeframe analysis and trades below the EMA20 still around 30-day lows.
comments powered by Disqus