Overall, EUR/USD is trending upwards. Recently, EUR/USD trended higher, breaking above the key level of 1.12.
The eurozone unemployment rate (Actual: 7.3%, Forecast: 8.2%, Previous: 7.1% revised from 7.4%) data released yesterday indicated a slight increase in the number of persons unemployed.
The European Central Bank will be announcing their interest rates decision later at 1945 (SGT). It is expected that the ECB will be holding interest rate unchanged at 0.00%. With the persisting poor eurozone economic indicators, it is likely that the central bank will further increase its asset purchase programme to support the eurozone economy. Look into the rate statement for any new measures carried out. Also, look for any changes in the eurozone’s inflation and GDP projections by the ECB.
EUR/USD’s next support zone is at 1.11200 and the next resistance zone of 1.13300.
Look for short-term buying opportunities of EUR/USD up until the ECB monetary policy meeting.
The eurozone unemployment rate (Actual: 7.3%, Forecast: 8.2%, Previous: 7.1% revised from 7.4%) data released yesterday indicated a slight increase in the number of persons unemployed.
The European Central Bank will be announcing their interest rates decision later at 1945 (SGT). It is expected that the ECB will be holding interest rate unchanged at 0.00%. With the persisting poor eurozone economic indicators, it is likely that the central bank will further increase its asset purchase programme to support the eurozone economy. Look into the rate statement for any new measures carried out. Also, look for any changes in the eurozone’s inflation and GDP projections by the ECB.
EUR/USD’s next support zone is at 1.11200 and the next resistance zone of 1.13300.
Look for short-term buying opportunities of EUR/USD up until the ECB monetary policy meeting.