Analyst
Intraday: Bullish
Preference: Buy position is envisaged if price trades above 1.12782 with take profit at 1.13274
Alternative scenario: Sell position is envisaged if price trades below 1.12546 with take profit at 1.12156.
French Flash Services PMI (EUR) 8:15 am
German Flash Manufacturing PMI (EUR) 8:30 am
German Flash Services PMI (EUR) 8:30 am
Flash Manufacturing PMI (USD) 2:45 PM
Comment: The candle formation on the daily chart favours a move to the upside on the pair today as we await the release of PMI data from the two-zone.
Intraday: Bullish
Preference: Buy position is envisaged if price trades above 120.533 with take profit at 121.155
Alternative scenario: Sell position is envisaged if price trades below 120.464 with take profit at 119.133.
French Flash Services PMI (EUR) 8:15 am
German Flash Manufacturing PMI (EUR) 8:30 am
German Flash Services PMI (EUR) 8:30 am
Comment: The pair ended a four-day bearish streak as it closes higher in yesterday's session. Flash Manufacturing PMI released from japan earlier today fell short of expectations while BOJ Core CPI y/y was slightly better than forecast. A bullish close is envisaged on the pair today owing to the expected recovery of the common currencies.
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