Current trend
Today the pair continued growing despite the publication of mixed data in the eurozone. The Producer Price Index for December fell to -0.8% that was substantially worse than forecasts of economists. At the same time, the Unemployment Rate slightly fell as well, from 10.5% to 10.4%. Therefore, continuous decline in prices could force the ECB to expand its stimulation program or cut interest rates further, either of which would significantly pressure the Euro.
Support and resistance
Support levels: 1.0894.
Resistance levels: 1.0943.
Trading tips
Short positions can be opened from the level of 1.0943 with the target at 1.0890 and stop-loss at 1.0955.
Today the pair continued growing despite the publication of mixed data in the eurozone. The Producer Price Index for December fell to -0.8% that was substantially worse than forecasts of economists. At the same time, the Unemployment Rate slightly fell as well, from 10.5% to 10.4%. Therefore, continuous decline in prices could force the ECB to expand its stimulation program or cut interest rates further, either of which would significantly pressure the Euro.
Support and resistance
Support levels: 1.0894.
Resistance levels: 1.0943.
Trading tips
Short positions can be opened from the level of 1.0943 with the target at 1.0890 and stop-loss at 1.0955.