EUR/USD treads above 1.1900 with PMIs on sight

Discussion in 'Currency Pairs' started by Larry, Dec 1, 2017.

  1. Larry

    Larry Administrator

    The EURUSD stays bid above 1.1900 as buying interest returns to the EUR in the second half of the week. The pair is now trading well above the 1.1900 handle and closing in on Monday’s tops in the 1.1960 area.

    The pair now looks forward to the November manufacturing PMIs in Euroland, which is due but unlikely to make any head ways. While in the US, ISM manufacturing is due along with speeches from FOMC’s P.Harker, J.Bullard and Chief J.Yellen.

    The pair is gaining 0.13% at 1.1919 and a breakout of 1.1961 (high Nov.27) would target 1.2033 (high Sep.20) en route to 1.2069 (high Aug.29). On the other hand, the immediate support aligns at 1.1848 (10-day sma) followed by 1.1810 (low Nov.30) and finally 1.1762 (21-day sma)

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