Mar. 3, 2021
Euro/Dollar today at a glance – EUR/USD is trading steadily today, ranging between 1.21 and 1.2086 and is now at 1.2093. The United States ADP Nonfarm Employment Change (Feb) is next. (Start trading Euro on FXTM today).
Euro technical analysis picture ahead of data: visual analysis of the Euro/Dollar's price graph shows the Euro/Dollar might start to recover soon because it is getting close and is now only 124 pips from the support line at 1.1969, Obviously, dipping below it could be an indication that further losses are ahead. In terms of trend indicators, we can see that at 1.2106, Euro/Dollar made an initial breakout above the 3 day Simple Moving Average, an indication of a positive trend. On the other hand, note that the upper Bollinger band is at 1.2212, indicating a downward move might be next.
Overall, looking at the technical analysis landscape, it seems the Euro/Dollar might be pointing upward in the short term.
As the market gets ready for data release – SSE is up 1.42%.
Earlier data releases related to Euro/Dollar – Euro Zone's Consumer Price Index published yesterday at 10:00 AM came out at 0.9. The indicator value matched both the projected value and the previous data of 0.9. Germany's Unemployment Change fell short of the -13,000 projection at 9,000 and continued its downward trajectory from the previous figure of -37,000.
Coming up for Euro/Dollar – Euro Zone Retail Sales projected to decline to -1.1 while the previous data was two, Data will be released tomorrow at 10:00 AM. Spain Services PMI is projected to outperform the last figure with 43, while it previously stood at 41.7, figure will be published today at 8:15 AM.
Euro social media highlights: