Performance for the Day
The EURUSD pair price broke out of the 1.1615 – 1.1745 range today due to rhetorics from E.U policy makers. The common currency pair price jumped from the 1.1715 area to the 1.1794 area during the European session. The price jump occurred just at the time E.U policy makers commented that they will debate on ending Bond Buys next week. As at the time of this post, EURUSD price is currently hovering at the 1.1763 area.
The main focus of the week remains E.U Gross Domestic Product GDP data and it is due tomorrow. EURUSD may continue in its upward direction after the data release as the E.U GDP data is expected to be unchanged.
A strong break above the 1.1822 level will signal more bullish correction of the pair to the 1.1890 area. A strong break below the 1.1715 area will signal a bearish move of the pair to the 1.1651 and later to the 1.1596 area.
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