EUR/USD, tough position for the euro!
I wrote in my EUR/USD analysis from Friday that the support 1.0910/40 will stop the fall and it did, from where the pair bounced up and close the day and week at 1.0939. But, despite the bullish beginning of the new week in which the euro reached daily MA100 and high of 1.0962, previous support trend lines are now the resistances. This is a tough position for the euro buyers, in which the sellers are in better position, despite support at 1.0910, which still hold on the way down. If that support will be broken, next target for the sellers could be 1.0800 > 1.0700!? I wrote in my comments in the last EUR/USD analysis that daily MA100 will be the problem on the way up in this week and it was, with trend lines beside as a ‘hellpers’ for the bears. EMU Conusmer Price Index is coming up in about 10 minutes, we could see more move here.
10:00 h (GMT) – EMU Consumer Price Index (YoY) Feb. > Previous 0,3%, Expectation 0,0%, Update -0,2%!!!
10:00 h (GMT) – EMU Consumer Price Index – Core (YoY) Feb. > Previous 1,0%, Expectation 0,9%, Update 0,7%!!!