Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/USD trades higher on declining Italy -German yield spread, markets eye ECB policy

EUR/USD has once again taken support near 1.1300 level and shown a minor recovery on US-China trade deal hopes and easing Italy budget deficit problem. The spread between Italy and German yield declined to 20 basis point from 330 on account progress in Italy and European Commission. Markets eye ECB monetary policy meeting to be held today for further direction. ECB is expected to quit the QE program by this year end and also to publish new growth and inflation forecasts. Any hawkish policy by Draghi will make the Euro to trade higher and will reach 1.1500 level. It is currently trading around 1.13790.

 

On the higher side, near term resistance is around 1.1400 level and any violation above targets 1.1400/1.1450. The pair should break above 1.1500 for further direction.

 

The near term support is around 1.1300 and any break below targets 1.12600/1.12180. Any violation below 1.1200 confirms bearish continuation.

 

It is good to buy on dips around 1.1320-25 with SL around 1.1270 for the TP of 1.1500.

 

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

March 26 21:00 UTC Released

KRConsumer Sentiment Ind

Actual

99.8 Bln USD

Forecast

Previous

99.5 Bln USD

March 26 19:00 UTC Released

ARTrade Balance

Actual

460 %

Forecast

Previous

372 %

January 31 00:00 UTC 604702604702m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 604702604702m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 616522616522m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 604702604702m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 616522616522m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 604702604702m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 604702604702m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 604702604702m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.