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EURUSD Analysis, 15 June 2017

EURUSD Analysis, 15 June 2017

 

The pair rose to its highest level in more than seven months at 1.1295, supported by negative US data, which formed a pressure factor on the US currency, but this changed after raising the US interest by the Federal Reserve by 25 basis points

But then it declined and closed at the end of the day at 1.1215, just 6 points from the opening price of yesterday.

Yesterday, the euro zone industrial production data were released on a monthly basis and came in line with market expectations at 0.5%, while the previous reading was 0.2%

On the other hand, the Change in Employment Rate was positive on a quarterly basis after recording 0.4% higher than expectations of 0.3%, while the previous reading was revised from 0.3% to 0.4%.

Technically

Staying above 1.1200 may make the pair rise towards 1.1245 and if it breaches this level it may continue to rise towards the level of 1.1280 and if it crosses this level it may extend towards the level of 1.1310.

In case of a break of 1.1200, the pair may fall to the level of 1.1160 and if this level is breached, it may continue to decline towards 1.1100.

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