On Thursday, the EURUSD fell intensely as the Euro got weaker against other currencies. The pair traded in a daily range of 109 pips with a high of 1.1299 and a low of 1.1190. It bounced lower from the 61.8% long-term Fibonacci retracement level at 1.1287 on Wednesday. Investors are recommended to monitor President Draghi Speaks due on Friday. Even though I am not expecting any surprised, it’s worth monitoring for further clues about ECB sentiments.
On Friday, the investors are recommended to monitor the following events:
• Current Account (EUR)
• Italian Trade Balance (EUR)
• ECOFIN Meetings (EUR)
• Building Permits
• Housing Starts (USD)

Technical Overview:

EURUSD trades at 1.1230, just above a trend line support level at 1.1190. On Wednesday, the EURUSD support prevails at 1.1050 and at 1.10 with resistance at 1.1280 as well as between 1.1365 and 1.1375. The oscillator indicator RSI is indicating potential selling in the pair.
Previous Analysis Reference:
Recommended trades hits Tp at 1.1100

Daily Trading Range:
1.1190 – 1.1045

Daily Support & Resistance Levels
R3: 1.1232
R2: 1.1198
R1: 1.1167
Pivot Point: 1.1142
S1: 1.1108
S2: 1.1086
S3: 1.1052

Trading Recommendation:

– Sell at 1.1295
o Take Profit:
 1st @ 1. 1180
o Stop Loss 1.1335

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