| EUR/USD intraday: under pressure. |
Pivot: 1.2935.
Our Preference: SHORT positions below 1.2935 with 1.2835 & 1.28 in sight. Alternative scenario: The upside penetration of 1.2935 will call for 1.296 & 1.299. Comment: the pair remains on the downside and is approaching its support. |
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EUR – Euro falls on Greek and Spanish concerns
The euro fell Tuesday, pulling away from its recent highs as uncertainty about Spain’s bailout and new concerns about Greece weighed on investors. The EUR/USD and EUR/JPY fell more than 80 pips during yesterday morning’s trading. European Central Bank President Mario Draghi’s reiteration that the ECB’s financial support for the trouble euro zone states was unlimited helped limit the losses.
Today investors will want to watch the French and Italian Industrial Production numbers being released at 6:45 and 8:00 GMT, respectively. These percentages are a leading indicator of the economic health. If these numbers are higher than expected, the euro may make back some of the gains it lost in yesterday’s trading.
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Visit Us www.deryworldscorp.web.id
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