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EUR/USD Analysis, Expectations Rise at 1.3620 – 1.3640 for June, 23 2014

June 23, 2014 9:25 am

Dear Traders EUR/USD currency pair on Friday not have any important fundamental event, overall this currency pair move as per our technical analysis base and open at 1.3607 and move downward at support level 1.3564, H1 candle fully bearish pattern and close at 1.3589 upward. Just German PPI (MoM) and German PPI (YoY) event negative, due to these two event EUR little weak.

Today Technical Overview:

Today EUR/USD currency pair have little bullish pattern because currently rate above at weekly and daily pivot and H4 candle have bullish trend and may be this currency pair first break 1.3620 and then 1.3640, remember if not move down 1.3590 in case this currency pair break 1.3590 then confirm reach at support level 1.3560.

Fundamental Overview:

The following fundamental event of EUR zone and expectations that high importance event German Manufacturing PMI have positive forecast as per survey so may be EUR strong at the time of event announcement.

 

Time Currency Importance Fundamental Event   Forecast Previous
12:00-PM  EUR  Medium French Services PMI 49.4 49.1
12:00-PM  EUR  Medium French Services PMI 49.4 49.1
12:30-PM  EUR  High German Manufacturing PMI   52.5 52.3
12:30-PM  EUR  Medium German Services PMI 55.7 56.0
13:00-PM  EUR  Medium Manufacturing PMI 52.2 52.2
13:00-PM  EUR  Medium Services PMI 53.3 53.2

 

U.S session have high importance event Existing Home Sale previous 4.65M and forecast 4.73M and second medium importance event Existing Home Sale (not new) previous 1.3% and forecast 2.2%

Recommendations:

Today EUR/USD have bullish pattern as technical and fundamental base because today EUR have strong values as per survey, so buy trade is best.

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