flag-gb flag-my flag-zh flag-id flag-th flag-vi

EUR / USD is expecting the release of preliminary data on PMI of the construction and services sectors

The EUR / USD pair is trading down by 0.2% today. The main pressure on the price is exerted by the situation on the stock markets. Key indices are trading in the red, reflecting low risk appetite among investors. Considering the above, the US dollar, as one of the main defensive assets, is recovering its positions and is strengthening against all G7 currencies, with the exception of the Japanese yen, which also belongs to defensive assets.


In general, trading on Friday is quite calm. Investors are awaiting the release of preliminary data on manufacturing and services PMI in the US and the EU to assess the extent to which the pandemic will affect economic activity in the regions.


In Europe, a slight decrease in PMI is expected due to a worsening epidemiological situation in the EU. If the data comes out worse than market expectations, which is very likely, the European currency may come under strong pressure.


Also today, the IFO Institute will publish indices for Germany. The business climate index is expected to grow from 93.4 to 93.8 points.


In the US, experts predict a slight increase in the manufacturing sector PMI. Also, investors continue to follow political news in the United States.


The chart is dominated by bearish signals. The bulls failed to keep the price above the support at 1.1800. While the price remains below this level, we consider the scenario with the development of a downward movement to 1.1750 and below as a priority.


  • Resistance levels: 1.1800, 1.1865, 1.1905.


  • Support levels: 1.1750, 1.1700, 1.1635.


The main scenario - a decline to 1.1750.


An alternative scenario - a consolidation above 1.1800 and recovery to 1.1865.


The current fundamental outlook is neutral. We consider shorts in the range of 1.1800-1.1810.

Latest news

No Deposit Bonus 100 USD – available for 3 days only!

2020-11-23 08:44:40

Only from 23 to 25 of November, the largest no deposit bonus 100 USD is available for all Forex traders! πŸ† Bonus details: 100 USD maximum withdrawal 75 lots of required trading turnover 2 weeks to try all of the trading conditions Available for cent accounts πŸ“ How to get the bonus: 1) Register an […]

Deposit Bonus 200%

2020-11-03 08:45:33

Only from November 02nd to December 04th, 2020, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of 200%? […]