Ivan Zhigalov
The common European currency is slowly recovering its losses. Probably the upward potential is connected with the forthcoming bond auctions in Spain and France.
Today’s news flow is rather rich in economic reports: retail sales (UK), inflation(EU) and the US news block, including initial and continued jobless claims, NY Fed manufacturing, real weekly earnings, capacity utilization, industrial output and Philly Fed manufacturing index.
For today’s Euro session the Department of Volume Analysis of has defined the following trends:
The mid-term trend of EURUSD: upward retracement
The short-term trend of 6ЕU1 (EURUSD futures) is the following:
Yesterday’s max volume cluster - 1.3697 (1100 lots) – is the current reference point. If the buyers succeed in turning it into a support level, they will get a chance to start a further rally. Otherwise the currency pair will continue its mid-term downtrend.
The Department of Volume Analysis of
Ivan Zhigalov
