The common Euro currency starts getting out of the slump. It is unclear how strong it is and how high it will manage to go. Nevertheless, Jean-Claude Trichets gives us to understand that in the short run the common currency may well strengthen its positions.
The UK’s news block is to come out at 08:30GMT while the US news block (including Non-Farm Payrolls and Unemployment Claims) will be released at 12:30GMT.
For today the Department of Volume Analysis of has defined the following trends:
The mid-term trend of EURUSD is downward
The short-term trend of 6ЕZ1 (EURUSD futures) is the following:
Yesterday’s max volume cluster at 1.3408 (5000 lots) is currently the reference point. It is important for the bulls to maintain their positions above the level in order to initiate a rally. Otherwise the common currency will keep declining in mid-term perspective.
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