The interest in the common currency is moderate on positive data from the eurozone.
Germany’s balance of trade has shown a surplus. In the meantime, France’s balance-of-trade deficit is equal t to 6.3B euro, even though analysts expected it to be 6.0B euro.
It is possible to assume that even despite a decline in domestic demand the German economy is supported by external trade.
FOREX.
According to the Department of Masterforex-V trading System, EURUSD keeps moving in a range of H8. In order to come out of the range it is necessary to overcome the MF pivot 1.3661 and the MF sloping channel 1.3607/1.3680. In this case the price will continue the downswing in the form of wave C H8, with the closest support at 1.3532 (111% Fibo). Otherwise, EURUSD will make a series of upward FZRs up to the MF pivot 1.4243. If it is overcome, the closest target will be found at 1.4376.
