ByJin Dao Tai
APR 26, 2021
Overall, EUR/USD is trending upwards. Recently, EUR/USD trended into the key level of 1.21.
The series of eurozone flash PMI data released last week was overall very positive. The services sector in France and the eurozone in general recovered into the expansionary level. The eurozone manufacturing sector continues to expand at a faster pace.
- French Flash Service PMI (Actual: 50.4, Forecast: 46.6, Previous: 48.2 revised from 47.8)
- French Flash Manufacturing PMI (Actual: 59.1, Forecast: 59.0, Previous: 59.3 revised from 58.8)
- German Flash Services PMI (Actual: 50.1, Forecast: 51.1, Previous: 51.5 revised from 50.8)
- German Flash Manufacturing PMI (Actual: 66.4, Forecast: 65.8, Previous: 66.6)
- Flash Manufacturing PMI (Actual: 63.3, Forecast: 62.0, Previous: 62.5 revised from 62.4)
- Flash Services PMI (Actual: 50.3, Forecast: 49.1, Previous: 49.6 revised from 48.8)
The German ifo Business Climate data (Forecast: 97.8, Previous: 96.6) will be released later at 1600 (SGT).
Currently, EUR/USD is moving towards the resistance zone of 1.21500 and the next support zone is at 1.19700.
Look for buying opportunities of EUR/USD if it breaks the resistance zone of 1.21500.
Be sure to follow me on Twitter at @jdtai and on TradingView at Jin_LCMSTraders for my latest post!
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