ByJin Dao Tai
JUL 8, 2021
Overall, EUR/USD is trending downwards. Recently, EUR/USD broke the support zone of 1.18500.
In the released quarterly EU Economic Forecasts yesterday, the European Commission revised the eurozone economic growth forecast for 2021 and 2022 upwards from 4.2% to 4.8% and 4.4% to 4.5% respectively. Inflation for 2021 and 2022 have also been revised upwards from 1.7% to 2.2% and 1.3% to 1.6% respectively.
The European Central Bank will be releasing the minutes for its recent monetary policy meeting later at 1930 (GMT+8).
EUR/USD’s next support zone is at 1.16300 and the next resistance zone is at 1.18500.
Look for selling opportunities of EUR/USD.
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