Eurozone trade balance data

• Trade balance (Jan), fact 1.5B, forecast -8.0B.

Eurozone’s trade balance slowed down at a less significant pace than expected, showing a significant decline to the lows of the past two years. It indicated a continued downward trend in the eurozone trade balance, but the data turned out to be less negative than expected, which is viewed as positive data.

Fig. 1. Eurozone trade balance chart

The euro reacted quite restrained to the data on the trade balance in the eurozone, continuing to trade in an uptrend on the weakness of the US dollar. The EUR/USD pair is trading with strengthening, limited to overbought and resistance 1.1360-80.

Fig. 2. EUR/USD chart. Current price – 1.1350

Read also: “5 candlesticks pattern rule. Candlestick analysis”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. The US Dollar Index (DXY) as an auxiliary indicator for trading in safe haven currencies
2. 3 major mistakes of  traders-beginners
3. Emerging markets and their prospects

Current Investment ideas:

1. Walt Disney shares are ready for the spring growth! Earn on a ready-made investment idea!
2. Johnson & Johnson shares are growing again! Connect to an investment idea now!