The euro received support. The economic sentiment is growing

The single currency recovered more than 50% of losses against the US dollar in the first half of Tuesday trades. The euro was supported by positive data on the economic sentiment in Germany and the Eurozone.

• The index of economic sentiment ZEW in Germany in January rose to 20.4, exceeding the previous value of 17.4.
• The index of economic sentiment from ZEW in January was 31.8, exceeding the December value at 29.0.

Do not expect a significant increase in the single currency, as market participants are already focusing on the January meeting of the ECB . The results will be announced on January 25.

Technical analysis: The EUR/USD is moving in the flat range with support at 1.2213 and resistance at 1.2280.

The main recommendations: For aggressive trading it is worth considering purchases from the levels of 1.2215, 1.2200, with a potential of 40-50 points. Sales should be considered from the levels of 1.2280, 1.2300 also with a potential of 40-50 points. More conservative purchases should be considered from the mark 1,2165, sales in the area of ​​January maximum at 1.2320.

Fig. EUR/USD. The current price is $ 1.2245.

Alexander Sivtsov