The euro remains stable. Statistics on the Eurozone
The single currency maintains its positions against the US dollar, continuing trading near the high of today’s trading at 1.2461. Such dynamics is due to the publication of mixed data on the Eurozone.
- Preliminary data on the basic consumer price index indicate an annualized growth of 1.0%, which exceeds the previous value of 0.9%.
- In turn, the consumer price index (CPI) on an annualized basis slowed the growth in January to a level of 1.3%, against the previous value of 1.4%.
- The unemployment rate in the Eurozone remains at the level of 8.7%.
Technical analysis: The EUR/USD pair has a positive attitude in the course of trading. The main support levels are 1,2385, 1,2330. The resistance levels are 1,2500, 1,2535.
Key recommendations: At this point, it is worth considering both purchases and sales from the above-mentioned support and resistance levels with a potential of 50-60 points and a stop-loss of no more than 30 points. Also, before publication of data on employment in the US from ADP, it is worthwhile to insure the opening of the position, and it is better, by that moment to fix the profit.
Fig. EUR/USD. The current price is $ 1.2445.
Alexander Sivtsov