Fundamental Analysis
German PMI climbed to 42.2, slightly below the expected 42.8
ECB has signaled that it will start to lower interest rates in June
UK PMI also miss the expectation
Technical Analysis
On chart D, price reacts at 0.85824, showing strong support at this price zone (resistance was broken before). An increasing trend gradually forms
If price continues to break SMA200, at 0.8600, an uptrend will be formed.
On 4H chart, strong support at 0.85555 , also SMA 200 on 4H, create a strong supply zone. A fall to this support will stimulate buyer into the market
German PMI climbed to 42.2, slightly below the expected 42.8
ECB has signaled that it will start to lower interest rates in June
UK PMI also miss the expectation
Technical Analysis
On chart D, price reacts at 0.85824, showing strong support at this price zone (resistance was broken before). An increasing trend gradually forms
If price continues to break SMA200, at 0.8600, an uptrend will be formed.
On 4H chart, strong support at 0.85555 , also SMA 200 on 4H, create a strong supply zone. A fall to this support will stimulate buyer into the market