- EUR/USD broke resistance level
- Spanish Unemployment Rate
- U.S. CB Consumer Confidence
Price Movement
Since yesterday, EUR/USD has been moving upwards slowly.
Trend
EUR/USD is trending downwards.
Macro Background
The unemployment rate measures the percentage of total work force that is unemployed and actively seeking employment. The Spanish unemployment rate, released quarterly, is expected to be worse than previous quarter. If the data released is worse than expected, we may only be seeing a small downward move in EUR/USD since Spain’s GDP contribution to Europe is not as high as countries like Germany and France.
The Conference Board (CB) Consumer Confidence, which measures the level of a composite index based on surveyed households, is expected to be lower than previous month. If the data released is worse than expected, USD may weaken and EUR/USD may rise.
Important Issue
None.
Technical
Yesterday, EUR/USD tested and broke the resistance level of 1.14138.
Price Levels
Current Price: 1.14360
Next Resistance: 1.14781
Next Support: 1.14138
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