Prior 56.5
- Manufacturing PMI 55.3 vs 53.8 expected
- Prior 53.3
- Composite PMI 60.3 vs 57.1 expected
- Prior 57
So, there is a surprise. A nice little uptick for the UK. Services leading the charge and surely this is in large part to the UK Government's 'eat out to help out' scheme. Basically it means 50% off your food bill from Monday through to Wednesday. It's been very successful.
As I discussed in the previous review, the EUR/USD is about to finish the downside cycle in my opinion and start the another upside cycle towards the 1,1880.
The level at 1,1780 seems like solid support for the price today and there is potential for the upside rotation towards the Middle Bollinger band at 1,964
Further Development
Analyzing the current trading chart of EUR, I found that the sellers got exhausted today and the upside rotation is possible.
Watch for buying opportunities on the dips with the targets at 1,1880.
1-Day relative strength performance Finviz
Based on the graph above I found that on the top of the list we got Lean Hogs and VIX today and on the bottom Platinum and Live Cattle
Key Levels:
Resistance: 1,1880
Support level: 1,1780
