Fundamental Analysis of EUR/USD for January 2, 2018 888011000 110888 EUR/USD has been impulsively bullish recently which has actually led the rate to live above 1.20 cost location. Due to current weak point of USD, EUR acquired spontaneous momentum in spite of downbeat financial reports published today. The market is still rather short on liquidity after the holidays, observed in most nations. Today, Spanish Manufacturing PMI report was published with reduction to 55.8 from the previous figure of 56.1 which was anticipated to be at 56.4, Italian Production PMI decreased to 57.4 from the previous figure of 58.3 which was anticipated to be at 58.6, French Final Production PMI decreased to 58.8 which was expected to be the same at 59.3, German Final Production PMI report was released unchanged as anticipated at 63.3, and Last Production PMI report has likewise published the same at 60.6 as expected. On the other hand, today United States Final Production PMI report is going to be released which is expected to be unchanged at 55.0. As for the current circumstance, USD has been weighed down by EUR whereas any favorable financial report on the USD side will encourage spontaneous counter relocation, leading to additional bearish pressure in the future. The possibility of EUR losing premises in the coming days is quite high.Now let uslook at the technical chart. The price is presently holding above the 1.2050 and is anticipated to have a spontaneous pullback to the vibrant level soon. A daily close listed below 1.2050 today is anticipated to cause more bearish pressure in the pair with a target towards 1.1850 area in the coming days. The material has been offered by InstaForex Company -www.instaforex.com

By | January 2, 2018

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