Friday’s trade saw EUR/USD within the range of 1.1107-1.1246. The pair closed at 1.1159, falling 0.44% on a daily basis. It has been the 12th drop in the past 25 trading days. The daily high has been a higher-high test of the high from February 4th and also the highest level since October 22nd, when a high of 1.1352 was registered. In weekly terms, EUR/USD appreciated 2.97% last week, or the most since the week ended on May 3rd 2015, when it rose 3.01%. It has been the third gain in the past five weeks and also a second consecutive one. EUR/USD has risen 2.84% so far during the current month.
At 7:23 GMT today EUR/USD was edging down 0.10% for the day to trade at 1.1143. The pair touched a daily low at 1.1128 at 4:25 GMT, undershooting the daily S2 level, and a daily high at 1.1150 during the early phase of the Asian trading session.
On Monday EUR/USD trading may be influenced by the following macroeconomic report listed below.
Fundamentals
Euro area
Sentix Investor Confidence
At 9:30 GMT Sentix GmbH is to release the results from its monthly survey on confidence among investors in the Euro area regarding February. The corresponding index came in at 9.6 in January, slowing down from 15.7 in December. January has been the 13th consecutive month, during which the gauge occupied positive territory, but it also marked the lowest level of confidence since January 2015. The Sentix survey encompasses 2 800 respondents, with 510 of them being institutional investors. Respondents present their expectations regarding ten different markets for a period of one and six months. The index itself is based on 36 different indicators. Readings above zero indicate that respondents were predominantly optimistic, while readings below zero show pessimism. An improvement in investor confidence will usually have a limited bullish effect on the common currency.
Daily and Weekly Pivot Levels
By employing the Camarilla calculation method, the daily pivot levels for EUR/USD are presented as follows:
R1 – 1.1172
R2 – 1.1184
R3 (range resistance) – 1.1197
R4 (range breakout) – 1.1235
S1 – 1.1146
S2 – 1.1134
S3 (range support) – 1.1121
S4 (range breakout) – 1.1083
By using the traditional method of calculation, the weekly pivot levels for EUR/USD are presented as follows:
Central Pivot Point – 1.1072
R1 – 1.1333
R2 – 1.1506
R3 – 1.1767
S1 – 1.0899
S2 – 1.0638
S3 – 1.0465
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