Overall, EUR/USD is trending downwards.

The eurozone Consumer Confidence data (Actual: -3, Forecast: -4, Previous: -5) released yesterday indicated a slight decline in the level of pessimism of the surveyed consumers on the eurozone economy.

The French flash PMI data will be released later at 1515 (SGT).

  • French Flash Manufacturing PMI (Forecast: 59.0, Previous: 59.4 revised from 59.2)
  • French Flash Service PMI (Forecast: 59.6, Previous: 56.6 revised from 50.4)

The German Flash PMI data will be released later at 1530 (SGT).

  • German Flash Manufacturing PMI (Forecast: 63.0, Previous: 64.2 revised from 64.0)
  • German Flash Services PMI (Forecast: 55.8, Previous: 52.8)

The eurozone flash PMI data will be released later at 1600 (SGT).

  • Flash Manufacturing PMI (Forecast: 62.4, Previous: 63.1 revised from 62.8)
  • Flash Services PMI (Forecast: 58.1, Previous: 55.2 revised from 55.1)

European Central Bank President Lagarde will be speaking tomorrow at 0000 (GMT+8).
During this time, there may be volatility in EUR.

Currently, EUR/USD is moving towards the resistance zone of 1.19700 and the next support zone is at 1.17900.
Look for selling opportunities of EUR/USD if it rejects the resistance zone of 1.19700.


Be sure to follow me on Twitter at @jdtai and on TradingView at Jin_LCMSTraders for my latest post!

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By Jin Dao Tai

JinDao Tai is an Entrepreneur, Award-Winning Forex Coach & Trainer, International Speaker and Multi-Million Dollar Trader. Starting out his career as an economic & financial consultant in Australia, one day he decided to change his life and pivoted into multiple entrepreneurship endeavours and eventually into managing a multi-million dollar portfolio.

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