09.09.2019
The single currency of the European Union has fluctuated in a narrow and bullish range during the Asian session to witness the rebound for the third session in five sessions from the lowest since May 15, 2017 against the US dollar on the eve of developments and economic data expected on Monday by euro zone economies and amid The economic data earlier this week was tightened by the world's largest economy.
At 05:20 am GMT the EURUSD rose 0.01% to 1.1029 levels from the opening at 1.1028, after the pair reached a session high of 1.1030, while a low of 1.1016.
Markets in the euro zone's largest economy, Germany, are looking ahead to the trade balance, which could reflect a widening surplus of € 18.8bn from € 18.1bn in June, before the release of the Sentix consumer confidence index for the euro zone as a whole. The contraction shrank to 13.0 from 13.7 in August.
EUR / USD is trading around the 1.1030 level, and the temporary bullish scenario is still likely over the intraday basis, which aims to test 1.1110 before returning to resume the main bearish trend again.
A break of the target will push the price to 1.1180 as a next positive target, while a break of 1.1005 represents the key to the price back to the downside key path again.
Expected trading range for today is between 1.0950 support and 1.1110 resistance.
Expected trend for today: Temporarily bullish.
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