Gtag:

Euro depreciates ahead of German ZEW Economic Sentiment Data, 25+ PIP Volatility Likely in Euro Parity; June 08, 2021

Euro German ZEW Economic Sentiment

Today Euro will publish German ZEW Economic Sentiment Data at 0900 GMT/1430 IST. It’s a leading indicator of economic health – investors and analysts are highly informed by virtue of their job, and changes in their sentiment can be an early signal of future economic activity. This data is derived via a survey of about 300 German institutional investors and analysts which asks respondents to rate the relative 6 – month economic outlook for Germany.

Let’s see how Euro has reacted during the previous data release:

May 11:

April 13:

Technical View:

EUR/USD:

  • The Euro starts a new day on a lower note and stabilizes below $1.22 mark.
  • The pair made intraday high at $1.2194 and low at $1.2176 mark.
  • A day and H1 chart suggest Bullish Trend for the time being.
  • A consistent close above $1.2199 on H1 chart requires for the upside rally.
  • Alternatively, a sustained close below $1.2150 on H1 chart will check further supports.
RESISTANCES SUPPORTS
$1.2199 $1.2150
$1.2222 $1.2122
$1.2248 $1.2080
$1.2272 $1.2062
$1.2304 $1.2037

Take a look and do trade wisely!
Good Luck

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