Euro Industrial Production
Today’s European calendar has scheduled to release Industrial Production Data at 0900 GMT/1430 IST. It’s a leading indicator of economic health – production reacts quickly to ups and downs in the business cycle and is correlated with consumer conditions such as employment levels and earnings. It tends to have a relatively mild impact because Germany and France, which account for about half of the Eurozone’s economy, release earlier production data.
Let’s see how Euro has reacted during the previous data release:
- The pair is currently trading around $1.2110 mark.
- The pair made intraday high at $1.2113 and low at $1.2094 mark.
- Today triple EMA on a day chart is up but H1 chart suggests bearish trend for the time being.
- Alternatively, a sustained close below $1.2080 on H1 chart will check further supports.
Take a look and do trade wisely!