EUR To Be Supported By Two Flash Manufacturing PMI

Currency Pair:                    EURUSD

Recommendation:               BUY

Volatility:                            150

Entry Point:                        1.33338

Stop Loss:                         1.32888

Take Profit:                        1.34388

The European market fell yesterday, as DAX closed at 8,285.41 down by 14.62 points while SX5E closed at 2,774.58 down by 13.40 points.  US stock market has seen the same bloodshed, with Dow jones dropping 105 points closing at 14897 while S&P 500 closed at 1642.8 taking away 9.55 points.

In today’s trading French Flash manufacturing PMI data will be release later this afternoon to as forecast data 50.4 is better than previous data with 49.7 same with German Flash manufacturing PMI forecast 51.1 with previous is 50.7. While the buck’s data shows an increase of 329k forecast from previous 320k Unemployment claims.

A long position for EURUSD is recommended as we see better economic data from the European market.