The May value of the index of business activity in the German manufacturing sector rose to 52.4, reaching a five-month maximum, from a revised 51.8 in April. It was supposed to see the rise of 52. The indicator of business activity in the German service sector recorded an increase, reaching a maximum of three months, with April's 54.5 figure had risen to 55.2. According to the forecasts expected to rise to 54.6.
After analyzing the rate EUR, we can say that the pair is trading sideways, forming a consolidation above the 1.1200 support level.
The area of 1.1200 is the first support below 1.1130. In the area of 1.1250 is the first resistance, above - 1.1300.
A sell signal is strong and confirmed. The price is below the Ichimoku cloud and below the line Chinkou-Span.Tenkan-sen and Kijun-sen demonstrate horizontal movement. The urgency of the downward movement will continue as long as the price is below the Ichimoku cloud.
Histogram MACD is in the negative zone. The price is consolidating.
Trading recommendations of the EURUSD
the sell transactions for EUR relevant. 1.1200 mark to be regarded as the first target. If the level of 1.1200 will be lost, will free the way to the level of 1.1130.
Source Fort Financial Services
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