EUR/USD: instant prospects – Analytics & Forecasts – 11 February 2022

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At present, market contributors will take note of the publication (at 15:00 GMT) of the preliminary index of shopper confidence from the College of Michigan. This indicator displays the arrogance of American customers within the financial growth of the nation. A excessive degree signifies financial development, whereas a low degree signifies stagnation. Earlier indicator values: 67.2 in January 2022, 70.6 in December, 67.4 in November, 71.7 in October, 72.8 in September 2021. A rise within the indicator will strengthen the USD, and a lower within the worth will weaken the greenback. The information reveals uneven restoration of this indicator, which is unfavorable for the USD. Knowledge worse than earlier values ​​might have a unfavorable affect on the greenback within the quick time period. Nonetheless, the relative development of the indicator (based on the forecast, the worth of 67.5 is anticipated) ought to help the greenback quotes, together with within the EUR/USD pair, which, on the time of publication of this text, is buying and selling close to 1.1390, barely above the essential short-term help degree of 1.1386. Its breakdown shall be a sign for the resumption of quick positions.

see additionally -> TRADING RECOMMENDATIONS

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