Discussion in 'Forex' started by nycfxproptrader, Apr 14, 2004.

  1. EUR/USD trades around 1.1945/50 in early European morning Wednesday. Steady gains have been made since falling to a fresh five-month low of 1.1896 in Asia.
    On the data front, March inflation reports from Germany (0.3% M/M) and France (0.4% M/M) had little impact. Meanwhile, the Bank of France maintains its growth forecast for Q2 at 0.5%, saying that the outlook for business activity is
    favourable in all sectors, Reuters reports. Still to come this morning, Italian CPI (exp 1.2% M/M in March) is slated for release at 07:30 GMT. Technically, daily studies are biased lower, albeit oversold. Strong support lies just below which could stall the bear run. The base of the 2% moving average band comes in at 1.1975 and fibo support lies at 1.1845 ()50% of 1.0765/.1.2925 move)