EUR/USD & German ZEW Economic Sentiment: Upside momentum for the Euro?
Today at 09:00 GMT we'll know the German ZEW Economic Sentiment and that data is expected to have major movements in the EUR pairs, as the analysts are expecting an increase from 0.5 to 2.5. Following the Brexit's outcome, ZEW economic sentiment in Germany had a strong fall, but later it went back to the positive area. Last release was below the forecasted and we'll see if there could be any surprises in the number.
The technical analysis for EUR/USD at H4 chart is still calling for an upside continuation, still respecting the bullish trend line projected from the August 27th lows. Also, the pair has been finding dynamic support on the 200 SMA. The support zone of 1.1143 can provide rebounds in coming days and if the data comes above the expectations, that level shouldn't be tested and a rally towards the 1.1353 level is a likely scenario.