EUR/USD: news from the battlefield

EUR/USD has spent some tome under $1.3760 today, but then broke up $1.3774 (top of the Ichimoku Cloud at H4).

French flash manufacturing and services PMIs came lower than expected (47.1 and 47.4 vs. forecasts at 49.1 and 48.9 respectively). German and euro zone’s manufacturing PMIs were better than forecasts, but the services indices disappointed. Later today there will be a bunch of data releases in the US.

There’s a bearish engulfing formed on Thursday on the daily chart and a shooting star on the weekly timeframe. On Friday, however, a hammer-like candle was formed. Support lies at $1.3700, $1.3670 and $1.3625. A flag-like formation allows expecting the retest of the recent highs. Resistance is at $1.3800, $1.3830.

Chart. H4 EUR/USD


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