Breaking down the main components of euro area inflation, services is expected to have the highest annual rate in April , followed by food, alcohol & tobacco . Then, non-energy industrial goods and energy .
EUR/USD appears to have tested the psychological level of 1.0700 on an intra-day level, with channel resistance in focus for bulls around 1.0765 and potentially the confluence zone above 1.0795 where the 50 and 200-day simple moving averages reside.EUR/GBP has produced a massive reversal since rising out of the prior horizontal channel which has encased the majority of price action in 2024. The move found resistance at the 0.8635 level, turning sharply lower since.
After trading below 0.8560, the pair appears supported after the positive data dump this morning and heads back towards 0.8560.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk. Losses can exceed deposits.
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