Home EUR/USD Euro fell on weak manufacturing PMI data

Euro fell on weak manufacturing PMI data

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Euro fell on weak manufacturing PMI data - forexspacex.com

The EUR/USD grinds lower near the intraday bottom at 0.97640 level over week manufacturing PMI data. According to official sources, Spain’s manufacturing PMI fell from 49.9 to 49.0 Whereas the French manufacturing PMI fell from 50.6 to 47.7 and Germany’s manufacturing PMI slipped from 49.1 to 47.8 as the eurozone continues to bear the brunt of Russia Ukraine war. Analyzing the daily chart, if bears managers keep the price Away from the 21-day EMA then the EUR/USD pair may revisit the previous week’s low. Apart from this, the investors will shift their focus towards the US manufacturing PMI, which is due later today.

Important pivot points on the daily chart

NameS3S2S1Pivot PointsR1R2R3
Classic0.97660.97780.97850.97970.98040.98160.9823
Fibonacci0.97780.97850.97900.97970.98040.98090.9816
Camarilla0.97880.97900.97910.97970.97950.97960.9798
Woodie’s0.97640.97770.97830.97960.98020.98150.9821
DeMark’s0.97820.97960.9801 

Ref link


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