EUR/USD FOREX RECOMMENDATIONS

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EUR/USD failed to cut through 10-DMA hurdle of 1.0633 earlier today and fell to 5-DMA level of 1.0613 levels. The common currency ended Friday on a weaker note at 1.0608 levels.

The Bank for International Settlement (BIS) Real Effective Exchange Rate (REER) data for January published last Friday shows the EUR remained undervalued. 

Eurozone producer price index due later today could be ignored by the markets. Meanwhile, traders would scan the Bundesbank report for cues on policy makers’ view on growth and inflation. Trading volumes could be thin

Current exchange rate of EUR/USD pair is1.0616.

Our Latest Forex Recommendations:

Sell EUR/USD pair.

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