EUR/USD New York Price Forecast: Euro trading in 6-week’s highs above 1.1000 figure ahead of ISM Manufacturing PMI

 

 

EUR/USD is trading in a bear trend while challenging the 200-day simple moving average (SMA) near 1.1000 figure. The spot is reversing up sharply from 34-month lows. The ISM Manufacturing PMI for February will be released at 15:00 GMT.

 

 

 

EUR/USD is spiking to the upside, continuing last week’s bullish move. As the buyers remain in control the market could appreciate further towards the 1.1163, 1.1186 and 1.1221 price levels. Support can be expected near the 1.1093 and 1.1058 price levels, according to the Technical Confluences Indicator.