German Trade Balance (Mar) falls to 19.3 B , EURUSD consolidates around 1.1172 levels !

Forex G trade
Forex G trade

The Trade Balance measures the difference in worth between exported and imported goods over the month. A positive number indicates that more goods were exported than imported.

The German trade balance fell from 20.0 B towards 19.3 B in the previous month , analysts had expected German trade balance to remain unchanged 20.0 B last month …

This development should keep the EURUSD under pressure below 1.1253 levels , eyes on the key support 1.1172 next  , a consolidation around 1.1172 is likely……..(scalpers may buy around this level )………..however ; sustained breakout below 1.1172 will open 1.1065 levels……….

On the upside , resistance comes at the 1.1253 levels , break of this level ( before U.S Non-farm Payrolls ) is unlikely , however , If seen , focus will be on the 1.1380 levels ………..

In all , the EURUSD is likely to consolidate within 1.1172/.1253 range waiting for U.S  Non-farm Payrolls data……..


Further reading:

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