Euro Strengthens Analyst Vibiz Unidirectional Projections

(Vibiznews-FX) - The euro on trade this week (July 22 to 27) are generally observed to show a trend strengthened against the U.S. dollar. Trade the currency pair EUR / USD is in the range of 1.3156 after opening at the beginning of the trading week has risen about 121 pips or about 0.91% and closed at around 1.3277.

Analysts Vibiz Consulting suggests that the strength of the Euro currency on the week, one of which related to the report of the Ifo Institute for Economic Research (business and economic research institute) that announces to the public that the business climate in Germany showed improved performance, but still lower than expected.

The development is indicated by an increase in indicators of economic fundamentals German Ifo Business Climate 106.2 of the increased value of the previous period is 105.9. The increase showed lower performance than the estimated number of economists who expect to be able to rise to 106.3 points.

As for trading in the coming week (July 29 to March 3), the normal range trading EUR / USD weekly forecast to have a support level at 1,318 and then at 1.3083. While the resistance level at 1.3335 and then at 1.3393.

The movement of this currency pair is expected to be influenced by several economic data releases which include: Minimum Bid Rate, ECB Press Conference, Spanish Manufacturing PMI and Unemployment Rate.

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