The euro climbed against the U.S. dollar on Friday, as upbeat euro zone data inflation and unemployment data. lent support, while concerns over the strength of the U.S. economy dampened demand for the greenback. EUR/USD hit 1.1072 during U.S. morning trade, the pair’s highest since October 28; the pair subsequently consolidated at 1.1054, advancing 0.70%. The pair was likely to find support at 1.0902, Thursday’s low and resistance at 1.1095, the high of October 28. Eurostat, the statistical body of the European Union, reported on Friday that the annual rate of inflation was flat in September, compared to expectations for a 0.1% uptick. Euro zone inflation fell 0.1% in August. It was the first time in six months that the region saw declining inflation.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5370 TARGET 1.5390 1.5430 SL 1.5340
SELL GBP/USD BELOW 1.5300 TARGET 1.5280 1.5250 SL 1.5340
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