As today’s economic calendar is flooded with PMI data, we implore you to watch a short video on the EURUSD & GBPUSD pair, presented in the 5 February Intraday Technical Analysis by Stuart Cowell.
5 February, HotForex – The EURUSD is underpinned by today’s better-than-expected final Euro-zone services PMI figures. In fact, the final composite EZ services PMI came in at 58.0, as against the preliminary estimate of 57.6, and remained supportive of the pair’s up-move.
It, however, remains to be seen if bulls are able to once again get hold of the key 1.2500 psychological mark as focus shifts to the ECB President Mario Draghi’s testimony before the European Parliament, which is expected to infuse some volatility across the EUR crosses.
Ahead of the key event risk, the release of US ISM non-manufacturing PMI would also be looked upon for some short-term trading opportunities later during the early NA session.
5 February EURUSD & GBPUSD Intraday Technical Analysis (+Video)
Key figures likely to drive EUR and Sterling crosses today.
This article about 5 February Intraday Technical Analysis was written by Stuart Cowell, Market Analyst at HotForex. The provided article is a general marketing communication for information purposes only. It does not constitute an independent investment research. Nothing in this communication contains an investment advice or an investment recommendation. It also does not contain a solicitation for the purpose of buying or selling of any financial instrument.
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