Euro formed a base at 1.27 before rallying back above 1.28 as cross buying lifted. European Manufacturing PMI for January was revised lower to 34.4 from 34.5. Looking ahead for December PPI forecast to drop -1.1% vs.-1.9% in November.
Tech view feb 03
EURO R1: 1.2950 S1:1.2740
R2: 1.2980 S2:1.2710
chart pattern hints sideways to bull note . Trading range for the day is expected between 1.2790-1.2940 levels for the day. Momentum is seen trending up giving a small upward correction. Stochastic also giving a bullish crossover but bull trend can be confirmed only with the break of moving average .
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