After the US announced that non-agricultural employment growth in May was lower than expected, the US dollar suffered and fell to near the 90 mark causing Euro to strengthen and test the 1.2200 mark. The European data last week was slightly better than expected and the European Union’s inflation rate remains low. The core annual inflation rate in May was 0.9%. Retail sales in April did not meet expectations.
German sales fell 5.5% from the previous month, while EU sales fell 3.1% during the same period. From a technical point of view, the Euro's weekly and daily candle both show greater strong pressure from the top. The ability to maintain high volatility also shows that the Euro bulls are still strong. The H4 graph operation area is close to the deciding point for bull and bear. Overall prioritise operation on fluctuation zone. The deciding point for bull and bear is at around 1.2160.
Resistance point：1.2200-1.2230-1.2265
Support point：1.2160-1.2130-1.2100
Disclamer: The report is speculatif and DO NOT guarantee profit. Not financial advice. Please trade at your own risk.