Up and Down EURUSD

During the Asian trading session the EURUSD went down reaching a minimum (1.08969), but the overnight movements of this rate usually are not important. Let me analyze what has happened today. During the morning the European PMI's has been released, all of them have been better than expected but not the German one (51.1 instead of 51.4 expected by the market). If the German PMI is bad, the European PMI will be bad. We have seen this affirmation today (European PMI 52.2 instead of 52.3 expected) Also, this rate has gone up because there was a rumor about a good conversation between Merkel, Hollande and Tsipras. I was short because I am quite skeptical with the problems that Greece has. The strengthen of the Euro has finished at 14:45 when the Chicago PMI showed a good figure (54). It wasn't better than the forecast but it's good enough to let the traders know about the improvement of the US Economy. Fifteen minutes later a really good ISM PMI was released. 52.8!!! What an amazing new for USD!!! This rate has fallen until 1.08889. Then it rebounded.

EURUSD 5Min 01/06/2015

Tomorrow you need to be aware of unemployment data of Europe, the construction PMI in UK, the Europe CPI and PPI and US Factory Orders. Also keep an eye on Greece, because it can be really important for the price of our rate.

As I said in my other article
The EURUSD has crossed the 1.09661 and then it went down really quickly. So I was right in my last article an is a really good level to have in mind.
Anyway keep on the rules of your trading strategy. What I express in this blog are only my opinions, you must have your own criteria. Good night, have a good trading day tomorrow.