Short-term outlook for EURUSD is to buy

A number of important eurozone economic indicators were released today.

Let's take a look at them, and see why they’re important.

Germany

Change in the number of unemployed: actual value (-4K) forecast value (20K);

Unemployment rate: actual value (5.6%) forecast value (5.7%);

Italy

Unemployment rate: actual value (7.4%) forecast value (7.7%);

Manufacturing PMI: actual value (44.5%) forecast value (44.2%);

France:

Manufacturing PMI: actual value (45.1%) forecast value (44.5%);

Thus, all published data exceeded the forecasted values. Currently, this indicates a certain stability of the eurozone economy. And such stability, in turn, is a foundation for further monetary tightening, if it takes place.

And this, in any case, is a short-term basis for strengthening of the European currency until the opening of the American session.

The outlook for the EURUSD pair is to buy with the target of 1.1020.

A Stop-loss should be placed at 1.0950.