A break and close below the 151.08 low may signal a further selloff. Important support levels at 145.90 1.618 Fibonacci Extension level and at 123.48 derived from a November 2018 bottom.
A break and close above the downtrend line may signal reversal of the bearish trend. Important resistance levels observed at 175.00 level, at 195.00 level where the 50 Day Moving Average lies right now and at 206.36 price level derived from an inside resistance level formed in the past.
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• It’s another quiet day on the Eurozone economic calendar, leaving stats from the U.S to provide direction late in the session. Announcements for EU Economic Area and Europe today are scarce and are coming solely from the EU front.
• It was a mixed session for the European majors on Thursday, which had seen just minor gains on the day prior. The EuroStoxx50 rose by 0.16%, while the CAC40 and the DAX30 ending the day up by 0.14% and by 0.33% respectively. All three had been in the deep red early in the session in response to the U.S sell-off on Wednesday.
• Stocks in Asia-Pacific mostly rose in Friday morning trade, following an overnight bounce for stocks stateside. The Nikkei 225 jumped 2.34% in Japan afternoon trade session.
• The UK’s Royal Institution of Chartered Surveyors' gauge of house prices - which reflects the proportion of surveyors reporting price increases - jumped in April to +75, its highest level since 1988, from +62 in March.
• At 06:30 (GMT) the French Unemployment Rate was due. The Unemployment rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous quarter.
• At 11:30 (GMT) ECB Monetary Policy Meeting Accounts are released. It's a detailed record of the ECB Governing Board's most recent meeting, providing in-depth insights into the economic conditions that influenced their decision on where to set interest rates.
European indices yesterday:
• DAX: +0.33%
• EURO: +0.16%
• MIB: +0.14%
• CAC: +0.14%
Sources:Investing.com, forexfactory.com, fxempire.com