• EUR/USD was little changed on Tuesday as investors stayed on the sidelines, awaiting key economic data from Germany, Spain, France, and Italy later in the week.
. This week’s economic calendar includes key releases such as Eurozone industrial and sentiment data, Spanish preliminary consumer price figures, German retail sales, and initial consumer price reports
• Markets will closely examine the European Union's inflation report, set for release on Friday, for indications of the European Central Bank's future policy direction.
• Technical signals are strongly bullish as RSI is at 70, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.1206( 23.6%fib), any close above will push the pair towards 1.1256( Higher BB).
• Strong support is seen at 1.1149(Daily low) and break below could take the pair towards 1.1000 (38.2%fib).
Recommendation: Good to buy around 1.1150, with stop loss of 1.1100 and target price of 1.1230
