Retail sales in Germany declined in February. The index fell by 0.4% m/m, after a falling by 0.1% in January. Economists forecasted a growth of sales by 0.3% compared with January’s release. The number of unemployed in Germany remained unchanged in March, the unemployment rate remained at 6.2%.
The first support lies at 1.1350 and then at 1.1260. The first resistance stands at 1.1450, the next one is at 1.1550.
There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is growing.
The buyers need to break above 1.1450 for a steady growth. The way to the mark 1.1550 will be opened after this breakthrough.