Important developments today:

8:00 UTC – EU: composite PMI index.

13:45 UTC – US: composite PMI.

The day before, the US released statistics on jobless claims and secondary market home sales. Both releases came out worse than market expectations, which fits perfectly with the signals of a future recession in the economy. Standing out here are home sales which fell by 22.8% (YoY) in March.

Today the Eurozone and the US will publish data on business activity indexes (PMIs) for industry and services. The Eurozone has been showing faster growth than the states in recent months and today we might see this trend continue, which is good for the EUR. Against this background it is advisable to use the decrease of the quotes to the nearest support levels to buy EURUSD.

Recommendations: Buy 1.0918/1.0887 and TP 1.1031.