The close above 22.530 signals another attempt Up is on its way – Monday – Said that on Friday…but did not expect what happened at the end.
However, very strong fundamental factors overwrites it all – EU decision to arm to the teeth  and mostly from local sources means that the whole Industry will get a big boost now – everyone in the chain of armaments production will enjoy it.
This is not just a temporary move, but something that will lead overall industrial development in Europe.
Start of the week with an Uptick Gap – this is going to be one of those crazy weeks…lots of Major Events , and each one can change the overall picture within ten seconds.
So I am going to avoid trying to guess how it’s going to go – I’ll stick with day in and day out predictions.
Right now:
Supports: 1.04450, 1.04050 & 1.03600
Resistances: 1.04750, 1.04900 & 1.05300
1.04750 is a Major intraday level to watch – if EUR goes above it and finds a footing, the road to 1.06 area is open again.
Loss of 1.03600 will drive it straight to the 1.02250
British Prime Minister Keir Starmer said European leaders on Sunday agreed to steps to beef defence efforts and secure peace in Ukraine and stability across the continent at a summit staged as a show of support for President Volodymyr Zelenskyy.
But he said that the support and buy in of the US was essential to make the plan work.
Economic data releases in the coming week will focus heavily on PMI surveys across Asia, Europe, and the United States, providing insight into early 2025 growth momentum. In Asia, attention centers on February PMIs after January data were clouded by Lunar New Year timing, while South Korea reports inflation, industrial production, and retail sales. Chinese inflation is due over the weekend, likely showing continued subdued price pressures. Meanwhile, Australia’s busy calendar includes fourth-quarter GDP, retail sales, and trade figures; the Reserve Bank of Australia’s latest meeting minutes will draw special interest following its first policy rate cut since 2020.
In Europe, the key event is the European Central Bank’s policy meeting, with a widely expected 25-basis-point rate cut as Eurozone data remain soft. February PMI readings are expected to confirm ongoing sluggishness, while Germany will release volatile manufacturing orders data. Across the Atlantic, the United States will feature February employment data and the Fed’s Beige Book. Analysts will watch for any signs of government job cuts in the federal data, though the consensus points to another month of moderate payroll gains and a stable unemployment rate around 4.0%. The U.S. trade balance may widen further after a rush of imports ahead of anticipated tariffs, and overall economic signals will remain sensitive to evolving policy developments.