EUR/USD Outlook (24 February 2020)

Overall, EUR/USD is trending downwards. Recently, EUR/USD strengthened for a short period of time after the release of the better than forecasted eurozone PMI data last Friday.

Flash Manufacturing PMI (Actual: 49.1, Forecast: 47.4, Previous 47.9 revised from 47.8)
Flash Services PMI (Actual: 52.8, Forecast: 52.4, Previous 52.5 revised from 52.2)

EUR/USD’s next support level is at 1.06000 and the next resistance level is at 1.08720.
Stay out of EUR/USD for now.