Eurozone February construction output -2.1% vs +0.8% m/m priorPrior +0.8%Construction output -5.8% y/yPrior -1.9%; revised to -2.6%A bit of lagging indicator as construction activity seems to be weighed down again as tighter restrictions weighed on things in Q1. Civil engineering activity fell by 3.2% and building construction fell by 1.3% in February.Further Development
Analyzing the current trading chart of EUR, I found that EUR reached my first upside target from last week at the price of 1.2035.My advice is to watch for buying opportunities on the pullbacks with the next upside target at the price of 1.2100.Momentum is very strong to the upside, which is good indication for further upside continuation.