EUR/USD TECHNICAL OUTLOOK : 12.09.2016

EUR/USD TECHNICAL OUTLOOK : 12.09.2016

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EUR/USD. Pair after opening at 1.1264 Made a high of 1.1285 and was trading with side wise to negative bias, during the day after violating the supports of 1.1260 the pair is having strong supply coming in above 1.3 mark and not able to close above the said levels so any rise in the pair is shorting opportunity

Fundamental Overview

Euro is trading at 1.1240, deprecating marginally against the US dollar from Friday. Euro remained weak despite positive outlook from the ECB chairman. Weaker data in the previous week added to the pressure on the Euro. No economic data from the Euro area today and elsewhere, expect the US dollar to trade stronger and Euro to test 1.12.

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