EUR/USD TECHNICAL OUTLOOK : 31.08.2016

EUR/USD TECHNICAL OUTLOOK : 31.08.2016

NIFTY Fut TREND : BUY ZONE
BANKNIFTY Fut   : BUY ZONE

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EUR/USD. Pair after opening at 1.1185Made a high of 1.1192, and was trading with a negative to side wise bias, during the day ,after the yellen speech and now the pair has violated the recent range and any rise close to its yesterdays high likely to find resistance, while strong resistance near swing high and channel resistance 1.1360 will face strong hurdle, so rise shall be utilized to sell the pair, but intraday can expect some bounce


Fundamental Overview

Euro is trading at 1.1157, continuing to remain on its depreciating trade as the US dollar remained in demand. Recent data from the Euro area turned weak, adding to the worries of the ECB. Expect further selling with the German unemployment and EU CPI data scheduled to be reported today.


Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
11:30:00 AM EUR German Retail Sales (MoM) (Jul) 0.50% -0.10%
1:25:00 PM EUR German Unemployment Change (Aug) -5K -7K
1:25:00 PM EUR German Unemployment Rate (Aug) 6.10% 6.10%
2:30:00 PM EUR Core CPI (YoY) (Aug) 0.90% 0.90%
2:30:00 PM EUR CPI (YoY) (Aug) 0.30% 0.20%
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