EUR/USD TECHNICAL OUTLOOK : 01.09.2016

EUR/USD TECHNICAL OUTLOOK : 01.09.2016

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EUR/USD. Pair after opening at 1.1142 Made a high of 1.1162 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 1.11757, remaining largely unchanged as markets eagerly wait for the jobs data. Economic data reported from the EU remained weak and added to the downward pressure on the shared currency. Core CPI and CPI were reported lower than expected at 0.8% and 0.2%respectively. Focus would be on the German and European manufacturing numbers and a weaker reading could see further sell off in the shared currency.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
13:25:00 EUR German Manufacturing PMI (Aug) 53.6 53.6
21:30:00 EUR ECB's Nowotny Speaks
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