EUR/USD TECHNICAL OUTLOOK : 06.09.2016

EUR/USD TECHNICAL OUTLOOK : 06.09.2016


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EUR/USD. Pair after opening at 1.1158 Made a low of 1.1126 and was trading with 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

Fundamental Overview

Euro is trading at 1.1151, remained unchanged against the US dollar since we closed on Friday. Weaker non farm payrolls data failed to improve the shared currency and focus would be on the ECB monetary policy announcement this week. German factory orders and GDP data, due to be reported today are expected to be in line with expectations and wouldn’t do much to the shared currency.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
11:30:00 EUR German Factory Orders (MoM) (Jul) 0.50% -0.40%
14:30:00 EUR GDP (QoQ) (Q2) 0.30% 0.30%
14:30:00 EUR GDP (YoY) (Q2) 1.60% 1.60%
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