EUR/USD TECHNICAL OUTLOOK : 05.10.2016

EUR/USD TECHNICAL OUTLOOK : 05.10.2016


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EUR/USD. Pair after opening at 1.1210 Made a low of 1.1137 after our market closed the was trading with some week bias after violating ,1.1190 and 1.1140 is acting as a strong support for near term yesterday formed bullish wick pattern signifies indecision in the pair so the pair is likely to trade in the range of 1.1150- 1.1270 for near term

Fundamental Overview

Euro is trading at 1.1210, rallying from the lows near 1.1150 that were seen yesterday. Euro was trading lower on the back of deutsche bank worries but news about the ECB tapering its quantitative program led to a sudden spike in the shared currency. This news has not been confirmed and the gains could drop quickly as the banking troubles would continue to push Euro lower.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
13:25:00 EUR German Services PMI (Sep) 50.6 50.6
13:30:00 EUR Markit Composite PMI (Sep) 52.6 52.6
13:30:00 EUR Services PMI (Sep) 52.1 52.1
14:30:00 EUR Retail Sales (MoM) (Aug) -0.30% 1.10%
15:05:00 EUR German 10-Year Bund Auction -0.11%
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