EUR/USD TECHNICAL OUTLOOK : 07.10.2016

EUR/USD TECHNICAL OUTLOOK : 07.10.2016

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EUR/USD. Pair after opening at 1.1207 Made a high of 1.1213and was consolidating in a narrow range throughout the day , and break on the NY session the pair was trading in the range of 1.1120-1.1250 for week now that range is under treat for violation on the downside so any rise is a opportunity to sell the pair

Fundamental Overview

Euro is trading at 1.1128, breaking the 1.1160 support as dollar strength continued to dominate the forex markets. Germany factory orders were reported higher but had little positive impact on the shared currency. With the non-farm payrolls data today, expect the dollar strength to continue till the event with the next target for Euro being 1.11.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
11:30:00 EUR German Industrial Production (MoM) (Aug) 0.80% -1.50%
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