Monday, October 17, 2016

EUR/USD TECHNICAL OUTLOOK : 18.10.2016

EUR/USD TECHNICAL OUTLOOK : 18.10.2016


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EUR/USD. Pair after opening at 1.0972 Made a low of 1.0961 and bounced from the lower levels the pair had mad a bullish candle on a smaller time frame and is likely to bounce but as the medium term trend remains weak likely to sold off at higher levels as the pair violated the range of 1.1260-1.1100 so to utilized to sell the pair

Fundamental Overview

Euro is trading at 1.1018, rebounding from lower levels as the US dollar retreated. Economic data reported yesterday was in line with expectations with the inflation for the month of September being reported at 0.4%. Focus would be on the European monetary policy meeting on Thursday and we can expect the Eurusd pair to hover near the 1.10 mark going into the event.