Tuesday, February 21, 2017

EUR/USD TECHNICAL OUTLOOK : 22.02.2017

EUR/USD TECHNICAL OUTLOOK : 22.02.2017
NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE


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EUR/USD. Pair after opening at 1.0669 made high of .10677 and was trading with some sidewise bias the pair has is not able to take out the levels of 1.07 and reversed signifying bears are aggressive at higher levels and supply coming in at higher levels likely to trade with some negative bias so utilize rise to sell the pair on intraday basis.

Fundamental Overview

Euro is trading at 1.0549, depreciating against the US dollar and other majors as investors fear about the French elections uncertainty is keeping the Euro sold. Recent polls indicated the anti EU leader Le Penn is in the lead and this uncertainty will keep the pressure on Euro. German business climate and Euro CPI would be in focus today.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
14:30 EUR German Business Expectations (Feb) 103 103.2
14:30 EUR German Current Assessment (Feb) 116.7 116.9
14:30 EUR German Ifo Business Climate Index (Feb) 109.6 109.8
15:30 EUR Core CPI (YoY) (Jan) 0.90% 0.90%
15:30 EUR CPI (MoM) (Jan) -0.80% 0.50%
15:30 EUR CPI (YoY) (Jan) 1.80% 1.80%