EUR/USD TECHNICAL OUTLOOK : Aug 24, 2016, 09.51 AM
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EUR/USD. Pair after opening at 1.1322 Made a high of 1.1355, and was trading with a positive bias, during the day ,but the pair has violated the recent range and any rise close to its 50DMA at 1.1133 is likely to find resistance and strong resistance near 200DMA at 1.1152 and now trading above the major resistance so if not able to pass 1.1366 is a shorting opportunity
Fundamental Overview
Euro is trading at 1.1296, retreating from the 1.1340 levels which were seen after mixed PMI data was reported from the EU yesterday. Manufacturing and services PMI were reported higher than expected. Investors continue to remain on the sidelines before the key event scheduled for Friday but Euro is likely to remain in the 1.1050-1.14 range.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
11:30:00 EUR German GDP (QoQ) (Q2) 0.40% 0.40%
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Fundamental Overview
Euro is trading at 1.1296, retreating from the 1.1340 levels which were seen after mixed PMI data was reported from the EU yesterday. Manufacturing and services PMI were reported higher than expected. Investors continue to remain on the sidelines before the key event scheduled for Friday but Euro is likely to remain in the 1.1050-1.14 range.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
11:30:00 EUR German GDP (QoQ) (Q2) 0.40% 0.40%