Sunday, October 2, 2016

EUR/USD TECHNICAL OUTLOOK : 03.10.2016

EUR/USD TECHNICAL OUTLOOK : 03.10.2016

NIFTY Fut               : BUY ZONE
BANKNIFTY FUT : BUY ZONE
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EUR/USD. Pair after opening at 1.1220Made a high of 1.1251 and was trading with some week bias after violating the supports of 1.1200, but after our 1.1150 is acting as a strong support for near term 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 , but intraday below 1.12 can be utilized to enter the pair

Fundamental Overview

Euro is trading at 1.1240, appreciating from the lows near 1.1150 that were seen on Friday. Economic data had little impact on the shared currency as markets remained focused on the troubles of deutsche bank, Talks about a lower settlement as compared to the previous $14 billion fine led to the recovery in risk off sentiment as well as the euro. Manufacturing PMI data that is to be reported today, if positive can help push the euro higher towards the 1.13 mark

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
13:25:00 EUR German Manufacturing PMI (Sep) 54.3 54.3
13:30:00 EUR Manufacturing PMI (Sep) 52.6 52.6