EUR/USD TECHNICAL OUTLOOK - 04.10.2016
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EUR/USD. Pair after opening at 1.1237 Made a high of 1.1244 and was trading with some week bias after testing 1.1240 ,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 , would be in range of 1.1240-1.1170
Fundamental Overview
Euro is trading at 1.1200, tracing back the downtrend as markets remained skeptical after no official confirmation about the deutsche bank penalty reduction was announced. Euro rebounded on the news that the settlement would be $5 billion but is now back in the jittery mode that was seen last week. Expect the trend to continue and once the German markets open after yesterday’s holiday, we would need to watch how DB shares trade.
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Fundamental Overview
Euro is trading at 1.1200, tracing back the downtrend as markets remained skeptical after no official confirmation about the deutsche bank penalty reduction was announced. Euro rebounded on the news that the settlement would be $5 billion but is now back in the jittery mode that was seen last week. Expect the trend to continue and once the German markets open after yesterday’s holiday, we would need to watch how DB shares trade.